How to Remove Name from Joint Bank Account? How to Change Bank Account Holder Name?

Описание: How to Remove Name from Joint Bank Account? How to Change Bank Account Holder Name?

Follow these steps to remove joint bank account holder's name

Ending joint holding
Various financial assets such as bank accounts, shares, bonds, mutual funds, FDs, insurance policies, post office schemes etc. can be held jointly. A bank account can be held jointly by two or more people, both of whom are aware of the activities and transactions relating to the account. There may be also be situations wherein one may want to separate ownership and consequently, delete the name of a joint bank account holder. For this, the simple process explained below needs to be followed to make the required change.

Form
Your bank's branch will provide you with a form for deletion of the other bank account holder. Alternatively, you can even download it from the bank's website. The same needs to be filled and signed by the remaining account holders as well as the holder whose name is sought to be deleted.

Details needed
Account number and type of account and name of the holder whose name is to be deleted, should be mentioned in the form. If the account holder whose name is to be deleted is a minor, the guardian’s name also should be mentioned.

New mode of operation
The account holders can change the mode of operation of the account to either jointly, survivor or single. Else one can continue with the original mode of operation.

Debit card/ATM cards
The account holders should return debit/ATM cards issued to the account holder whose name is being deleted, or should sign a declaration that the same has been destroyed by them.

Request for new cheque book
Your old cheque book will not be valid. A request to issue a fresh cheque book with new names can be placed in the same application. Unused cheques may be returned to the bank branch.

Keep in mind
The first or primary account holder's name cannot be deleted.
If the number of the account holder whose name is being deleted is registered for PIN, OTP notifications, the same will be delinked from the records of the bank.


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