Are you moving to a new city or changing your address within the same city like Delhi? If yes,
and you want to transfer your savings account to a different branch, then there’s good news. Major banks like Kotak Mahindra Bank, HDFC, ICICI,
and State Bank of India (SBI) now offer online branch transfer services. But to make the process smooth, you should keep a few important points in mind.
Can You Transfer Your Account Online?
Yes, many banks allow you to transfer your branch online. You just need to fill out an online form and submit it to your current branch.
When your branch is changed, your IFSC code also changes. Because of this, you must update services like internet banking, auto-debit instructions, and SIPs to avoid any disruption.
Accounts That Cannot Be Transferred
If your account KYC (Know Your Customer) is not completed, you cannot transfer your account.
Also, frozen or inactive accounts (where no transaction has happened for 2 years) are not eligible for branch transfer.
Don’t Forget to Update Auto-Payments and SIPs
If your savings account is linked to EMIs, auto-debits, or SIPs, you need to update these services after branch transfer because your IFSC code will change. Failing to do this may lead to missed payments.
Documents Needed for Branch Transfer
To transfer your branch, you will need to provide some documents such as:
ID proof – Aadhaar Card, PAN Card, Passport, or Driving License
Address proof
Account details – Passbook or account statement
Checkbook (if available)
What Happens to Your Locker Facility?
If you have a locker in your current branch, it won’t automatically transfer to the new one. You usually have to close the old locker
and apply for a new one in the new branch. It’s better to check availability in the new branch beforehand.
