3 bank accounts with same name

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Vishwas Bidada (Querist)

21 August 2011 hello sir...
one of my friend has 3 saving bank account with his name in same bank and same branch...
is it possible according to law... pls reply me as early as possible...
thanking you...

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

21 August 2011 yes. no restrictions on having more bank accounts in same bank and branch

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)

21 August 2011 There is no problem but bankers r prefer to maintain single account to a customer for same type of account for minimising their work and confusion.However maintain singly account for same type account is also better to the customer because reduces risk,confusion,minimises maintaining of minimum balance. However in case of any enquiry we has to responseble to answer the question why we have maintaining multiple accounts of same type at the same bank & branch if any default found we r liable for punishment. so anyway better to close two accounts and maintaininf single account.
OM SAI SRI SAI JAI JAI SAI

Vishwas Bidada

Vishwas Bidada (Querist)

21 August 2011 Thank you very much sir...
But is there anywhere written in our law that we can open as many accounts as we like..

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)

22 August 2011 No as well as not specified for restruction on no.of accounts but striclty suggested a single customer should have unique customer ID with the BANK.
OM SAI SRI SAI JAI JAI SAI

Vishwas Bidada

Vishwas Bidada (Querist)

22 August 2011 Thank you so much sir...

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