Bank of Baroda, Vijaya Bank, Dena Bank merger from April 1, 2019: Here is the impact on savings account holders

With the amalgamation of Dena Bank, Vijaya Bank and Bank of Baroda (BoB) from April 1 2019, the customers will have to get ready for the various modifications related to their accounts and deposits. The bank merger will become effective from the start of the financial year 2019-20.

However, the changes especially related to savings account etc may not happen soon. In a communication, the MD & CEO of Bank of Baroda has informed that currently there will not be any change and the customers will continue to get services with the same savings account number, passbook, cheque book, ATM card, credit card, internet banking or mobile banking till further communication.

Also, Dena Bank has informed that “Even after the amalgamation of Dena bank with Bank of Baroda, the present debit card, Internet Banking, Mobile Banking and Account operations will continue to function as earlier without any changes.”

This means customers will continue to avail various services of individuals banks from their existing branches until further notice.

Further, as a precautionary step, Dena Bank has put up a notice saying, “Fraudsters may ask you to share Account Details, Debit Card Details, Internet/Mobile Banking User ID, Password, AADHAAR, PAN Number and OTP over Phone Call, E-Mail, SMS or Whatsapp Messages for renewal of services or issuance of new Debit Card. Do not share any of the details. Bank does not ask for such details from their customers.”

However, going forward, as and when the banks communicate, the account holders may have to undergo these changes — New account number, new cheque book and ATM cards along with new user name for accessing the website of the amalgamated entity. Importantly, if you have provided ECS mandate or given Standing Instructions for debiting the account for services like an insurance premium, mutual fund SIP etc, they may have to be updated if asked by the banks.

If you are a Dena Bank account holder and have rewards points accumulated against your card, this is for you. The bank has informed that Reward Points for purchases made at POS/E-commerce using the debit card will be awarded up to 31/03/2019 only. However, all reward points accumulated up to 31/03/2019 can be redeemed till 30/04/2019. Dena Bank rewardz portal, mobile app and offline redemption facility shall not be available from 01/05/2019.

Therefore, it is better to redeem the reward points before 30/04/2019 after which the unredeemed points will expire. To redeem one may register through or alternatively one can download the Android App from Google Play Store using the keyword DENA REWARDZ.

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