Fidelity Bank Steps Up Security Measures In New Cheque

Fidelity Bank has announced the introduction of its new cheque leaflet in compliance with the directives of the Central Bank of Nigeria (CBN) for Deposit Money Banks (DMBs) to implement the revised Nigeria Cheque Standard (NCS).

Fidelity Bank made the notice through an email message sent to its customers.

It reads; “Following the directive of the CBN for banks to fully implement the revised Nigeria Cheque Standard before December 31, 2020, please be informed that we have redesigned and introduced new security features in our cheque leaflets.”

“These features include the addition of expiry date, 2-digits security code, QR code and standard dating format as shown in the sample of the new cheque leaf.”

“Kindly contact your relationship manager or visit the nearest branch for a new cheque book ahead of the deadline of December 31, 2020, as the old cheque leaflets will no longer be accepted from January 1, 2021.”

The central bank had introduced the revised NCS to increase efficiency and asked all commercial banks in the country to commence implementing the new design from January 2021.

The apex bank had in a statement said it was determined to phase-out the old cheque books, warning that if after 2020, they are presented for clearing, they would not be honoured.

The statement reads; “We would like to remind you that all cheques with bank code 063 are no longer valid for clearing and will not be honoured on the presentation for payment from 2021.”

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