In the digital era, even those who have more bank accounts are now facing trouble. As easy as it is to connect bank account and UPI, it is equally difficult to fulfill the condition of the bank.
At this time the biggest problem for bank accounts is more transactions. ICICI Bank itself is also holding the account due to excessive transactions. Many have started having UPI and accounts with everyone, but no one is guessing how much damage it can cause.
Having more than one bank account leads to a lot of hassles including charges. Many accounts are opened by falling into the scheme of banks or in the interest of loan facility. In banks, the customer does not even know why so many pages have been signed and what was written in them. But hardly anyone opens more than one account after reading the terms and conditions of the bank. Let us know the disadvantages of having more than 1 bank account…
If you are thinking of taking a loan, PF or mutual fund, or want to open an account 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. Seeing this, you can open an account in different banks You can take advantage of this. Having more than one account makes it easy to book train or flight tickets.
Get more insurance cover
Insurance will be available only up to Rs 5 lakh if the amount is deposited under the guidelines of RBI. Means if the bank becomes poor then you will get only ₹ 500000 back. Even if you have more money in your account, that’s 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 that, 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.
On opening more than one account, there are not only advantages but also disadvantages. Open the account after thinking carefully.
Fraud
If not able to maintain more than one account properly. So many remain inactive. In such a situation, by stealing the account holder’s PAN card or any ID, he can also commit fraud.
Trouble 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 each account. And it is also difficult to update all your accounts. In such a situation, there is a mistake in the details of the IT return.
Charge off
Minimum balance has to be maintained in the account on opening the account. SMS charges, ATM charges, check book fees, 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.
