• Two Nominees for a Bank Account in Central Bank of India

My grandmother account is in Central Bank of India bank. She is no more. Online record shows nominee of my father name. But bank manager is saying that there are two nominee registered in our manual record. So only a single person can not the legal heir. My question is how can they register two nominee for a single bank account ?
Asked 3 years ago in Property Law
Religion: Hindu

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8 Answers

Nominee is only trustee for legal heirs .ask bank to furnish copy of nomination form filled in by your grand mother 

 

2) your father should apply for succession certificate from district court 

Ajay Sethi
Advocate, Mumbai
94733 Answers
7539 Consultations

5.0 on 5.0

Dear Sir/Ma'am

Nomination in bank accounts can be done in favor of one person only. However, nomination in favor of more than one (up to two persons) is allowed in case of jointly held and operated locker accounts with common consent. Also, one can have separate nominees for different accounts, FD, savings, and RD accounts, held with the same bank.

However, in your case, it seems like a manual mistake committed by the bank for which you can make an online complaint through their website. Thank You. 

Anik Miu
Advocate, Bangalore
8889 Answers
110 Consultations

4.7 on 5.0

it is permissible to appoint two or more nominees

if the %  of their holding is not specified by the account holder in his nomination form then it will be deemed that both the nominees will take equally

however it is to be seen that both the nominees must be appointed and registered under a single nomination form

if the account holder appoints one nominee and thereafter submits another nomination form appointing another nominee then the previous nomination would automatically lapse 

Yusuf Rampurawala
Advocate, Mumbai
7515 Answers
79 Consultations

5.0 on 5.0

Hello,

  1. It is the discretion of the account holder to nominate more than one nominee if he/she chooses to do so. Alternately, it is possible that the account holder wanted to cancel one of the nominees and failed to do so and both the names continued to be on record.
  2. You can demand the records to be shown to you for inspection and seek explanation from the bank as  to ascertain whether or not there is any foul play and if any take appropriate legal action against the bank and the persons involved.

S J Mathew
Advocate, Mumbai
3548 Answers
175 Consultations

5.0 on 5.0

Dear Sir, 

It is quite possible that some hand written or manual records not uploaded on computer/online. You are suggested to submit the application in this regard to the bank manager. 

Ganesh Singh
Advocate, New Delhi
6757 Answers
16 Consultations

4.5 on 5.0

- Yes, there can be more than one nominee in an account 

- Further a nominee is only trustee of the account , and cannot claim entire amount himself without the consent of other legal heirs of the deceased. 

- Hence, there may be requirement of legal heirs certificate or succession certificate to claim the amount of account.

- However, as per RBI the nominee can withdraw the amount of the deceased person. 

Mohammed Shahzad
Advocate, Delhi
13230 Answers
198 Consultations

5.0 on 5.0

Nomination in bank accounts can be done in favour of one person only. However, nomination in favour of more than one (up to two persons) is allowed in case of jointly held and operated locker accounts with common consent. Also, one can have separate nominees for different accounts, FD, savings and RD accounts, held with the same bank.

Please note that note that the nominee is not the same as rightful owner or legal heir of the asset in case of death of the asset holder, unless specified by the holder.

T Kalaiselvan
Advocate, Vellore
84934 Answers
2197 Consultations

5.0 on 5.0

 Only one nominee can be appointed in case of bank accounts. However, banks allow appointment of different nominees for different accounts in the same bank. Separate nominations forms are required to be submitted in this case

Mohammed Mujeeb
Advocate, Hyderabad
19299 Answers
32 Consultations

4.7 on 5.0

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