One can easily maintain and manage a bank account if he understands some of the basics of a bank account.
Irrespective of where you operate your bank account, the terms of a bank account are similar.
Taking out a bank account statement, requesting an ATM card or a chequebook, registering a contact number, and registering for online banking and mobile banking are some of the basic tools for the smooth functioning of a bank account.
Including a bank account transfer from one place to another. That means, knowing how to transfer your bank account from one branch to another is quite important.
In this article, we are bringing out some of the easiest ways to transfer your savings bank or a business current account from one branch to the branch of your choice.
How to transfer a bank account?
It is quite a simple task. You may have many options to do so. Nowadays, you may transfer your account online anywhere you need to.
Offline transfers are also quite easy to do.
Bank account transfer through the branch
To transfer the account, you need to fill out the bank’s standard application form, or you may write an application to the bank manager.
1. While filling out the form, you may need to provide the following details:
- Your account number
- Mobile number
- Your account name and address
- Current branch name and code
- Transferee branch name and code
Fill it up and submit it to the concerned staff. Your account will be transferred on the spot.
2. You can also write an application to your bank requesting to transfer your account to the branch of your choice.
A simple application format for account transfers can be seen in the picture. Draft it, make the necessary amendments, and submit it to the bank.
While writing an application, do mention all your account details. Also, provide the branch name and code number where you want to get your account transferred.
3. You may also write an email to the bank email address.
To do so, you may need the branch email ID, which can be found on the passbook front page where your account details are printed.
You may also find the branch email on the statement of account. If you have taken the account statement earlier, see there.
Or you may ask the concerned official for their email address.
Application is the same as above but you must provide a scanned copy of a duly signed ID card.
Online Bank Account Transfer
Recently, banks have come up with the option of online bank account transfer.
It is quite helpful to those who do not have time to visit the bank. Or for someone who has already left the station and never going to come back.
If that is the case, and you have an internet banking facility, you may transfer your account anytime from anywhere.
Login to the bank’s internet banking site and go to the service request menu. Click the account transfer option, select the account number and submit.
It is as simple as that.
Contact Your Bank to Transfer Bank Account
If you can’t visit the bank and you do not have the online banking service, you might contact your bank through email or over telecommunication to transfer your bank account to your destination branch.
Just write an email mentioning all your details and furnish documents such as your passbook copy, identification card, etc.
But, while giving the account transfer advice to the bank, make sure to ask the bank if any other details they need may be reverted back to you.
Online account transfer and its problems
Due to technical glitches, sometimes you may not be able to transfer the account in net banking. At times, the system prompts, Unable to transfer the account; please try later.
If such a message pops up, check if your KYC is properly fed into the system.
To do that, you need to visit the bank and let them check it for you. If not done, submit the KYC and let them update your latest details.
The next day, it must be okay, and you will probably be able to transfer your account.
If you have already left the city, you do not have any other option but to submit the application form, which can be done at the nearby branches.
Let the branch connect you to your home branch.
What type of account can be transferred online?
Most of the banks are giving online account transfer facilities to only savings bank accounts and PPF accounts
If you have recurring deposits and fixed deposit accounts, you have to submit a physical application.
No options are available for online transfers for these accounts.
So you have got to plan accordingly before you leave the town; otherwise, you may be stuck in a bad situation.
Why can’t you Transfer your Bank Account?
Sometimes, banks prohibit the transfer of accounts due to the following reasons:
- When you have existing loans going on. As such, transferring accounts is prohibited due to maintenance problems.
- When you have pending court cases against you.
- Fraud-involved accounts don’t get the account transferred until the case is cleared.
- When you have bad debts in that branch.
Conclusions
Under normal circumstances, you may transfer your account quite easily. Simply submitting the application form to the bank might serve the purpose.
Make sure you do not have any issues and if there are issues they better be cleared before you leave the town else you may have hard times ahead.
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