CLOSURE OF ACCOUNTS AT BRANCH OFFICES
(1). The closure of any type of account is not permissible at GDS Branch Post Office.
(2). If the account proposed to be closed after maturity, the BPM shall obtain the SB-7A form and if the account is to be closed prematurely, the BPM shall obtain SB-7B form from the Depositor. In case of Saving Account, unused cheque leaf and ATM card if any issued shall also be obtained by the BPM along with the Account Closure Form (SB-7A) and Passbook.
(3). If the depositor desires to get the closure amount by cash, the BPM shall advise the depositor to go to the Account Office for closure of account. Account Office will follow the process of account closure as prescribed in relevant chapters.
(4). If the Accounts closure by Cheque or by transfer to Savings Account, the BPM will accept the account closure form and passbook from the depositor. The depositor shall write the following in the acquittance portion of the account closure form
“Credit the Maturity Value in Savings Account No. ______________” or “Pay the maturity amount by Account Payee Cheque” as the case may be and sign the form.
Note: If the maturity amount is to be transferred to any Bank Savings Account, the depositor depositor shall write the Bank Account Number, MICR code and Mobile number in Acquittance portion of Account Closure/Premature Closure form along with cancelled cheque or copy of first page of bank passbook along with account closure closure form.
(5). The BPM shall verify all the particulars in the account closure form and BPM will perform the process like verification of signature of the depositor etc as prescribed for withdrawal from savings account. Then, GDS BPM will send the passbook and account closure form duly entered in BO Daily Account. A remark of this will also be kept in the Branch Office Journal. BPM will issue SB-28 receipt to the Depositor. On receipt of cheque and passbook from the Account Office, GDSBPM shall handover the cheque, if the payment is through cheque to the Depositor and passbook(s) and make necessary remarks in the SS Book of the BO, after obtaining the depositor’s copy of SB-28 receipt. If the payment is made through transfer to Other Bank Savings Account, the BPM shall hand over the passbook and signed copy of the account closure report to the Depositor. The BPM will get the signature of the depositor in SS Book in token of having received the cheque towards payment of closed account.
(5). The BPM shall verify all the particulars in the account closure form and BPM will perform the process like verification of signature of the depositor etc as prescribed for withdrawal from savings account. Then, GDS BPM will send the passbook and account closure form duly entered in BO Daily Account. A remark of this will also be kept in the Branch Office Journal. BPM will issue SB-28 receipt to the Depositor. On receipt of cheque and passbook from the Account Office, GDSBPM shall handover the cheque, if the payment is through cheque to the Depositor and passbook(s) and make necessary remarks in the SS Book of the BO, after obtaining the depositor’s copy of SB-28 receipt. If the payment is made through transfer to Other Bank Savings Account, the BPM shall hand over the passbook and signed copy of the account closure report to the Depositor. The BPM will get the signature of the depositor in SS Book in token of having received the cheque towards payment of closed account.
(6). In case of Accounts closure by Cheque, the Account Office will perform account closure process as prescribed in relevant chapters. The Account Office shall send the cheque along with the passbook to BO duly entered in the BO Slip.
(7). In case of Accounts closure by transfer to PO Savings Account, after receipt of Passbook(s) and Account Closure Form, Account Office will perform account closure process as prescribed in relevant rules and update passbook(s) (SB and respective scheme). Thereafter, Account Office will send the passbook(s) back to the BO concerned duly entered in BO Slip.
Note: Till the provision is made in RICT-CBS Application, account closure process should be done only at Account Office.
Procedure in Account Office in respect of Accounts received from GDS BOs for Closure
(1). The Branch Post Office will send the Passbook and the application for closure along with other documents if any, to the account office.
(2). On receipt of Account Closure Form, the Counter PA and Supervisor shall examine the closure form and deal with like other applications for withdrawal of Rs.20,000/- and above
.
(3). The account office shall close the account in CBS Application by following the procedure laid down for closure of account detailed in the relevant chapters.
(4). If the payment is made by cheque, the Account office will send the cheque to the Branch Office duly entered in the BO Slip concerned.
(5). In the payment of closure amount is by transfer to PO Savings Account, after ensuring that the payment is transferred to the Savings Account, Account Office will send the passbook(s) back to concerned BO duly entered in BO Slip.
(6). If the maturity amount is credited in Other Bank Savings Account, after closure of the account, the AO will send the depositor’s passbook and signed copy of the account closure report to the BO concerned duly entered in the BO Slip.
