Specimen Signature verification for BO withdrawal Rs.5000 to Rs.20000

For BO withdrawals ranging from Rs. 5,000 to Rs. 20,000, Specimen Signature (SS) verification must be performed at the Account Office (AO). This requirement is outlined in the POSB CBS Manual, which was updated until December 31, 2021.

Here are the key points to note:

• SS Verification for Withdrawals Above Rs. 20,000: As per Rule 69(7) of the POSB CBS Manual, SS verification should be done at the AO for SB withdrawals exceeding Rs. 20,000.
• BO Withdrawal Voucher Scrutiny: Rule 69(4) states that the AO should scrutinize BO withdrawal vouchers, checking the signature on the withdrawal slip against the SS available on the system.
• Additional Requirements: The AO must also ensure that the amount of the warrant of payment is incorporated into the BO daily account under SB withdrawal and enter the date of withdrawal if it exceeds Rs. 20,000 in the SB 45 register.