Know How to activate inoperative account, important documents to activate inoperative bank account, and also important points to note that has to follow…
Banks provide individual accounts for every exclusive customer, such that they have their account balance in it which can use for various financial transactions through offline or online mode. Each customer will have their specific account and it only associated with their personal information. Any transaction that happens, will directly attached to your account and you can view it through the Bank provided statement.
Banks have different rules while maintaining the Account, as there must regular transactions made. If a customer fails to maintain the bank balance does add penalty charges or even get the account on hold. In this article, you will learn more about the process through which you can easily activate an inoperative account for your bank.
What is Inoperative Account
Before you want to activate an inoperative account, you need to understand that Inoperative Account referred to as inactive account or Dormant Account. It means that the Account is currently on hold and it set to not usable. If any customer does not maintain proper balance and has been not using the account for a longer time.
Then the particular account will set to Inoperative Account and no transaction further allowed. This is a common process that followed by Banks to maintain the accounts. Also to remove the Accounts which have not been in use for a longer period.
How to Activate Inoperative Account
Here is the process which you can use and get your Inoperative Account, set to active from the Bank and get it used from start again. The activation process of an Inoperative Account will be fully offline only.
- At the very first step, customers have to get their account number proof, such as a Passbook from the Bank or Bank statement or any official document as proof of Account number.
- Then go to Bank branch and get the Inoperative Account Application form.
- Fill the application form with your details along with mobile number, date of birth and KYC information
- KYC documents must be attached with the application and these documents must match the documents which were used while creating the account in Bank
- Submit the Application Form in the Bank Branch. As per the process, the bank will get the status of your account active.
- That’s it! This is the process which you can follow and get your account activated in quick steps. So this is the only method which has to follow by the customers to activate their account.
Documents to Activate Inoperative Account
An Inoperative Account customer has get the below mentioned documents attach with the application form for further processing.
- Address Proof such as Current Bill
- Identity Proof such as Aadhar Card
- Bank Passbook or Bank statement
- Debit Card provided by Bank
- Passport size photograph
Important points at making account active
- Account Holder must make a transaction at the time of Inoperative account activation by depositing some money.
- There is no right for bank to demand any charges from customer to active a Inoperative account as per RBI rules.
Does the Bank charge to Activate Inoperative Account?
As per the Guidelines for Reserve Bank of India, banks cannot charge to Activate Inoperative Account. There are no charges to be applied by the Bank to get any account activated, as they are going to get a customer back to active state.
Can we activate Inoperative account in Online?
No, the account must present himself before the bank authorities to submit the KYC once again. After submission of KYC particulars, the inoperative account may activate immediately.
Will my Fixed Deposit Account be set to Inoperative Account?
In case, if you’re not using your account for a longer period and you have your fixed deposit in it. then and will not deactivate the account or set it to Inoperative Account, as there are enough funds already in Account which brings monthly interest credited in your account.
How to Close a Bank Account which is an Inoperative Account?
If you have an Inoperative Account, the customer has to reach the Bank branch and get the application form for closure of the account. While closing the account the Bank will deduct the penalty charges and as well will charge cancellation fee to close the customer account completely.
Can I activate an Inoperative Account from Online?
The Inoperative Account will have their Internet Banking, Mobile Banking and all other sources disabled. Thus to Activate Inoperative Account, the customer has to reach to their home branch and submit the application form for activation.
Why is it necessary to have an Active Inoperative Account?
An account when set to Inoperative Account, will not process any of your requests. A transaction which is taking place or any funds to be credited will not be allowed. Thus to accept or send any funds the account status must be changed to active.
