How to change your bank account name in India?

Hi, I am a lawyer, and recently I have changed by own name, and yesterday, I changed my bank account name. Let me share my experience with you and help you to change your own bank account name.

Let me start from the beginning. If you have any spelling errors in your bank account, you can rectify it by making an affidavit before the notary, and can request the bank authorities to make the necessary modifications. But recently I have changed by name from “XYZ” to “ABC”. And this article will help you to completely change your bank account name (from the old name to the new name).

But before that, let me share with you the procedure for changing your own name as well as your bank account name.

Steps:

1. You need to make an affidavit before the notary regarding change of your name.

2. Then you need to make a publication in your local newspaper regarding the change of your name (at least in two different newspapers).

3. Further, to make everything official, you have to make a Gazette Notification regarding change of your name.

4. Make a few copies of your name change Gazette Notification, and write a letter to your bank mentioning therein that you have recently changed your name and request them to make the necessary changes to your bank account. Attach the copies of the affidavit, newspaper publication and Gazette Notification to your letter and send it to the bank.

5. Some bank doesn’t recognize the value of the affidavit, rather they give high importance to the Gazette Notification and thus to you, Gazette notification is almost mandatory.

Note: Some of the banks in India are yet not powered by sound technology and thus they don’t have the required resources for making changes to your bank account. In this case, you can close your bank account (old name account), and open another bank account in the new name.

One Response to How to change your bank account name in India?

  1. Ashutosh December 12, 2013 at 5:15 pm #

    good info…..i think d easiest way 2 change name in bank account is close d account and open new one…because to make notary,gazette notification is costly process….

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