If you also have more than 2 accounts, then definitely read this news, otherwise there may be loss
Newz Fast, New Delhi: Keeping one or more than two bank accounts can create many problems for a person. According to the rules of banks, if you do not do any kind of transaction in the account for 12 months, then the bank closes your account.
In this era of digitalisation, today every person has a bank account. But, sometimes we open more than one account. This mostly happens with employed person and businessman.
Keeping one or more than two bank accounts can create many problems for the person. According to the rules of banks, if you do not do any kind of transaction in the account for 12 months, then the bank closes your account.
In case of having more than one bank account, the customer also has to pay many charges. Today in this article we are giving you information about the disadvantages and advantages of having more than two bank accounts.
Take advantage of various offers
Banks come out with various offers to attract and increase their customers. This includes offers of many things including hike in interest rates, debit card insurance, bank loans. Seeing all this, people open accounts in different banks.
Having an account in more than one bank also makes it easy for you to book train and flight tickets as you get cashback and discounts.
More insurance cover
Under the guidelines of RBI, if a bank becomes bankrupt or goes bankrupt, then you will get insurance only up to 5 lakhs.
Therefore, if you keep more money in the account, then you can secure it by insuring it.
Multiple Debit Card
The advantage of having an account with more than one bank is that you get the debit card of each bank. With this you can withdraw money from any ATM, as well as you get many types of offers even when you make online payment.
The disadvantage of having more than one debit card is that if you enter the PIN of your ATM card wrong or enter the PIN of one in another, then your card gets blocked. After that you have to make rounds of the bank.
May be fraud
Many people open more than one account but are not able to maintain them. Due to this some accounts become inactive. In such a situation, by stealing the PAN card or any ID of the account holder, one can also commit fraud.
Difficulty in filling ITR
If you keep more money in the account, then you face difficulty in filing ITR. Because you have to give different information for each account as well as you have to keep all the accounts updated which becomes difficult for you at times.
have to pay extra charge
If you have more than one account, you have to pay separate charges for each account. This charge is deducted according to your convenience, if you have taken a debit card, then its separate charge will be deducted.
If you have taken a platinum card, then your annual charge is deducted accordingly. Having more accounts increases your expenses.
Having more than one account makes it difficult for you to remember your bank password. Many times customers enter wrong ID and password, due to which their bank ID gets blocked and they have to go to the banks again.