Dear Client:
Pursuant to the instructions of the Palestinian Monetary Authority (PMA) No. (2/2010) dated 31/01/2010, regarding the Automated Returned Cheques System our clients are classified according to the set classifications below based on the number of their returned cheques during a period of three consecutive months and for reasons resulting from the drawing client, according to the following classifications
- Class (A): Fine client – if he doesn’t have any returned cheques.
- Class (B): Under-surveillance client – if he has from (1-5) cheques returned to his account.
- Class (C): Bad client – if he has from (6-15) cheques returned to his account, whereas the client shall not be granted new cheque books.
- Class (D): Bad client – if he has more than 15 cheques returned to his account, whereas the client shall not be granted new cheque books.
- Class (E): Re-qualified client – when the client repays all his returned cheques within the granted period of time stated in the instructions of the PMA. Class (E) also includes clients who have completed their period of legal penalty for the previous classes.
To peruse the PMA’s detailed instructions regarding the Automated Returned Cheques System please refer to any of our branches in Palestine or visit the PMA’s website (www.pma.ps).
Cheques in Quds Bank have been printed in a manner to be dealt with electronically based on the data at the bottom of the cheque which is printed in magnetized ink. Therefore, please adhere to the following:
- Do not give any cheques for use by others because the information printed at the bottom of the cheques belongs to the account in which the cheque book had been given.
- You shall not change or cross out printed information at the bottom of the cheque.
- You shall not write over printed information at the bottom of the cheque because such affects dealing with them electronically.
- You shall not put holes into the cheques especially near the printed information at the bottom because such hinders dealing with them electronically.
- You should keep your cheques and cheque books in a safe place; and in the event of losing a cheque or cheque book you shall notify the bank immediately given that the bank is not responsible for the outcomes arising from the loss of a cheque book.