SIB Collect

SIB collect is an exclusive facility from the bank for fast collection of outstation instruments. The customers of any particular town can deposit their collection instruments and other request in the drop boxes available at all branches at that centre. All the instruments are pooled at a central office via fast courier services and collected very fast. The bank also makes use of its anywhere banking facility for the fast collection of the instruments. This facility is now available at Ernakulam, Thrissur, Chennai, Bangalore and Mumbai.

The various features of SIB Collect are listed below:

It is a centralized cheque collection system
It is based on the drop box concept
It gives freedom to the customer to deposit instruments at convenience centers
It gives freedom to the customer to transact at convenient time
It saves time to the customer by just dropping the instruments instead of waiting at the counters for acknowledgement.
It makes use of the anywhere banking facility concept of finnacle for fast collection.
It saves the time of the branches in doing outstation collection and dispatch
It is a system based on trust on the banking officials

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