After the merger of banks, other banking operations including transactions with the old IFC code cannot be done. In such a situation, Canara Bank has appealed to the customers to update the new code.
old ifc code will not be valid
Many banks have been merged under the government’s bank privatization policy. In such a situation, customers who have not updated their bank account yet, they should get it done immediately because after June 30, the old IFSC code and check book will become invalid. If this happens, no work will be done including transactions. Canara Bank has also issued a notification to alert the customers.
Canara Bank has informed its customers that the IFSC Code and Check Book of Syndicate Bank will become invalid from next month. Therefore, customers of Syndicate Bank will have to update the IFSC code of their bank branch by June 30. Apart from this, they will also have to take a new check book in place of the old check book because after June 30, 2021, they will become useless.
Check out the bank’s latest tweet here
Attention to all Syndicate Bank account holders: IFSC will change from 1st July, 2021. Kindly check your new IFSC on our website. pic.twitter.com/RumZ0TWBeq
— Canara Bank (@canarabank) June 28, 2021
Canara Bank tweeted and wrote, “Syndicate Bank Customers Attention, IFSC will change from 1st July 2021. So check the new IFSC codes on our website.
how to get new code
The new IFSC code will now start with CNRB instead of SYNB. So one has to add 10000 to their existing IFSC code number. The new IFSC code can be updated by visiting the official website of Canara Bank at canarabank.com/IFSC.html. If you want, you can also get it by visiting any branch of Canara Bank. Apart from this, customers can also contact on customer care number 18004250018.
Swift code will be closed
Canara Bank has also announced to discontinue the existing SWIFT code being used by Syndicate Bank customers for foreign exchange transactions. “The SWIFT code of the erstwhile Syndicate Bank (SYNBINBBXXX), which is used to send or receive SWIFT messages for foreign exchange transactions, will be discontinued with effect from July 1, 2021,” the bank said.
Merger happened last year
Finance Minister Nirmala Sitharaman had announced the merger of 10 public sector banks into four mega state-owned banks in 2019. In April last year, Syndicate Bank was merged with Canara Bank. Which was implemented in April 2020. At the same time, the old IFSC and MICR code is being updated in the year 2021.
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