Closing of Current Bank Account

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This discussion clarifies that while a proprietor can close their own current bank account, an authorised person generally cannot initiate closure on their behalf, especially after the proprietor's death. For accounts of a deceased individual, only a nominee can apply for closure, or a succession certificate must be provided to the bank. This is particularly relevant for older accounts where specific nomination details might be missing.

Kantilal G Jain

Kantilal G Jain (Querist)

05 November 2020 can authorised person close the bank account sole proprietor bank account

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)

05 November 2020 Yes, Proprietor has all the right to close current account.

Authorised person can right letter take signature of Proprietor can initiate bank account closer.

Kantilal G Jain

Kantilal G Jain (Querist)

05 November 2020 Do you Meen Sir that Authorised person doesn't have the right to Close Current Bank Account of Sole proprietorship bank Account in Propertie Absence.

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)

05 November 2020 I DONT THINK SO BANK WILL CLOSE ACCOUNT ON THE BASIS OF AUTHORISED PERSON INTIATE , AUTHORSED PERSON STILL CAN APPROACH BANK MANAGER FOR CLOSER OF CURRENT ACCOUNT .

Kantilal G Jain

Kantilal G Jain (Querist)

17 November 2020 Sir if there is no nominee named in Current Bank Account as Account was opened more than 40 to 45 years ago and most of all rules and regulations have changed after 2014 as far as I know and I was authorized person in the Account by my father who was Proprietor and He died in 2009 and he hade closed the Firm legally but didn't close the Current Account and as a Authorized do I have the Rights to close the bank account or my mom has the rights to close the account?

Kantilal G Jain

Kantilal G Jain (Querist)

20 November 2020 Sir if there is no nominee named in Current Bank Account as Account was opened more than 40 to 45 years ago and most of all rules and regulations have changed after 2014 as far as I know and I was authorized person in the Account by my father who was Proprietor and He died in 2009 and he hade closed the Firm legally but didn't close the Current Account and as a Authorized do I have the Rights to close the bank account or my mom has the rights to close the account ?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

02 October 2021 Only nominee in the account can apply for closure, not any authorized person.
Otherwise,
For closure of any bank accounts of a deceased person, you need to submit a copy succession certificate.

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