A bank account can be opened by an individual and operated by self or it can also be opened by two or more individuals and operated jointly. Most of the banks, post offices, financial institutions, shares, mutual funds, bonds, insurance policies and so on provide an option to hold and operate the account jointly.
As per the existing rules, a bank account can be held jointly by two or more people. In such cases, all the holders of a joint account will be aware of the transactions and activities relating to the account.
But there might arise a situation wherein one of the names of the account holders has to be deleted from the joint bank account or one may want to separate the ownership and thus consequently, the name of the joint bank account holder has to be deleted.
The name of the first or the primary account holder cannot be deleted from a joint bank account. Only the names of secondary and subsequent account holders can be deleted from a joint bank account.
If in case, the number of the account holder whose name is intended to be deleted is registered for receiving OTP and PIN notifications, then the same will be delinked from the official records of the bank post-approval from the bank.
In such cases, one has to follow the simple procedure to make the necessary changes.
Filling up of Form
The account holder has to first take an application form for deletion of the bank account holder from the respective bank branch wherein the account is held. The application form can also be downloaded from the bank's official website.
After securing the application form, the applicant has to duly fill in all the necessary details. It has to be signed by the remaining account holder and also the holder whose name is intended to be deleted from the joint bank account.
In the application form, the accurate details relating to the type of account, account number, name of the holder whose name is intended to be deleted should be mentioned. If in case, the account holder whose name is to be deleted happens to be a minor, then the guardian's name should also be mentioned in the form.
Mode of Operation
Here, the account holders can change the mode of operation of the account to either single or survivor or jointly as well. One can even opt to continue with the original mode of operating the said account.
ATM Card or Debit Card
The account holders should return the debit or ATM card issued to them at the time of opening the account. Else, they should sign a declaration form that the same will be destroyed by them.
Request for New Cheque Book
The account holder has to make or raise a request for issuing a new cheque book with the new names printed on the chequebook. The request for the same can be raised in the same application.
Note: Do return unused cheque leaves of the old cheque book operated through a joint account to the respective bank branch.