Rights of nominee in savings bank a/c

Querist : Anonymous (Querist) 14 November 2011 This query is : Resolved
After the demise of the savings account holder, can the nominee deposit/withdraw from the account? Can the nominee use the debit card of the account holder in ATM or is this a crime?

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Guest (Expert) 14 November 2011
Nominee can only claim and withdraw the money, but won't have any right to operate the account or debit card of the deceased accouint holder.

Debit card, if used after the death of the deceased on knowing the PIN of the deceased would only be a crime on the part of the user, even if he is a duly registered nominee.

ajay sethi (Expert) 14 November 2011
he should not withdraw any funds from deceased account . nominee is only a trustee for legal heirs.

Sailesh Kumar Shah (Expert) 14 November 2011
Agree with Shri PS Dhingra and I would like to add that his position is only 'TRUSTEE' of legal heirs.

prabhakar singh (Expert) 14 November 2011
The moment any a/c holder dyes his a/c legally ceases to exist for any operational purpose such as for withdrawal or deposit any any mode.

The nominee or heirs aware of death of the a/c holder are under a legal duty to report the death not only before the registrar but also to bank.
The nominee 's right is to receive the amount left in a/c is a kind of facility of payment by bank without dispute and nominee is trustee of that amount and can appropriate that to the extent he ,if inherits,otherwise he is duty bound to collect and distribute among heirs.

Operation of a/c by nominee after death of the a/c is severely a criminal offence for which he can be punished in criminal law.
It would amount to fraud and breach of trust and attract many more criminal provisions of the IPC.

Sankaranarayanan (Expert) 14 November 2011
i agree with all experts suggestion and opinion.

Rajeev Kumar (Expert) 14 November 2011
I agree with Mr.Dhingra and Prabhakar singh

Shonee Kapoor (Expert) 15 November 2011
I agree with the expert opinion provided.

Regards,

Shonee Kapoor
harassed.by.498a@gmail.com

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