Nowadays everyone has a bank account, whether it is to take advantage of government schemes or open by school or for personal or business related purposes. Most of the people in the country have a bank account. For many people, banks also play an important role in everyday expenses. Banks are an important medium for other online transactions related work from online payment. In such a situation, the bank account is not accessible due to servers or other problems. At the same time, some people do not use their bank account.
In such a situation, people’s bank accounts can be closed or freeze. Therefore, it is important for everyone to use their bank account properly and avoid making some mistakes. If they do not do so, their bank account can be closed or freezed. Let’s know about it in detail.
KYC is not being updated
Often people open their bank account but do not pay attention to important information or updates related to it. Bank account holders will have to update KYC in their accounts. According to RBI rules, account holders are required to update KYC once every three years. If you do not do so, your account can be closed or freezed by the bank.
Suspicious transactions are also a reason
If there is a suspicious transaction in the account of the bank account holder, action can be taken by the bank. Your bank account can be freeze due to sudden large amounts of money coming from abroad in the bank or huge purchases outside the country. However, if the transaction is done correctly and properly confirmed, the bank will restore your frozen account.
There is no transaction of any kind for two years
Whether it is a savings account, current account or zero balance account, it is important for all types of bank account holders to be active about your bank accounts. If no transaction of any kind has been done by the account holder in the last two years, these accounts are put in the list of non-operative bank accounts by the bank. In such a situation your bank account may be inactive.
If you suddenly deposit lakhs of crores of rupees in your bank account and you do not have any evidence of this, then trouble may increase for you. In such a situation you should contact the bank immediately. The money from somewhere without any evidence can close or free your account.
If you have not submitted your correct documents in the bank or have not updated them to the bank account, then in case of any change, your account can be freed. Therefore, it is important to keep your bank documents updated and do not forget to update your phone number with your email ID.