Bank of Baroda has recently issued a new notification for its customers. Accordingly, the check payment rules are going to change from the beginning of next month. Bank of Baroda, sharing information from its official Twitter account, said that from June 1, the bank is going to make positive pay confirmation mandatory.
Under this, if the payment of more than 2 lakhs is made through check, then the customer will have to confirm again. The transaction will be completed only when this process completes. Otherwise the check will be canceled. In the notification issued by the bank, it has been said that confirmation can be done by the bank for checks worth more than 50 thousand.
Customers can give confirmation by net banking, mobile banking, branch phone or SMS on 8422009988. For this, it is necessary to share the name of the beneficiary, the amount (in rupees), the date of the check, the amount numbers, the account number and the check number.
As per RBI order, BOB has introduced Centralized Positive Pay System i.e. CPPS on 1 January 2021 for the purpose of curbing the fraud during check payments. Now the bank is going to implement it for the benefit of the customers. Therefore, the bank has appealed to the customers to inform the bank about the beneficiary in advance regarding the high value check transaction.
