How to Transfer a Current Account from One Branch to Another?

Why you Need to Transfer Current Account from One Branch to Another?

There may be several reasons due to which you need to transfer current account from one branch to another. Some of them are,

  • Relocating yourself and your family to a different place
  • Shifting to a different city
  • Job Shift
  • Personal or family-related reasons like marriage, childbirth, etc.

Due to any reason, you may feel transfer of your current account from one branch to another branch. In such case, you need to follow these steps for the purpose of transfer of your current account from one branch to another branch,

(1) Choose a New Branch

Choose a new branch where you want to transfer your account. You should keep following points in mind while selecting the new branch,

  • It should be nearby your home or office so that you can operate it easily
  • It should also provide you digital banking facilities which is the need of the time.
  • The banking staff should be helpful.

(2) Visit Your Home Branch

You are first required to go to your branch personally where your existing account is. You can talk to a bank representative or a customer service officer for transferring your bank account to a new branch. He will inform you the process and provide you the necessary forms for the same. Then you would give a request for account transfer.

(3) Submit a Request to Transfer Your Current Account

You are now required to submit a written application for transferring your current account to another branch. You need to mention the name of the branch properly and with due care, where you want to transfer your existing account. Some banks also require the reason for such transfer.

The request should include,

  • The name of your current branch
  • Your account number
  • Your Customer Id
  • The name of the new branch
  • The reason for the transfer
  • Proof of new address
  • Your contact details such as new landline or mobile number

(4) Submit KYC Documents

You have to submit KYC documents, in case your bank asks for them, which include copies of PAN Cad, Identity Proof and Address Proof.

The banker will verify all the documents and if everything is complete, it will initiate for transferring your account to the new branch. It usually takes 2 to 3 days' time.

(5) Confirm The Transfer

After a couple of days, contact your old branch and confirm whether your account transfer request has processed. They will provide you details as soon as the transfer is processed.

(6) Visit Your New Branch

After getting the transfer confirmed from your old branch, you may visit to your new branch for confirmation purpose. The customer ID usually remains unchanged but the account number may change depending on the bank branch. The branch will help you your new account number (if changed) and provide you with new cheque book and a debit card/credit card, if necessary.

(7) Check Your Account

You should check the account statement and transactions with due care to confirm that everything is in perfect order. In case of any issue, you need to inform the new branch so that it can be resolved immediately.

(8) Submission of New Instructions

You should submit revised instructions for any existing ECS and standing instructions which were issued in your old branch, if there is a change of account number.

Fees Charged to Transfer of Current Account to Another Branch

Banks cannot charge any fees for the transfer of an account to a different location. Hence, no charges need to be payable by the account holder for transfer of deposit account from one branch to another. Transfer your current account to another branch will be totally free of cost.

Time Taken to Transfer of Current Account to Another Branch

Banks usually takes 2 to 3 days' time to transfer the current account to another branch. Sometimes this transfer process may take 8 to 10 working days. As soon as the account is transferred, the customer is allotted the new account number and a new cheque book is issued.