Bank of Baroda, Dena Bank, Vijaya Bank merger completed: But what happens to your existing debit cards? | Personal Finance News

THO

[ad_1]

New Delhi: State-run Bank of Baroda has said it has completed integration of 3,898 branches of erstwhile Vijaya Bank and Dena Bank with itself.

What happens to Dena Bank, Vijaya Bank debit cards?

All customers will now have access to the bank’s (Bank of Baroda) digital channels. Debit cards already issued to customers by erstwhile banks (Dena Bank, Vijaya Bank) will continue to function until the stipulated expiry of the card. Meanwhile, when Vijaya Bank and Dena Bank debit card holders use their card at a BoB ATM for the first time, they will be prompted for change of PIN.

Migration of customer accounts

Over 5 crore customer accounts were migrated. In addition to branches, all ATMs, POS machines and credit cards have been migrated successfully. The bank said all customers now have access to a total of 8,248 domestic branches and 10,318 ATMs across India, which will provide them complete access to its entire suite of products and services. 

Three-way amalgamation in 2019

In a first three-way amalgamation, Vijaya Bank and Dena Bank were merged with Bank of Baroda from April 1, 2019. The bank has completed the integration of 1,770 erstwhile Dena Bank branches in December 2020, and had earlier completed the integration of 2,128 erstwhile Vijaya Bank branches in September 2020. 

Live TV

#mute

Bank of Baroda (BoB) in 2019 became the second largest state-owned lender after merging Dena Bank and Vijaya Bank into itself as part of the first three-way amalgamation. The consolidated entity started its operation with a business mix of over Rs 15 lakh crore of balance sheet, with deposits and advances of Rs 8.75 lakh crore and Rs 6.25 lakh crore, respectively.

With PTI Inputs

[ad_2]

Source by [author_name]

Compare listings

Compare
%d bloggers like this: