PNB customers should know that from April 4, the mode of their check payment will change.Â
If PNB is going to implement the positive pay system from this date, then the customers should understand the information about it.
PNB Rule: There is big news for the customers of Punjab National Bank (PNB) and this bank is changing its payment rules. PNB has announced that from April 4, the bank is going to implement the Positive Pay System. If you do not know what is Positive Pay System, then you can get information here.
Check will be mandatory for clearing PPS
PNB’s positive pay system from April 4, 2022, check payment will not be possible without verification and this rule is mandatory for checks of Rs 10 lakh or more. PNB has given information about this rule on its official website.
According to the information given on the website of PNB, if the positive pay system will be implemented from April 4, 2022, then banks will have to give many types of information under the positive pay system. Know what will have to be done under this
This rule is applicable for an amount of Rs 10 lakh or more.
- Under PPS (Positive Pay system), customers have to provide account number, check number, check alpha, check date, check amount and beneficiary name.
- Checks cannot be issued without PPS confirmation
- It will become mandatory to go and issue a check or issue a check amounting to Rs 10 lakh through a digital channel.
What is Positive Pay System
With the help of PPS, check payment becomes very secure and its clearance also takes less time. This PPS confirmation is known as a fraud detection tool and RBI had directed banks to implement it from January 1, 2022.
PNB customers will not have any problem-secure payment
PNB has said on its website that customers will not have any problem with this new PPS and it is issuing a number to solve any kind of problem on which it will be called.
Related information is being given. Customers can get complete details about PPS by calling 1800-103-2222 or 1800-180-2222.
