PNB Rule Change from 4 April: If you are a customer of Punjab National Bank (PNB), then there is a very important news for you. The bank is implementing a new rule regarding check payment from Monday. The bank gave this information by tweeting
PNB Rule Change from 4 April: If you are a customer of Punjab National Bank (PNB), then there is a very important news for you. PNB is going to implement Positive Pay System (PPS) from 4th April 2022. According to the information given by PNB, from April 4, verification will be necessary for check payment. Let us tell you that if there is no confirmation after this rule, then the check can also be returned.
Bank tweeted
PNB has tweeted about this on its official Twitter account. The bank has said on its Twitter handle, “Positive Pay System system will be mandatory from April 4, 2022. PPS confirmation will be mandatory if customers issue checks of ₹ 10 lakh and above through bank branch or digital channel. Customers will be given account number , check number, check alpha, check date, check amount and name of the beneficiary. For more details, PNB customers can call on 1800-103-2222 or 1800-180-2222. Or you can visit the website of the bank.
Know what is Positive Pay System?
Positive pay system is a kind of fraud detection tool. Under this system, when anyone issues a check, he will have to give full details to his bank. In this, the issuer of the check will have to electronically give the date of the check, beneficiary name, account number, total amount and other necessary information to the bank through SMS, internet banking, ATM or mobile banking. With this system, while the payment by check will be safe, the clearance will also take less time. The physical check issued in this does not have to move from one place to another. It is a very easy and safe process.
