Getty ImagesState-owned on Wednesday said cheque books issued by erstwhile Syndicate Bank branches and their IFSC or MICR codes will be valid till the end of June 2021. Canara Bank amalgamated Syndicate Bank with itself effective April 1, 2020.
"Customers can continue to use the cheque books issued by erstwhile Syndicate Bank branches and their IFSC / MICR codes till June 30, 2021," the bank said in a statement.
Customers can obtain new cheque books and information on new IFSC or MICR codes of the erstwhile Syndicate Bank branches through the bank's website, internet banking, Candi app/ mobile banking, and branches of Canara Bank, the statement said.
Indian financial system code (IFSC), an 11-digit alpha numeric code seen on a bank's cheque leaves, helps in identifying bank branches that participate in the various online money transfer options like national electronic funds transfer (NEFT) and real-time gross settlement (RTGS).
MICR code is a code printed on cheques using MICR (magnetic ink character recognition technology). It facilitates quick processing of cheques and prompt settlement.
"Customers can continue to use the cheque books issued by erstwhile Syndicate Bank branches and their IFSC / MICR codes till June 30, 2021," the bank said in a statement.
Customers can obtain new cheque books and information on new IFSC or MICR codes of the erstwhile Syndicate Bank branches through the bank's website, internet banking, Candi app/ mobile banking, and branches of Canara Bank, the statement said.
Indian financial system code (IFSC), an 11-digit alpha numeric code seen on a bank's cheque leaves, helps in identifying bank branches that participate in the various online money transfer options like national electronic funds transfer (NEFT) and real-time gross settlement (RTGS).
MICR code is a code printed on cheques using MICR (magnetic ink character recognition technology). It facilitates quick processing of cheques and prompt settlement.
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4 Comments on this Story
 | G P Pushpavati /Vija4 days ago Eastwhile Syndicate Bank cheques are not honoured in clearing houses and presenting banks are returning the chews with reason Account Closed and are debiting retn charges Rs250/ Nobody to listen problems and not guiding properly and syndicate customers put to inconvience and loss |
 | Subramanian CB5 days ago had to practically stop all on-line transactions in Syndicate Bank account due to absence of a seamless migration of the Savings bank Account to Canara Bank for access through the so called Canara Bank Mobile app.Several mails sent to Canara Bank did not help.They say that unless we have a valid ATM card ( which we never had ) it is not possible to activate the migrated account unless we visit the branch ( which due the Pandemic we dont want to risk).Therefore the account in erstwhile Syndicate Bank stands frozen for last three months with help declined by the Canara Bank Team.God Bless |
| RajaSekhar5 days ago I feel that they have not done the ground work properly before introducing the merger process and making it operative. As a senior citizen I am facing lot of tension as banks said they take three more to issue new cheque books. On the other hand MF etc are insisting on new cheque with names to change the bank name in their records. |