After the opening of Jan Dhan account, the number of account holders in the country has become more than before. Many people have more than one savings and current account. To use which account holders have the facility of debit card, credit card and internet banking. With the help of bank account, it is also very convenient for people to transact money. But there are some mistakes due to which your savings and current account can be closed. If you want to avoid any trouble, then you must keep these things in mind.
Account gets closed due to non-transaction According to the rules of Reserve Bank of India, if an account holder does not do any transaction in the account for two years, then his account becomes inactive. The bank puts such an account in the inoperative list. At the same time, no interest is also paid by the bank on these accounts.
Not updating KYC on time According to the rules of the Reserve Bank of India, the account holder has to update the KYC in the account of his bank branch at an interval of three years. If you do not update KYC with the bank on time, then your account can be frozen. In such a situation, your internet banking and debit card may get blocked.
If money comes in the account without any proof – If a large amount of money comes into the account of an account holder without proper knowledge of any source, then in such a situation the account holder can be frozen. For example, suddenly Rs 10 crore comes in someone’s account, whose source is not with him. So in such a situation the bank has the right to freeze such account.
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In case of suspicious transaction – Suspicious transactions are done by the account holder or someone else in the bank account. So the account can be frozen. For example, if money is transferred to your account from abroad and the sender is not known to you, then the bank can freeze your account in such a situation.