After the death of someone, it is illegal to withdraw money from his account through ATM. The nominee also cannot withdraw money from the account after the death of someone without informing the bank.
New Delhi: People deposit their lifetime deposits in the bank and withdraw it when needed. Earlier, people used to withdraw money from banks by standing in the queues of banks from 10 am to 2 pm. But digital banking and ATM have made this work very easy. Now you can withdraw money from the account at any time. But after the introduction of digital banking, many cases of fraud have come to the fore.
It is illegal to withdraw money from the deceased’s ATM
It has been seen many times that after the death of someone, family members withdraw money from his account through ATM, which is illegal. Let us tell you that even the nominee cannot withdraw money from the account after the death of someone without informing the bank. If someone is caught in such a case, then he can also be punished. Let’s know about it in detail..
You can withdraw money only after following the complete process
According to the law, after the death of someone, it is wrong to withdraw money from his account through ATM. You cannot do anything with their money until you get all the assets transferred in your name after the death of the person. To do this, you must first inform the bank that the account holder has died. After this the nominee can complete the entire process and withdraw the money. On the other hand, if there is more than one nominee in that account, then all the nominees can withdraw money from the account by showing the consent letter to the bank.
Will have to claim like this
It is worth noting that the nominee can go to the bank and claim the amount deposited in the account of the deceased. For this he has to fill a form. Along with this, some important documents like passbook of the deceased, TDR of the account, ATM, check book, death certificate of the deceased and his Aadhar card, PAN card are also to be submitted in the bank. After this the bank gives the money of the deceased’s account to the nominee and the account of the deceased is closed.
