CAN I CONVERT TRUST MANUAL BANK ACCOUNT INTO NET BANKING OR ELSE MOBILE BANKING

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This query is : Resolved

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A trust with a manually operated bank account is seeking to enable online banking features like net banking or mobile banking. While generally possible with trustee approval, the bank has denied the request. The user is enquiring about alternative online operating procedures, such as NEFT/RTGS via email, and potential actions or RBI guidelines to address the bank's refusal.

PARESH TIKADIYA

PARESH TIKADIYA (Querist)
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14 October 2021 Sir,
A Temple which is governed by trust. A trust has already a bank account which is operated manually at Bank. Can I convert this trust bank account into net banking or else mobile banking?
Is there any other procedure for operating trust bank account online. Like neft ,rtgs through mail.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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14 October 2021 Yes, you can convert this trust bank account into net banking. Get approval of the trustees.
Mobile banking is for personal use.

PARESH TIKADIYA

PARESH TIKADIYA (Querist)
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14 October 2021 But Bank denied for converting trust bank account online. So what action we can take against them. Is there any RBI guideline available?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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14 October 2021 For the safety of funds they may say so.

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