The Indian Financial System Code (IFSC), SWIFT Code and Cheque books for all account holders in Syndicate Bank which went through a merger with Canara Bank will become invalid with effect from July 1, 2021. In view of this change due to the merger, the Canara Bank has put out a notice that all IFSC codes of Syndicate Bank account holders starting with SYNB will now be changed to CNRB. Issuing an official statement on its website, the Canara Bank stated, “This is to inform that after the merger of Syndicate Bank with Canara Bank, all eSyndicate IFSC codes starting with SYNB have been changed. All the IFSC starting with SYNB will be disabled W.E.F 01.07.2021. We request you to inform the remitters (senders) to use only your new IFSC code starting with “CNRB” while sending NEFT/RTGS/IMPS, from now itself.”
Here’s all you need to know about how to change your IFSC Code and SWIFT CODE:
The new IFSC code will now start with CNRB instead of SYNB. One also needs to add 10000 to their existing IFSC code number. For example, if the previous IFSC code was SYNB 0003687, now the changed IFSC code would be CNRB 0013687.
To know more about how to change the IFSC of your branch, visit the Canara Bank website with this direct link here: www.canarabank.com. Next, you need to go to the What’s New section on the Home page and Click on KIND ATTN: E SYNDICATE CUSTOMERS: KNOW YOUR NEW IFSC. One can also visit the nearest branch or call customer care at 1800 425 0018 for further help.
For all foreign exchange, the SWIFT Code of erstwhile Syndicate Bank (SYNBINBBXXX) which is used for sending or receiving SWIFT messages for Foreign Exchange transactions shall be discontinued w.e.f. from July 1, 2021. All customers have been advised to use the SWIFT code (CNRBINBBBFD) for any of their Foreign Exchange needs.
Meanwhile, it is important to note the present eSyndicate Bank Cheque book with old MICR and IFSC is also valid up to June 30, 2021. All old cheques issued to any third party need to be replaced with a new cheque before June 30, 2021.