Saving account: Are you shifting from one city to another? Or are you shifting from one place to another in Delhi? Do you want to change your savings account bank branch? In today’s time, many banks such as Kotak Mahindra Bank, HDFC, ICICI and State Bank of India (SBI) offer online branch transfer. It is important to keep some important things in mind to make this process easier.
1. Can a branch transfer be online?
Yes, now many banks offer online branch transfer. For this, you have to fill the online form in your existing branch and submit it. When the branch changes, the IFSC code of your account also changes. Therefore, it is necessary to change service like online banking, auto debit, SIP.
2. Which accounts cannot be transferred?
If you have not yet completed the KYC of your account i.e. Know Your Customer, then you will not get the facility of branch transfer. In addition, frozen or inlineary account, where no transaction has been done for 2 years, would not have been transferred.
3. Update auto-payment and SIP
If there is an auto debit, EMI or SIP link from your savings account, its IFSC code will change as the branch changes. In such a situation, it is important that you update all those service, so that no necessary payment does not get interrupted.
4. Which documents will be needed?
For branch transfer, you have to submit some documents. The list of those documents is given below.
ID proof (Aadhaar Card, PAN Card, Passport, Driving License)
Address proof
Information related to account (passbook or statement)
Checkbook (if it)
5. What will be the effect on the locker facility?
If you have a locker in the existing branch, it will not be automatic transfer in the new branch. Usually you have to close the old locker and take a new locker in the new branch. For this, it is right to contact in advance, because the availability of locker is necessary in the new branch.