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How to Change Name in Bank Account?
Posted on Monday, September 9th, 2024 | By IndusInd Bank
There are many reasons one may change their name. It may be due to marriage, divorce, or personal reasons.
Whether you have changed your name legally or need to correct a spelling mistake, it is important to ensure your bank records reflect your current name. It is essential to change the name in your bank account to maintain accurate records.
This article outlines how to change your name in your bank account, and the benefits involved.
Steps to Change Your Name in a Bank Account
Updating your name in your bank account is a straightforward process:
1. Legal Name Change
Ensure that your name change is legally recognised before approaching the bank. This involves three steps:
- Sign an affidavit on stamped paper stating your reason for the name change, and have it notarised.
- Publish an advertisement in two local newspapers about your name change.
- Submit the relevant forms and newspaper publications to have your name published in the state gazette.
You will then receive copies of the Gazette which includes your name change.
2. Prepare Required Documents
Collect the notarised affidavit, copies of the newspaper advertisements, and the gazette notification.
3. Write an Application
Now, draft a formal application to your bank’s branch manager requesting the name change. In case of a spelling mistake in your name, you can ask for a name correction application form in your bank.
4. Submit the Application
Attach the required documents and submit the application for a change of name in your bank account.
5. Verification and Confirmation
The bank will verify your documents and process your request. You will be notified via SMS or email once the update is complete.
You can also ask your bank’s customer service team how to change the name in a bank account online to make the process quicker.
6. Update Passbooks and Cards
Request for updated passbooks, chequebooks, debit, and credit cards with your new name.
Now that you know how to change your name in the bank account, let’s see how it can be beneficial.
Why It is Crucial to Update Your Name in a Bank Account
Ensuring your bank account reflects your legal name is important for the following reasons:
1. Legal Compliance – Banks must have updated customer information for legal and regulatory purposes.
2. Consistency Across Documents – Updating your name ensures that your bank account matches your other identification documents.
3. Transaction Validity – An updated name avoids issues during transactions, especially those requiring identity verification.
4. Communication – You can receive important communications, such as account statements and new cards, without any delay.
Also Read: Steps to be Taken If Your Bank Account is Frozen
Conclusion
Changing your name in your bank account is a crucial step for maintaining accurate banking records and ensuring seamless financial transactions. Follow the outlined steps mentioned above to update your name and enjoy uninterrupted banking services.
Whether one wants to change their name in a bank account or transfer funds, having the right banking partner can make a difference. With an online bank account from IndusInd Bank, you can enjoy convenient digital banking services, supportive customer care service, competitive interest rates, and more. You can open a zero-balance account and enjoy these features too!
So, what are you waiting for? Start your journey by opening your online bank account with a zero balance requirement right now!
Disclaimer: The information provided in this article is generic and for informational purposes only. It is not a substitute for specific advice in your circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for making any financial decisions based on the contents and information.
