Post merger, public sector banks are troubled by lack of customer communication

Following the completion of the merger, public sector banks have been making announcements about changes to the IFSC code and other services. However, some customers are complaining about the lack of clear information.

Andhra Bank and Corporation Bank were merged with Union Bank of India. Union Bank recently announced that IT integration is complete without changing the account number, but IFSC codes have been changed. Older IFSC codes will no longer be valid from April 1, the bank said, and instructed customers to get new checkbooks with updated IFSC and MICR codes.

Oriental Bank of Commerce (OBC) and United Bank of India were merged with Punjab National Bank. PNB said that the existing checkbooks of the merged banks will be closed from April 1 and customers will be asked to obtain a new check book with new IFSC code and MICR code.

Dena Bank and Vijaya Bank were merged with Bank of Baroda. On its website, Bank of Baroda said that rumors were being spread on social media, stating that the checks of the merged banks would not be accepted from April 1 and clarified that they would be valid and that customers would not be allowed to accept such rumors. Warned not to be a victim. It is also stated that customers can get new checkbook with updated code online or through their Aadhaar branch. The bank also said that the debit cards of the erstwhile banks can be used till expiry.

“I have an account with Dena Bank. We were told that our debit card would be valid until their expiration date, even after the merger. But, it did not happen when I tried to pay. When I called the bank, I was informed that I had to go there and get the card linked to my account, which was changed due to the merger, ”said Raji Muthukrishnan, an account holder. He said, “Banks do not share this kind of information like I have to associate a debit card with my updated account number.”

Similarly, Syndicate Bank was merged with Canara Bank. Based on information that the old checkbooks of the merged banks would become invalid from April 1, 76-year-old Katie Rajan went to her Syndicate Bank branch for a new check book. “I was told that the old check book would be valid till 30 June. There is complete lack of information and clarity. My concern is that old checks should not bounce, which would be a big embarrassment.

Canara Bank’s website states that the existing account will not change and the already issued check book / unused check leaves can be continued till further communication. A consumer activist, t. Sadagopan said that the lack of proper information from banks about services and processes caused a lot of confusion, mainly among senior citizens.