Diamond Bank Cheques Will Become Invalid From March 1st 2020 - Business

Diamond Bank Cheques Will Become Invalid From March 1st 2020 - Business - Nairaland

Nairaland Forum › Nairaland General › Business › Diamond Bank Cheques Will Become Invalid From March 1st 2020 (22957 Views)

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Diamond Bank Cheques Will Become Invalid From March 1st 2020 by ogbiwa(op): 1:08pm On Feb 27, 2020

Access bank plc has directed that all Diamond Bank cheques will no longer be valid for transaction at the end of this month.

Banks across the country have given notice to customers that as from 27th of Febuary, Diamond bank cheques will not be accepted for clearing at the inter bank market.

One of such notice said “This is to inform you that Access Bank Plc has directed that effective March 1, 2020, Diamond Bank cheques will no longer be valid for clearing.
Consequently, from February 27, 2020, Diamond Bank cheques will not be accepted at any of our branches.

It will be recalled that Access Bank acquired Diamond Bank on the approval of its shareholders.

Access agreed to the takeover after Diamond Bank had struggled since 2016 to bolster its capital following loan losses which had forced the bank to sell its foreign subsidiaries.

U.S. private equity firm Carlyle is one of the main shareholders in Diamond Bank, which has a strong focus on banking for retail customers and small businesses.

https://businessnewsreport.com.ng/diamond-bank-cheque-will-not-be-valid-for-transaction-from-march-1/

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Re: Diamond Bank Cheques Will Become Invalid From March 1st 2020 by logon599: 1:09pm On Feb 27, 2020*

Truth is, with advent of CBN's cashless policy, cheques are slowly taking the backseat. Except in some special cases, nobody will usually want to be paid via cheque when you can easily do an instant transfer.

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Re: Diamond Bank Cheques Will Become Invalid From March 1st 2020 by Dandsome: 4:22pm On Feb 27, 2020

And they're saying it now?

When did they start giving the notice?

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Re: Diamond Bank Cheques Will Become Invalid From March 1st 2020 by Deivid10(m): 4:22pm On Feb 27, 2020

Re: Diamond Bank Cheques Will Become Invalid From March 1st 2020 by Legendguru: 4:22pm On Feb 27, 2020

Really

Re: Diamond Bank Cheques Will Become Invalid From March 1st 2020 by dadebayo1(m): 4:23pm On Feb 27, 2020

Noted.. Guess for the big boyz.... Cos transfer ti take over

Re: Diamond Bank Cheques Will Become Invalid From March 1st 2020 by MrThisandthat(m): 4:24pm On Feb 27, 2020

Who still uses cheque anyways

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Re: Diamond Bank Cheques Will Become Invalid From March 1st 2020 by Patrioticman007(m): 4:24pm On Feb 27, 2020

The recapitalization of our banks by Soludo gave birth to financial insecurities to our economical sectors. Ever since then, it has been from mmm, to Amcon taking over of failing banks.