What Happens If SBI Account Is Inoperative?

What should I do if my SBI account is inoperative?

What Should You Do If Account Becomes Inoperative Or DormantYou will have to write an application to make your dormant account active.Application should be addressed to the branch manager.You should request for the activation of the account and state the reason of not transacting since two years.More items…•.

How can I activate my SBI inoperative account?

It is possible to activate an inoperative account by following a procedure prescribed by the bank.Account search. The account holder can search on the bank’s website whether his account has become inoperative. … Application. … KYC documentation. … Transaction. … Charges. … Points to note.

Can we reopen a closed bank account in SBI?

Originally Answered: How can I reopen my closed bank account in SBI? You cannot reopen a closed account ,but you can open a new account as usual. You may quote your old customer information number or customer identify number for capturing your old profile to merge with the new account number to be allotted you.

Is there any charges for closing bank account?

Generally, if an account is closed within 14 days of the opening of an account, banks don’t charge any additional charges. However, any closure of the account after 14 days but before a year might attract account closure charges. Also, closure of an account after 1 year normally does not attract closure charges.

How do I know if my bank account is open?

You can speak directly with a bank representative at one of the branch locations. If you have the account number, the representative can verify if the account is active. Most banks also require you to bring an identification card, like a driver’s license or state ID, to verify your identity.

Can we transfer money to inoperative account?

One can activate an inactive bank account by doing basic banking activities such as cash withdrawal or deposit, funds transfer or bill payment. … You can even call the customer care or contact the bank branch. In case of a dormant account, you may have to submit a written request along with identity proof.

What happens to inoperative bank accounts?

What happens when your bank account becomes inoperative? When your account becomes inoperative, restrictions will be put on transactions made on it like ATM withdrawals and internet banking facilities will be stopped. This is done to protect your account against misuse of funds by a third party without your knowledge.

What is the minimum balance for SBI?

Currently, SBI savings bank account customers need to maintain an average monthly balance of Rs 3,000 in metro, Rs 2,000 in Semi urban and Rs 1,000 in rural areas. Further, the bank used to levy a penalty of Rs 5 to Rs 15 + taxes on non-maintenance of average monthly balance as stated above.

What happens if I transfer money to a closed account?

Money never sent to closed accounts ,because when your account was inactive then money will not accepted by that closed account,,,your money will be sent back to your account with in given time period of bank. … Since that account to which you sent money is closed, that bank will return the money to your present account.

How do I know if my SBI account is active?

SBI Account Balance Via Missed call banking From your registered mobile number, SMS ‘REGAccount Number’ to 09223488888. Once the service is activated for you, you will get a confirmation message from the bank.

What happens if you transfer money to an inactive account?

3. The bank turns the account over to the state. In a process what is called “escheating” an account, banks are required to turn over funds from the inactive account to the state treasury. Once the account is sent to the state, the funds are held as unclaimed property.

Does SBI charge for closing account?

According to SBI, for those who choose to close their account after a year, no fee is charged. Similarly, there are no charges for the closure of a regular savings bank account by a customer holding a BSBD or Basic Savings Bank Deposit account with the bank, the website stated.

Do banks charge for closing an account?

Account Closure Fees This fee shouldn’t be an issue if you’re loyal to your bank. But if you’re closing a bank account quickly, typically within 90 to 180 days of opening it, you may get hit with this fee of around $25.

How do I know if my bank account is active or not?

You should visit your nearest bank branch with your account number and they will tell you if your account is active or not.

How can I check my SBI account balance through mobile?

A. Account-holders can SMS “BAL” to 09223766666 from their registered mobile number for instant SBI Balance Enquiry. For SBI Mini Statement, account holders can SMS “MSTMT” to 09223866666.

What happens if I dont close my SBI account?

According to the RBI’s norm, if a customer discontinues using his or her account for 12 consecutive months then banks will automatically make them inactive, and more than extra inactive 12 months will make it a dormant account.

How can I register for SBI net banking?

Download the registration form to apply for Internet Banking facility. Complete and submit the form to the branch where you hold an account. The Branch Officer will guide you through the registration process and will issue the Internet Banking Kit.

What happens if bank account is not used?

If a current account or savings account is left inactive for a specified period of time it will be declared dormant by the bank, meaning it’s inactive or no longer in use. But if there’s any money left in it, you may still be able to track down the account and reclaim any funds.

How long can a bank account be inactive?

12 monthsWhen an account has no transactions for 12 months, it is considered inactive. If there is no activity for 24 months, it is deemed dormant. Remember, system-generated activities like interest credits don’t count. A “transaction” is an activity initiated by the account holder like cashing a check.