Bank of Baroda customers alert! Cheque payment rules will change from THIS date

Bank of Baroda customers alert! Cheque payment rules will change from THIS date

Bank of Baroda issued a new notification for its customers recently and notified them of the strict rules of cheque payment which is going to kick in from the beginning of next month, June. On their official Twitter account, Bank of Baroda said that from June 1, the bank is going to make Positive Pay confirmation mandatory.

We are committed to making your banking transactions secure. And with the Positive Pay System, we are here to offer you protection against cheque frauds. With #BankofBaroda #StaySafeBankSafe pic.twitter.com/1u7NoxuCbW

— Bank of Baroda (@bankofbaroda) June 2, 2021

For the unversed, under Positive Pay, if a customer makes a payment of more than Rs 2 lakh through cheque, then they will have to confirm again. The transaction will be completed only when this process completes. Or else the cheque will be cancelled.

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