Electronic Cheque Clearing (NCHL-ECC) is an image-based, cost-effective, MICR (Magnetic Ink Character Recognition) cheque processing & settlement solution where an original paper cheque is converted into an image for electronic processing of the financial transactions between participating member Banks/FIs. The physical movement of the cheques are truncated or stopped at the level of the presenting bank in the NCHL-ECC System. The cheque does not physically travel to the clearing house or to the paying branch as it used to do in manual clearing process, resulting in a faster and easier processing of the cheque transactions.

NCHL-ECC currently supports cheques clearing with presentment cut-off time at 14:00, paying bank response cut-off time at 15:00 and final settlement at 15:30 for standard (MICR encoded) cheques. Express Clearings and High Value Clearing are also available, which are of shorter duration.

 

Regular Electronic Cheque clearing supports clearing of cheques of up to NPR 200 million in case of NPR cheques from Sunday to Thursday. The session timings of regular electronic cheque clearing sessions are as follows:

  Presentment Start Time Presentment Cut-Off Time Reply  Cut-Off Time Settlement Start Time
Regular Clearing 14:00 (T-1) 14:00 (T) 15:00 (T) 15:10 (T)

 

Express NCHL-ECC is a special clearing session of short duration for cheque presentment, response from paying bank and NRB settlement. It has 2 hours window for presentment to final settlement thus allowing the Banks/FIs and their customers to present and realize their cheques faster.

Currently there are three express clearing sessions. 1st and 2nd express sessions are available from Sunday to Friday. 3rd express session is available from Sunday to Thursday.

Express cheque clearing supports clearing of cheques of up to NPR 200 million in case of NPR cheques. The session timings of express clearing sessions are as follows:

 

         Timings

1st  Express

2nd Express

3rd Express

Presentment Start  Time

10:00 AM (T)

11:00 AM (T)

12:00 PM (T)

Presentment Cut-off  Time

11:00 AM (T)

12:00 PM (T)

13:00 PM (T)

Reply Cut-off

11:30 AM (T)

12:30 PM (T)

13:30 PM (T)

Settlement Time

12: 00 PM (T)

13: 00 PM (T)

14: 00 PM (T)

 

High value electronic cheque clearing is a special clearing session for presentment of high value cheques of above NPR 200 Million to 300 Million in case of NPR cheques. It is available from Sunday to Friday. The session timings of high value electronic cheque clearing sessions are as follows:

 

 

Presentment Start Time

Presentment Cut-Off Time

Reply Cut-Off Time

Settlement Start Time

High Value Clearing

10:00 (T)

11:30 (T)

12:30 (T)

13:00 (T)

 


NCHL-ECC Timings
           Timings

Regular

1st Express

2nd Express

3rd Express

High-Value

Presentment Start Time

14:00 (T-1)

10:00 (T)

11:00 (T)

12:00 (T)

10:00 (T)

Presentment Cut-Off Time

14:00 (T)

11:00 (T)

12:00 (T)

13:00 (T)

11:30 (T)

Reply Cut-Off Time

15:00 (T)

11:30 (T)

12:30 (T)

13:30 (T)

12:30 (T)

Settlement Start Time

15:10 (T)

12:00 (T)

13:00 (T)

14:00 (T)

13:00 (T)

Note:

1.    1st and 2nd Express Clearing and High Value Clearing sessions are available from Sunday to Friday.
2.    Regular Clearing and 3rd Express Clearing sessions are available from Sunday to Thursday.
3.    Banks may have their own cut-off times as per their internal process / policy.