ATM Card Cash Withdrawal Rules: Now there is no need to go to the bank for every work related to the bank, because now most of the work is done sitting at home. Send money to someone, apply for ATM card, apply for check book, take loan etc.
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Unknowingly how many works are done from home. On the other hand, now you do not even have to go to the bank to withdraw money, because after the advent of ATMs, you can withdraw money from your bank account whenever you want.
Just for this you need an ATM card, but do you know that if you withdraw money from someone’s ATM card, then you can be jailed? Probably not, in which case it becomes important for you to know the rules first. So let’s know about this. You can learn about it in the next slides…
- Actually, what happens is that when a person dies, his family members withdraw money from his ATM. But here it becomes necessary to know that it is illegal to do so. Even if the nominee withdraws money from the bank account of the deceased person without informing the bank, it is also wrong. There is a provision of punishment if caught in this.
What does the rule say?
- If you withdraw money from the bank account of a deceased person, then you have to follow the rules of the bank. Under this, only after the death of the person, after transferring all his property in his name, his money can be withdrawn. You have to inform the bank about this.
Nominee Rules
- On the other hand, if the nominee is one then he/she can withdraw money from the deceased person’s bank account, but if there is more than one nominee, you have to show the consent letter to the bank and only after that you can withdraw money from the deceased person’s bank account.
This is how you can withdraw money
- If you are the nominee of the deceased person’s bank account, then you have to fill a form. Along with this filled form, you have to provide the passbook of the deceased, TDR of the account, death certificate and your Aadhaar card and PAN card. After the completion of this process, you can withdraw the money.
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