Add Nominee in Allahabad Bank Account Online

How to add nominee in Allahabad Bank account?: A person can open an account in a bank either singly or jointly. If he/ she is opening an account singly then it is advisable that he/ she must add a nominee in that account so that the nominee can receive the proceeds of the account in a hassle-free manner after the death of the account holder. Joint account holders should also add nominee.

Account holder/s can make nomination by filling up the Form prescribed under the Banking Companies (Nomination) Rules 1985. You should choose a nominee with due care to a person who is reliable enough to take care of proceeds of your account or your assets in the event of your death.

Now-a-days at the time of opening bank account, most of the banks coerce you into making a nomination in the new bank account that you are opening. They even remind elderly customers (who have opened account at a very early stage) to add a nominee, in case there is no nomination in their accounts.

Who is a Nominee in Bank Account?

Nominee in bank account is an individual who is entitled to receive all the account monies on the demise of the account holder/s. When the account holder dies, the bank passes on all the bank account proceeds to the nominee. The nominee receives the claimed proceeds from the bank as a trustee of the legal heirs.

Role of Nominee in Bank Accounts

The nominee in a bank account is a person to whom the bank passes on the proceeds of the account on the ocassion of the death of the account holder. Now it becomes the duty or the legal responsibility of a nominee to act as a trustee and pass on the claim amount to the deceased account holder's legal heirs. If the nominee is not the legal heir of the deceased, then he has no right on the proceeds of the account.

Who can Appoint Nominee in Bank Account

Following persons can appoint nominee in bank account,

1. Bank account holder having account in his/ her individual name or in joint names of two or more individuals can nominate.
2. Legal Guardian on behalf of Minor's account can nominate i.e. the person who is lawfully entitled to act on behalf of the minor in respect of a account.

How Many Nominees can be Appointed in a Bank Account?

A bank account can have only one individual as nominee in bank account. Multiple nominations are not allowed. Banks allow different nominees for different accounts of same account holder.

Who can be Appointed as Nominee?

The account holder can appoint as nominee to any individual be it the family member, relative, friend or anyone any other person whom the account holder trusts.

How to Add Nominee in Allahabad Bank Account?

In order to add nominee in Allahabad Bank account, please go through the following process:

Step (1): Visit your home branch of Allahabad Bank Account

You need to approach Allahabad Bank bank home branch, it is the branch where you have opened your account.

Step (2) Obtain Nomination Form/ form named DA1 from the bank

You ask for providing Nomination Form or form named DA1 from the bank. This form is required to be filled by you when you want to register a nominee in your account.

Step (3) Fill up the Nomination Form/ form named DA1

You need to fill up nomination form DA1 mentioning all the details of the nominee such as name of nominee, relationship, address of nominee, contact details of nominee, etc.

You also need to fill in your account details such as account number, name of account holder, type of account, etc. Then you need to sign the form. All the account holders need to sign the form in case of joint holding.

Check all the details once again like name and address of the nominee is correctly spelt/ mentioned before submitting the form to your bank.

Step (4) Submit Nomination Form/ form named DA1 to your bank

Submit duly filled in nomination form at branch along with an id proof.

Step (5) Processing of Nomination Form

The banker will check the form and if the same is complete in all respects, he/ she will process your request to add nominee in your account. It usually takes 2 to 3 working days to get it processed.

How to Add Nominee in Allahabad Bank Account Online?

First of all, you need to check whether Allahabad Bank provides online banking facility. If yes, then please follow below mentioned process in order to add nominee in Allahabad Bank Account Online Banking:

• Step 1: Visit your bank's website.
• Step 2: Login to your personal account through your login credentials i.e. user name and password.
• Step 3: Check up the list various available options.
• Step 4: If you have nominee facility in this, fill up the details of nominee such as name of nominee, relationship with the nominee and address of the nominee.
• Step 5: Check all the details once again like name and address of the nominee is correctly spelt/ entered.
• Step 6: Click on Submit Button.
• Step 7: You will get a notification on the screen for submission of form.
• Step 8: The bank will process your request.

How to add Nominee in Allahabad Bank through Mobile App?

First of all, you need to check whether Allahabad Bank provides mobile banking app. If yes, then please follow below mentioned process in order to add nominee in Allahabad Bank Account through mobile app:

• Step 1: Download the banking mobile app on your mobile, if not yet downloaded.
• Step 2: Register yourself, if not yet registered.
• Step 3: Open banking mobile app.
• Step 4: Check up the list various available options.
• Step 5: If you find nominee facility in this, fill up the details of nominee such as name of nominee, relationship with the nominee and address of the nominee.
• Step 6: Check all the details once again like name and address of the nominee is correctly spelt/ written.
• Step 7: Click on Submit Button.
• Step 8: You will get a notification on the screen for submission of form.
• Step 9: The bank will process your request.

How a Nominee can Claim in Bank?

The nominee makes the claim on the proceeds of the bank account on the event of account holder's death. Only after the death of the account holder, the nominee is entitled to receive the proceeds.

The bank will ask for following items from the nominee, in order to make sure that the proceeds are handed over to the genuine nominee:

1. Death Certificate of deceased account holder as a proof of death
2. Identity Proof of the nominee
3. Nominee claim form duly filled up by the nominee, which needs to be duly certified by any of the following:
   • A Magistrate or Judicial Official
   • An Officer of the Central or State Government
   • A Bank Officer
   • 2 persons acceptable to the bank (who will act as references)

Bank Account Nomination Rules

• While appointing a nominee, choose a family member like spouse, children, parents, or a person whom you trust.
• Mention full details of the nominee in the form such as full name, age, address and relationship with the account holder.
• Always update nominee details in your bank account after any significant life events such as marriage, birth, divorce, remarriage, death of the nominee, etc.
• A resident can appoint a non-resident Indian (NRI) a nominee in his account, however, the remittance of funds may be subject to regulatory conditions.

Points to Remember for Nomination

• Don't forget to ask for an acknowledgement after the submission of the nomination form.
• Always fill up the nomination form while opening a new bank account.
• Check all the details once again like name and address of the nominee is correctly spelt/ written before final submission of form of nomination.
• Nomination Form is named DA 1 and the form can be downloaded from the bank website in most of the banks.
• Form for nomination having thumb impression instead of signature of account holder/s are required two witnesses.
• Nomination facility is also available for demat account, articles in safe custody, bank lockers and safe deposit vaults.
• All account holders (i.e. new and existing) are advised to avail nomination facility, if they have not availed so far.
• Many banks provide a facility to add a nominee through online or through mobile app.