From April 1, 2020, Syndicate Bank has been merged with Canara bank. There will be a lot of questions in your mind about this merger, so today we are going to answer all these questions.
Canara Bank & Syndicate Bank Merger – All you need to know
1# I have accounts in both banks (Canara & Syndicate Bank), Do I need to close either of the one?
Ans: No. Both your accounts can continue. However, a customer can have only one customer ID. The bank will notify you about this when any change will be made.
2# Do I need to apply for a new ATM Debit card?
Ans: No. Existing Debit/Credit Cards will continue to operate as-is. You don’t need to apply for a new Debit card.
3# Do I need to register a mobile number and email ID with Canara Bank after the merger?
Ans: No. Syndicate Bank customers don’t need to register mobile number and email ID again. You will continue to receive alerts on the mobile number and email as usual.
4# What about Cheque Book. Do I need to apply for a new one?
Ans: No. Your existing Cheque book can be used for payment and withdrawal. The bank will notify you about any changes.
5# Will Syndicate customers have to open a new account with the Canara bank?
Ans: No. Your existing bank account with Syndicate Bank shall continue. You don’t need to open a new account in Canara Bank.
6# Do I need to submit fresh KYC documents after the Syndicate Bank merger with Canara Bank?
Ans: No. KYC need not be re-submitted. If already updated in your branch records.
7# Any change in Mobile and net Banking?
Ans: No change in any of the process. All applications of the both bank will continue to be functional to service the customers.
Other Things To Know
- All your credentials like account number, IFSC code, MICR code shall remain the same until notified.
- All existing branched of both bans shall continue to function at the same locations. Any change shall be notified.
- You can use your ATM Debit card for cash withdrawal across ATMs of Amalgamated Bank.
- Syndicate Bank pensioners are not required to open a new account. The existing account can continue.