Bank of Baroda was founded in 1908 in Baroda, Gujarat. Sir Sayajirao Gaekwad-III—The Maharaja of Baroda—founded the bank for the princely state. The bank was nationalised in 1969 and was designated as a profit-making public sector undertaking (PSU) by the Government of India. At present, the bank has over 5,000 branches in India and other parts of the world. In addition, the bank has over 10,000 ATMs across the country.
Bank of Baroda has kept up with the technological advancements that have taken place thus far and has managed to grow its current customer base. Additionally, the bank has also set up specialised branches that aim to exclusively serve specific customer divisions.
Apart from internet banking and mobile banking facilities offered by Bank of Baroda, it also provides its customers with the option of creating standing instructions towards payment of various services. These services include payment of credit card bills, insurance premiums, and utility bills.
The bank has the Baroda Bill Pay service to help their customers pay their bills online. The bank created the Bill Pay service in association with BillDesk. This allows customers to set a schedule for the payment of different bills on a specified date. This facility is often used when the customer has to make payments for specific purposes at regular intervals.
AutoPay: Bank of Baroda’s Standing Instruction Service
The bank’s Baroda Bill Pay service is currently available in the following cities: Mumbai, Bengaluru, Chennai, Delhi, Kolkata, Hyderabad and Ahmedabad. The Baroda Bill Pay offers its customers their standing instruction service called AutoPay. The customer can set up instructions for the payment of their bills, including the date and amount to be paid each month. When a standing instruction is created, bill amounts are processed when the request for bill payments are raised. The customer has the option of reviewing their bills before the amount is debited from their Bank of Baroda account. Furthermore, the bank sends the customer notifications of bills that are due and a notification when payments are completed on their registered email IDs.
Creating a Standing Instruction
The process of creating a standing instruction with Bank of Baroda’s Baroda Bill Pay service is fairly simple and can be completed in a few easy steps. The registration for the service can be done both online and offline.
Offline registration can be done by visiting a Bank of Baroda branch and requesting for a Baroda Bill Pay form. The customer details must be filled out accurately and the personal information section should be filled exactly as provided to the bank when opening the account. The form should also include the customer’s account number, the bank branch’s MICR code and account type. The customer also needs to provide the list of billers to whom they wish to make regular payments. The completed form should be signed by the customer and submitted to the customer’s bank branch.
To register online, the customer has to visit Bank of Baroda’s official Baroda Bill Pay website. Select the “Register Now” option to move forward. The steps to enrol with the bank’s AutoPay service are as follows:
- The customer has to first fill out their personal details. This includes providing their email ID to which the bank would send notifications. In addition, customers would also have to create a username and password.
- The next step in the registration process involves filling out bank details such as the bank account number, account type and the MICR code of the customer’s bank branch.
- The last step in the registration process is printing out the forms filled out and signing both forms. In addition, the customer would have to attach a blank cancelled cheque or a photocopy of the same. The bank would require the blank cheque to verify the code number.
- After these steps above are completed, the forms should be submitted to the customer’s bank branch.
Bank of Baroda offers this service to its customers for free. Standing instructions can be changed or cancelled online by choosing the “Edit” and “Delete” options in the Scheduled Bills sections. Apart from the date of bill payment, the customer can also specify the amount of the bill that they wish to be paid. For instance, the customer can set a standing instruction for the payment of their credit card bill on the 3rd of every month; and can choose to set a standing instruction to pay either 100% of the outstanding amount or 50% of the outstanding amount. In cases where a customer has multiple bank accounts, they can choose the account from which they want the amount to be debited.
The payment of a particular bill is processed after the date specified by the customer in the standing instruction. The amount is usually debited from the customer’s within 2-3 from specified bill payment date. If a customer wishes to know the status of their bills, they can check the “Scheduled Bills” section in their net banking account. If the bill to be paid is still being processed, the status of payment will be marked as “Delivered”. When the payment is complete and the amount has been debited from the customer’s account, the status in the scheduled bills section will be marked as “Paid”.
Closing an Account with Bank of Baroda
If a customer wishes to close their Bank of Baroda account, the following steps should be taken:
- The account holder should provide a written statement of their request to close the account. This can be done by picking up an Account Closure form from the bank branch. The form must be accurately filled and should mention the account holder’s name, account number, mobile number and the mode through which they would like to receive the funds in their account i.e cash, cheque or transfer to another account.
- The form must be signed by the account holder and submitted to the bank branch.
- When submitting the forms, the customer will also have to surrender their passbook, cheque book and debit card. Unused cheque leaves will also have to be submitted to the bank.
- The customer will then have to submit documents for proof of identity and address proof.
- After the above-mentioned documents are submitted, the bank will begin processing the request to close the account. Before the account is closed, the balance is returned to the account holder in the method specified in the Account Closure form.
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