Rewritten Title:
Bank Sepah Temporarily Suspends Penalties for Bounced Checks to Assist Customers
Bank Sepah Implements One-Month Grace Period for Returned Checks
In response to recent disruptions in banking services, Bank Sepah has announced a temporary suspension of penalties for bounced checks issued between June 13 and July 7, 2023. The decision, made in coordination with the Office of the Prosecutor General of the country, aims to alleviate financial pressures on affected customers during this exceptional period.
Key Details of the Suspension
Under the revised measures, restrictions outlined in Clauses (A) to (D) of Article 5-bis of the Check Law will be postponed for one month from the original due date. This adjustment provides account holders with additional time to resolve outstanding payments without immediate legal repercussions.
Supporting Customers During Challenges
Bank Sepah emphasized its commitment to minimizing hardships faced by citizens due to operational disruptions. The move reflects the institution’s proactive approach to balancing regulatory compliance with customer welfare.
The bank encourages individuals to utilize this grace period responsibly and seek further guidance through official channels if needed.
Note: This decision applies exclusively to checks issued by Bank Sepah during the specified timeframe.
