Change of savings accounts to new banks: old cheques invalid after 1st April!
Posted on: 16/Mar/2021 12:43:28 PM
As the earlier proposed merger of some banks comes into effect shortly, it has been announced that the cheques given earlier before the merger the effect will not be valid from 1st April!
To enhance and strengthen the banking industry, the central government has gone ahead and merged 10 public sector banks into 4 large-scale banks.
- Dena Bank and Vijaya Bank merged with Bank of Baroda on 1st April 2019.
- Oriental Bank of Commerce (OBC) and United Bank of India (UBI) merged with Punjab National Bank.
- Syndicate Bank merged with Canara Bank.
- Andhra Bank and Corporation Bank merged with Union Bank of India.
- Allahabad Bank merged with Indian Bank.
With the above merger, service-oriented devices such as cheques, ATM Cards, Debit Cards, etc., are to be provided all-new after meagre! The new merged Bank needs to issue the new cheque books, passbooks, ATM cards and Credit/ Debit cards. However, this will require some time. As such, it was earlier announced that old cards may still be used.
In the above scenario, it has been announced that the cheque books and passbooks of the old banks which merged will not be valid from 1st April.
Accordingly, the cheque books/passbooks of the old banks Oriental Bank of Commerce, United Bank of India, Vijaya Bank, Allahabad Bank, Corporation Bank, Andhra Bank, and Dena Bank ( a total of 7 banks), WILL NOT BE VALID FROM 1ST APRIL!
As such, the customers/savings account holders of the above banks can use the cheque books and passbooks only until 31st March. Once the cheque books/pass books/credit/debit cards are rendered invalid after 1st April, the customers� new savings account number, new IFSC number, new MICR Code, Branch Address, new cheque books and bank passbooks will be arranged and issues!
