UCO Bank - India - Pre-funded Cheques

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UCO Bank - India - Pre-funded Cheques

It was a pleasant surprise, to know more about a new innovative bank product.
This product was launched by UCO Bank way back in 2008.

The Pre-funded cheques seems to be unique to UCO Bank, and so far, not copied by other Indian Banks.

The salient features of the Product are :

1.Background
The Pre-funded cheques have an upper limit inscribed on them. The same can be used as Gift Cheques, Travlellers Cheques or Normal Cheques.

2. Eligibility:
This is available  customers maintaining individual
SB/CA account with the Bank, i.e no Joint accounts, or other business accounts holders cannot avail this facility.

3. Service Charges
Service charges shall be levied upfront @ Rs.100/ per cheque book of 10 leaves of Rs.10000/- denomination and @Rs.50/- per cheque book of 10 leaves for Rs.5000/- and Rs.1000/- denominations. Actual Courier Charges shall also be recovered additionally.

4. Cheque Feature
The cheques are customised i.e printed as order cheques and attractively designed.
The cheques will be pre-funded i.e the account will already have funds in it.

The cheque books will be issued for a prepaid value of not exceeding Rs.10,000/- Rs.50,000/- / Rs.100000/- (i.e. cheque book containing 10 leaves - each leaf not exceeding Rs.1000/- ,Rs.5,000/- and Rs.10000/- )

Each cheque leaf shall bear a legend "Not over Rs.1000/- or Rs.5000/ or Rs.10,000/- "as the case may be.
A cheque book shall contain 10 leaves.



UCO Bank was founded in 1943, and has branches spread all over India.

Amongst the founding fathers of UCO Bank was  Ghanshyam Das Birla, the founder of Birle Group in India. During the Quit India movement of 1942, he had conceived the idea of organizing a commercial bank with Indian capital and management, and the United Commercial Bank Limited was incorporated to give shape to that idea.

The bank, along with 13 major commercial banks of India, was nationalized on 19 July 1969 by the Government of India.

Its name was changed to UCO Bank, in 1985, by an act of Indian Parliament.

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