Bank Alert, Bank of Baroda, Positive Pay System: Fraud cases in banks have increased rapidly these days. In such a situation, banks do not take any security measures to prevent fraud with the hard earned earnings of their customers. In this episode, Bank of Baroda has issued a new notification for its customers. In view of the increasing fraud in banks, Bank of Baroda has made a big change in the rule related to check payment. The change in the rules of check payment will be effective from June 1.
Positive pay system will be applicable: From June 1 (June1, 2021), Bank of Baroda is mandating positive pay confirmation for its customers. Under this, if the customer gives more than 2 lakh rupees to a customer of Bank of Baroda, then he will have to give confirmation to the bank again and again. The payee of the check will have to inform the date of the check, amount, name of the recipient electronically. Only after this information the amount will be paid by the bank.
Officially the bank gave information: Bank of Baroda is making Positive pay confirmation mandatory. The bank has already given its information to its customers. Bank of Baroda has shared its information on its official Twitter account. Giving information on the tweeter, Bank of Baroda has said that positive pay confirmation is becoming mandatory from June 1. Under this, a check of more than a certain amount is given, the check payer will have to confirm again. The check will be passed only after giving the information again, otherwise the check will be canceled.
How the positive pay system will work: Bank of Baroda says that, customers can give the information of the check to the bank through SMS (Mobile App) or Internet Banking (Net Banking). After this, these information will be checked before making the check payment on behalf of the bank, only after the information is confirmed, the bank will make the payment. The bank says that this will reduce the fraud case.
How much amount will be applied on this rule: In the notification issued by the bank, it has been told that the bank can confirm for a check of more than 50 thousand. But Bank of Baroda has said to confirm it for an amount of more than 2 lakhs. The bank has said that if the amount of the payment in the check is more than 2 lakh, then the customer will have to give the information again, only then the check will be passed.
This is how you can give confirmation: Bank of Baroda customers can give confirmation through net banking, mobile banking, over the phone, or via SMS. Customers can use the number 842200 9988 for confirmation. Customers can give confirmation by sending an SMS or WhatsApp to this number.
RBI had given instructions: Significantly , in order to prevent fraudsters from cheating customers through checks, the Reserve Bank of India (RBI) had decided to implement the positive pay system from January 1 this year. Under which, now the Bank of Baroda has made this system mandatory. This will be applicable in all branches from 1 June. Earlier, the system was also implemented by ASBI. Bank of Baroda made a big change in the rule related to check payment and stay tuned for updates from News in Hindi .