Money is lying on your inactive accounts, this is the way to withdraw, understand the process step by step
Whenever a bank account is not used for a long time, it turns into a useless or dormant account. Then it becomes difficult to access this account. In some circumstances the account is also closed. If your account has not been used for a long time and money is stuck in it, then this news is useful for you.
If your money is stuck in an inactive account, then there is no need for you to take tension. If you want to withdraw your money, then you can withdraw it very easily with the help of some steps. Let us know how…
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This is how you can withdraw money
- First of all, the bank in which you have your account will have to mail that your account has been closed due to non-use. Make it reactive.
- You will also have to attach your KYC documents in the mail.
- Your account will be activated after a few days of sending the mail.
- You may have to visit the bank yourself for KYC.
- If your account is in any other city, then you can get the KYC of the account done by visiting the nearest bank branch of your city.
- After the account is activated, you can withdraw your money through online banking.
What happens to the money in the inactive account?
Inactive or closed account money gets deposited with RBI. This money is called unclaimed amount. Unclaimed means those who do not have any heir. If you want to know the details of the unclaimed amount, then you will get its information on the bank’s website. As per the rule, every bank has to give information about unclaimed amount on its website.