Saving Account: Are you relocating from one city to another? Or moving from one location to another within Delhi? Looking to change your savings account bank branch? Many banks, such as Kotak Mahindra Bank, HDFC, ICICI Bank, and State Bank of India (SBI), offer online branch transfers.
Add informalnewz.com as a Preferred Source
Saving Account : Are you relocating from one city to another? Or from one location to another within Delhi? Looking to change your savings account bank branch? Many banks, such as Kotak Mahindra Bank, HDFC, ICICI, and State Bank of India (SBI), offer online branch transfers. To make this process easier, it’s important to keep a few important things in mind.
1. Can branch transfer be done online?
Yes, many banks now offer online branch transfers. To do this, you need to fill out an online form and submit it to your current branch. When you change branches, your account’s IFSC code also changes. Therefore, it’s necessary to change services like online banking, auto-debit, and SIP.
2. Which accounts cannot be transferred?
If you haven’t yet completed your account’s KYC (Know Your Customer) process, branch transfers won’t be available. Furthermore, frozen or inoperative accounts, meaning those where no transactions have occurred for two years, are also not transferable.
3. Update auto-payments and SIPs
If you have an auto-debit, EMI, or SIP linked to your savings account, the IFSC code will change upon branch change. Therefore, it’s important to update all these services to avoid disruptions in important payments.
4. What documents will be required?
You’ll need to submit certain documents for a branch transfer. Below is a list of those documents.
ID proof (Aadhaar card, PAN card, passport, driving license)
Address Proof
Account information (passbook or statement)
Cheque book (if any)
5. What will be the impact on locker facility?
If you have a locker at your current branch, it won’t be automatically transferred to the new branch. Typically, you’ll need to close your old locker and get a new one at the new branch. It’s best to contact us in advance, as locker availability is essential at the new branch.
Add informalnewz.com as a Preferred Source
DISCLAIMER
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at informalnewz@gmail.com
