Payment order (P.O) is an instrument as per their customer request. Payment Order is one of the type of banker cheque . Banker cheques, all those instruments which are issued by bank on special request of their customer are called banker cheques.
1 – P.O number should be in sequence.
2- P.O number should be matched with the system number.
3- Beneficiary details should be matched with the customer request form.
5- In case of manual preparing amount and figure should be same.
6- In case of manual or computerized issuance of P.O date the P.O should be the current day date.
7- P.O should be protected by writing following words on the top of P.O “ NOT OVER RS = amount .“
with protector graft.
8- P.O should be signed by the authorized signatories of the branch.
9 –“Payees Account only” stamp should be affixed on P.O.
10 – If there is any cutting accrued while preparing, it should be signed by the authorized signatories.
Best of Luck!