There is more than one savings account, if you want to close it, keep these 6 things in mind - Newztezz Online


Friday, August 18, 2023

There is more than one savings account, if you want to close it, keep these 6 things in mind

Usually people have more than 1 savings bank account. In the process of maintaining these accounts, many times people also suffer losses. In such a situation, if you want to close the bank account, then you should take special care of some things so that you do not face any problem in the future.

In today's world, everyone has a savings bank account. Whenever the job changes, the company opens a new account. Due to which 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 the bank starts deducting its different charges. 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.

6 things to keep in mind before closing your account

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 safely or download it and keep it somewhere safe. If your account has been used to pay loan EMIs or for any other purpose, then you may need its statement in future. It is important to keep it safe.

Check if any scheme is not linked- The account you are going to close, once see whether it is not linked to your EPFO, 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 in the same account and if the account is closed, your payment may get delayed. If so, first update the account number, then close your savings account.

Pay Pending Charges – Many times it becomes difficult to maintain the minimum balance in the account if there is more than one account, banks will not allow the account to be closed if the account balance is negative. In such a situation, many times the service charge or the fee charged by the bank, etc. also becomes pending. In this situation, pay all the charges before closing the account, then close the account. With this, your credit score will also be maintained.

Know the closure charges- Usually, banks do not charge any charges for closure of savings accounts within 14 days of opening and accounts older than one year. You may have to pay closure charges if the account is closed between 14 days to 1 year. Know in advance about the account closure charges and avoid closing the account within 1 year.

Method of account closure- To close the bank account, you have to go to the bank branch and fill the closure form. You also have to tell why you are getting your savings account closed. If you have money in your account and you want to transfer it to another account, then you will have to fill another form. At the time of account closure, you will be asked to surrender the unused check book and debit card. Do not forget to take these things with you.

Transfer Automated Payment – ​​If you have any automated payment in your account, then get it transferred to another account.

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