Inoperative Account: At present, it is common for a person to have multiple bank accounts. In this case, the operation of all accounts is not easy.
At present, it is common for a person to have multiple bank accounts. In this case, the operation of all accounts is not easy. Inoperative account becomes inoperative if there is no transaction in the account for a long time. Now the question arises in such a situation that if we start it again, the bank will not charge the fee? The answer is no. Now it is important to know how you can reactivate your inoperative account.
Account is deactivated if there is no transaction for a long time
According to the Reserve Bank of India, if the bank accounts which have not been operated for more than two years, then such accounts are considered inactive. This rule applies to both savings and current accounts. If you have more than one bank account, always keep a few transactions to keep them active. At the time of net banking, your account can be kept in active mode very easily.
Will not charge
According to former manager of Bank of India, Amardeep Kaushik, there is no charge for reactivation of the account as per RBI rules. If customers do not have to do any transaction in a bank account, then they should close it in time. In such a situation, there is a high probability of getting fraud.
Bank does contact
If there is no transaction in the account for one year, the bank tries to contact the account holder. If no response is received on contact, then the bank will keep trying to contact the account holder for two to three months. If the response is not received, the account will be deactivated for two years. If there is no valid transaction for two years, the account is declared inoperative.
Various services are closed
Banks can stop ATM, Internet banking, phone banking and other services from an inactive or inoperative account. Also, whatever the status of the account, interest will be credited to the account regularly.
How to activate your account
The operative account is done in 24 hours. To get activated, apply in the name of the branch manager. In this, give a reason for the account to be inoperative and explain the reason for activating the account. Also, submit identity proof, passbook or bank check book. After the formalization of Know Your Customer, the bank puts the customer’s account in active mode within 24 hours. Once the account is active, start the transaction.
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