If the deceased has made more than one nominee in his bank account and one of them wants to use that money, then he has to take consent letter from other nominee and file it in the bank.
Bank News: Technology has made life very easy. Especially in the case of banking, technology is proving to be very effective. With the introduction of facilities like online banking, debit-credit card, bank at your door, where the congestion in banks has been relieved, the account holders have also breathed a sigh of relief.
But sometimes in the absence of correct information, the use of technology can prove to be more harmful than profit.
Just a recent case has come to light that after the death of his wife, a man withdrew money from his bank account through ATM. The husband devised this method to avoid the necessary paperwork related to the death of the wife. But this cleverness of her husband overshadowed her. Taking legal action against the husband, the bank has lodged a complaint with the police.
From this it is clear from the case that it is illegal to withdraw money from the bank account of a deceased person through ATM, even if the person withdrawing money is the nominee of the deceased. It is a legal process to transfer the property or money of a person in the name of the nominee on the death of a person.
One of our acquaintances raised questions on the working of the banks and made an argument that he is keeping checks signed by his wife. Along with this, the wife’s ATM card has also been made. In case of any untoward incident, the merchant suggested this unique way to avoid the paperwork of the bank.
Many questions arise from the suggestion of the businessman. For example-
– Is it legal to withdraw money from the bank account of deceased parents using ATM card and PIN?
– If someone has withdrawn money after the death of the parent informing the bank, but later informs the bank about the death of that person, will the withdrawer get a criminal penalty?
Will there be any dispute or claim with respect to the account or legal heirs?
The law states that such cases amount to defrauding the bank and other legal heirs. In such a situation, one can file a police complaint which will be investigated. Criminal punishment will be applicable on the basis of these charges.
If the deceased has made more than one nominee in his bank account and one of them wants to use that money, then he has to take consent letter from other nominee and file it in the bank.
Keep these things in mind,
if a person had an account in the bank and he has died, then before filing the death claim, his family members should take care of some special things. Find out whether the deceased’s bank account was a joint account or alone. After this find out whether the name of the nominee was registered in the bank account or not. If an account holder dies, then his family members can claim the amount kept in the bank account.
After the death of the account holder, the nominee can file the claim by filling the claim form in the bank. After filling the claim form, the nominee has to attach the original passbook, TDR of the account, check book, ATM card and death certificate of the deceased. Along with this, proof of identity of the nominee and proof of address has to be attached.
If there is no nominee, then
if the name of the nominee is not registered in the bank account, then the bank can give the amount in the account to the legal heirs of the deceased. For this a certificate has to be given to the legal heir of the deceased. If there is no dispute between the legal heirs of the deceased and all the legal heirs of the deceased go to the bank and give an affidavit, then the legal heir can get this amount.
