Bank Account Update : In the digital age, everyone opens his account in more than one bank. But no one will have any idea of how much damage can be done behind it. In case of having more than one bank account, the account holder has to bear a lot of loss.
In the era of UPI, everyone keeps many types of online payment applications in mobile. If there is more than one bank, you must also read their guideline. The rules made by RBI and banks are different. While opening an account in a bank, no one reads the entire conditions thoroughly. In this case, we have to bear the consequences. Many times 2 or more accounts are opened even in the case of bank schemes and loans. Let us know about their disadvantages…
If you are thinking of taking loan, PF or mutual funds, or want to open accounts in different accounts for fixed deposits. So know how you can balance them.
Take advantage of various offers
Banks have to increase their customers, due to which they take out many types of offers, such as interest rates, debit cards, insurance, bank locker loans and many other things. You can take advantage of this. Having more than one account makes it easy to book train or flight tickets.
Get more insurance cover
Under the guidelines of RBI, only if the amount deposited will be insured up to Rs 5 lakh. Meaning if the bank becomes poor then you will get back only ₹ 500000. Even if you have more money in your account, that is why you can secure your money by getting insurance.
Bank debit card
The advantage of opening an account in more than one bank is also, do you get the debit card of those banks. From which you can withdraw money from the bank ATM at any time. Also there is nothing to do with the transaction charge.
Opening more than one account has not only advantages but also disadvantages. Open an account wisely.
Fraud
If you are not able to maintain more than one account properly. So many remain inactive. In such a situation, by stealing the PAN card or any ID of the account holder, one can also commit fraud.
Difficulty in filling ITR
If a person keeps more money in the account, then he has to fill his ITR. More information has to be given. In such a situation, it is difficult to remember the details of every account. And it is also difficult to update all your accounts. In such a situation, there is a discrepancy in the details of IT returns.
Pay the charge
At the time of opening the account, a minimum balance has to be maintained in the account. SMS charge, ATM charge, check book fee, many such charges have to be paid. If you open more accounts, then your expenditure increases every year.
Password
It is difficult to remember the debit card password by opening more than one account. Many people forget the user ID and password. And they have to face many problems.
