Banking related query - Adding a Family Member to Joint Savings Account

iosoft

iosoft

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Hi,

I have a Banking related query.
I have a Joint Savings Account, me and my mother in Indian Bank and SBI.

I want to add my wife in this account, but she doesn't have any existing account in this bank.
She has one account in PNB only.

Now, they are saying that I need to 1st open a NEW Bank Account in her name and then be able to add her in our Joint account!
Is it true?

I do not trust these Govt. bank employees as they have also become liars to sell policies and extras.
Example - I recently went to SBI Branch to open a Small Locker. They demanded to 1st subscribe a 15 (fifteen) Lakhs Mutual Fund!
 
Last edited:
iosoft said:
Now, they are saying that I need to 1st open a NEW Bank Account in her name and then be able to add her in our Joint account!
Is it true?
Click to expand...
unfortunately, yes. whether govt bank or co-op bank or private bank, this is true for all.
You will need to open a new account in your + your wife's name or all of you can go as a family and open an account in all three members name. you can close original account after opening new account if not required.
Bank account is such that after opening you cannot make changes to it unless something happens. You can add your wife to your other savings account as nominee only. If she is not already a nominee in your + your mother's joint account, please add her as nominee if you prefer to keep that account open. Some bank's take a signature from the account holders and nominee so all three of you go to the bank and sort it out.
 
Ask them (Or if you want to) - Add your wife's name Either or Survivor mode, Joint Account has several restrictions.

They may not want to add new individuals (CIF Number) to the existing Account holder ( in your case two existing CIF numbers).

15 Lakh Mutual Fund is ridiculous - Approach to Deputy Manager / Manager of the Branch - Ignore those smart-looking young receptionists (Male / Female), They are just Agent sitting there paying the bank branch some cut money.
 
dissel said:
15 Lakh Mutual Fund is ridiculous - Approach to Deputy Manager / Manager of the Branch - Ignore those smart-looking young receptionists (Male / Female), They are just Agent sitting there paying the bank branch some cut money.
Click to expand...
The Service Manager (not Branch Manager) demanded this....
 
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