Checks and checkbooks of DKIB
According to legislation of the Kyrgyz Republic legal entities withdraw cash funds from bank accounts by filled in checks signed by authorized person/s.
DemirBank issues two types of check books - standard check book of 25 sheets and check book of 500 continues checks
DemirBank's check is a transferable instrument and can be issued in favor of a third party. Issued checks are valid within 10 calendar days from the date of issuance.
Filled in manually or printed checks are issued to the name of beneficiary of cash funds, beneficiary in its turn presents a check for payment to Bank's cash desk and funds are withdrawn directly from check issuer's bank account. This bank product releases the customer from double transaction (cash funds withdraw from bank account by customer's cashier, delivery to the office and further payment to the beneficiary). Usage of checks also decreases cash related risks and saves working time of company's employees.
The advantage of using continues checks consisting of 500 checks is that checks are filled in not manually but using computer. All data of transactions (amount, date, beneficiary, etc.) is stored at client's database and enables to monitor and follow up cash flows of the company. Program for continues checks usage is provided by the Bank free-of-charge.