Nowadays it is not unusual for a person to have multiple bank accounts. Millions of people in the country have bank accounts but if you have multiple bank accounts, it can cause you big problems. RBI has issued some new rules for those who have more than one bank account. RBI has provided detailed information to customers in this regard. Now the question is, what are the new rules? Let’s find out.
There is no fixed limit– There is no limit set by RBI for opening accounts, but customers often face problems if they have accounts in multiple banks.
Maintaining minimum balance in multiple banks– If you have multiple bank accounts, you have to keep minimum balance in all banks and you have to remember the benefits of each bank and handle all the cards from the check book of the bank.
Multiple charges are payable– There are several charges to be paid for handling bank money i.e. credit and debit card charges, service charges and several other payments you have to make. But if you had an account with a bank, you would get the benefits of only one bank and pay a charge to maintain a minimum balance.
Minimum balance– In addition to keeping the minimum amount, some banks have such rules that if they do not keep the minimum balance with them, there is often a fine of 5000 to 10,000 rupees. And if you can keep the minimum balance, it can ruin your CIVIL score.
Close the account– RBI says that you should immediately close all your unused accounts, so that you don’t face any kind of problem. You can close it by going to the bank branch and asking for account closure form there.