You can execute specific POA in favour of your fiancée to apply to bank fir collection of money lying in fixed deposits ,to apply for succession certificate from district court,to engage lawyer ,to file petition,affidavits etc
Nominee claiming Deceased Deposits from abroad
Hi, I asked this question before, but I still need help and I am looking for more advice and to maybe hire an advocate to assist me. I am an NRI now living in the United States. My mom passed away in 2016 and I am the nominee for her remaining deceased deposits at the Indian Overseas Bank - Mayapur , Nadia West Benghal branch. The problem is that I am having major health problems and it will be a long time before it is possible for me to travel back to India. I really need to find out how I can claim the money without having to travel back. Another big problem is I have no family or friends in India that I can trust to help me. I have in my possession the original death certificate, many Identification to verify my Identity and address, and all the deposit receipts with nominee acknowledgements. I also have the claim form. From the advice I have heard so far I think the best way for me to proceed is as follows. I will write a letter to the bank branch explaining the situation and saying I'm the nominee of my deceased mom's deposits. I would include death certificate and ID originals along with copies and include my U.S. bank account information and address in case they prefer to send a check. I would mail by registered post with acknowledgement cards so that i can confirm the bank receives everything as these documents are very important and I cannot risk losing them. The problem is that I do not know if this would be acceptable for the bank to process. I have tried calling the bank branch and main IOB branch many times to ask them if this will work but I cannot get anyone to talk to me or tell me the rules. I also do not know how I can check the progress of the claim without knowing anyone there in India? I also do not think the bank would mail the documents back to me in the USA because I don't think they will pay the postage. I have so many questions but I am not able to reach any bank official for answers. I do not want to send the application without knowing it is safe and knowing answers first. I really need some advice from above. I would also love to be able to hire a lawyer on this site even to help me call the bank branch just to find out the proper rules and assist me. I wonder if I sent my fiancee with power of attorney if he could check status and retrieve documents. Or if a local lawyer would be able to do that. Also, what is considered proper ID verification documents for this purpose? The deposits are from 2016 so I hope the accounts are still active. The maturity date is Jan 2021 so I also wonder if there would be penalties on the interest. Please if anyone can assist me I can do further consultation or hire. Thank you so much in advance.
Asked 4 years ago in Civil Law
8 Answers
A PoA should be given to a trusted friend/person and he will go to the bank and do the needful on your behalf. An authority letter is also required. You should engage an advocate. You know the procedure you need a trustworthy person.
Please get the nomination claim form signed by you duly attested by the Indian Embassy/Consulate in the USA. Also get the death certificate copy and copies of your ID and address proofs attested by them. Send these documents, together with the details of your US bank account to the bank branch concerned by post/courier. No need to send any originals. Follow up delivery. If there is no response after, say, a week or ten days, you may lodge a complaint online on the bank's website.
In case the Indian Embassy/Consulate is quite a distance away for you, please find out if any India-based bank branches are located closer to you. You may get all the documents duly attested by any officer of that bank (mentioning his/her signature number). It will be possible for IOB to verify that bank officer's signature and process your claim.
Yes I will assist you in this in detail.
If you need any further assistance.you can approach me through Kaanoon or LinkedIn.
Consultation charges applicable. Thanks.
You have not approached the bank with your communications so far.
You can send the application and other documents along with the application claiming the deposits lying on your deceased mother's name.
Since you have been nominated to receive the claim amount by your deceased mother after her death, you are entitled to withdraw the deposits.
The bank would be having the details of the nomination made in your favor.
you may attach your identity proofs to prove that you are the genuine claimant.
You can retain a set of all the papers that you are sending to the bank , besides, you can send the scanned copies to the bank's email address along with your application for the claim.
You can furnish all the details namely the bank account to which you desire to get the amount transferred and give an undertaking assuring the bank to comply with any other requirement that is to be adhered by you in pursuance.
Once you are getting the acknowledgement card duly signed by the bank acknowledging the receipt of your correspondence in this regard, you can very well follow it up on that basis through its higher office too if the bank officials are lethargic towards your claim.
You can even plan to issue a legal notice mentioning the deficiency in their service informing that you may contemplate to sue them in a consumer protection forum.
Hi, It is better you can hire a local advocate and proceed further. Normally, Bank will ask for your physical presence. If you are not able to present before the Bank, through Power of Attorney you can get back your money.
1. The procedure stated by you may not be accepted by the Bank.
2. The Bank will never remit the money abroad to your foreign account
3. However, you can execute POA in favour of your Fiancee duly appending your signature on the POA before the appropriate officer of your local Indian Consulate for his notarising/attesting the said POA which you shall have to send to your Fiancee in India. the aid notarised POA shall have to be appropriately stamped by the Colector in India.
4. Thereafter your POA holder can approach the Bank for getting the Term Deposits encashed in your favour (of which you are the Nomonee) and get the money deposited in your NRE account in India (which you shall have to open).
5. The Bank will thereafter issue the cheques in your favour for depositing to your said NRE account.
Dear client,
A local lawyer can also do that and the verification can be a passport, aadhar card etc. It is most likely that there will be penalties on the interest.
Thank you.
