Multiple Bank Accounts: If you have more than one bank account then keep these things in mind while closing it...
Nowadays everyone has a savings bank account. Whenever you change jobs, the company opens a new account. Due to this people have more than one savings account. Now it becomes difficult to maintain so many bank accounts. In such a situation, if you do not maintain a bank account, then banks start deducting various charges from it. For which the only solution you have is to close the bank account. However, while closing the account, you should take special care of some things. Today we will tell you what things you should keep in mind at the time of account closing.
Take out the statement- Before closing the savings account, take out the complete statement of the account. You can either take a printout of it and keep it safe or download it and keep it somewhere safe. If your account is being used to pay loan EMI or for any other purpose, then you may need its statement in the future. It is important to keep it safe.
Check if any scheme is not linked - Check once that the account you are going to close is not linked to your EPFO or Income Tax Department account. Apart from this, there is no scheme attached to it, in such a situation, on maturity, the money of the scheme will come to the same account and if the account is closed, your payment may get delayed. If so, then first update the account number, then close your savings account.
Pay pending charges – Many times, if there is more than one account, it becomes difficult to maintain the minimum balance in the account. Banks will not allow closing the account if the account balance is negative. In such a situation, sometimes the service charge or fees charged by the bank, etc. also become pending. In this situation, before closing the account, pay all the charges and then close the account. With this, your credit score will also be maintained.
Find out the closure charge – Generally, banks do not charge any charge for closing a savings account within 14 days of opening and for an account older than one year. You may have to pay closure charges if your account is closed between 14 days to 1 year. Know about the account closure charges in advance and avoid closing the account within 1 year.
Method of closing the account- To close the bank account, you will have to go to the bank branch and fill out the closure form. You will also have to tell why you are closing your savings account. If you have money in your account and you want to transfer it to another account, then you will have to fill out another form. While closing your account you will be asked to deposit your unused checkbook and debit card. Don't forget to take these things with you.
Transfer the automated payment – If there is any automated payment in your account, then get it transferred to another account.
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