Bank of Baroda clients should electronically affirm key data about cheques worth more than Rs 5 lakh to the bank for validation before they can be cleared. The positive compensation affirmation rule will come to impact for Bank of Baroda clients from August 1, 2022.
A Bank of Baroda client should give key subtleties of the cheques prior to giving it over to the recipients so the bank can pass the high-esteem checks with practically no reconfirmation call introducing it for installment for CTS clearing.
As per the bank roundabout, “W.e.f. 01.08.2022, Positive Pay affirmation is proposed to be made required for checks gave for Rs.05.00 lacs and above. That implies, cheques gave for these qualities will be returned in the clearing/Intersol without installment, on the off chance that positive compensation affirmation isn’t given on or after 01.08.2022.”
According to the official twitter account, “Resolved to guarantee the security of your banking. With Positive Pay System, we are here to safeguard you from actually look at fakes. Cheques with more than 5 lakh rupees are affirmed prior to clearing. So essentially #BankSafe with BankofBaroda.”
These are the 6 compulsory data sources that must be accommodated this affirmation;
Cheque date
Payee name
Sum
Account number
Cheque number
Transaction code
If the gave key subtleties match those on the genuine cheque submitted in the CTS clearing and all the other things is all together, for example, having sufficient cash close by and matching marks, the cheque will be passed.
“According to the RBI order, Positive Pay (CPPS) System will be compulsory w.e.f. 01.08.2022 for cheques gave for Rs 5 lakh and above. Bank of Baroda clients can give Positive Pay affirmation through different modes viz. weave World (Mobile Banking), Net Banking, Call Center or by visiting any Bank of Baroda branch in India,” expressed Bank of Baroda.
Might clients at any point give Positive Pay to cheques below Rs 5 lakh also? “Positive Pay can be given to cheques of Rs.50,000 and above. Be that as it may, it is discretionary for clients to give Positive Pay to cheques of Rs.50,000 or more and up to Rs.4,99,999.99,” expressed Bank of Baroda.
Change or cancellation
The National Payment Corporation of India’s server doesn’t consider the change or erasure of information whenever it has been submitted to it, so there is no likelihood to change or erase an enlisted affirmation in any capacity. Clients can, in any case, stop the installment of given checks at any prior second to show or installment in the CTS clearing or at the counter.
Here are various ways of affirming BoB positive cheques subtleties, agreeing t ..
Instructions to affirm positive pay cheques through mobile banking
Clients need to enter their sign in accreditations > select option> Request Services> Positive Pay Confirmation > Select employable record > Enter cheque number > reaction to the other compulsory fields 1. Sum 2. Payee’s name and 3. Date 4. Exchange Code > Confirm>MPIN>SUBMIT.
Step by step instructions to affirm positive pay cheques through net banking
Clients need to enter their sign in qualifications > select choice > Services > cheque Book > Centralized Positive Pay Mechanism > reaction to the compulsory fields > 1. Select usable record > cheque number 3. Sum 4. Payee’s name and 4. Date 5. Exchange Code > Confirm>Transaction Password >SUBMIT.
Step by step instructions to affirm positive pay cheques by visiting branch
Clients can give their Positive Pay affirmation by private visit to any of the BOB Branch in India. Clients need to give the required contributions over the endorsed application design (as joined hereunder). Clients are mentioned to give their affirmations during the business hours of the individual branch.
Instructions to affirm positive pay cheques utilizing SMS
Clients need to give their positive affirmation on their gave cheques to the recipient through Virtual Mobile Number 8422009988. Every one of the data sources should have spaces and Payee’s name in capital letters, without spaces.
The most effective method to affirm positive pay cheques by calling customer care
Clients can give their Positive Pay affirmation through the accompanying Toll Free numbers – 1800 258 4455 and 1800 102 4455 after the client ID process.
