Process of Reactivation of Inoperative Accounts
Inoperative Accounts:
A Savings/Current Account shall be treated as inoperative, if there are no *customer induced transactions’ in the Account for a period of over two years.
Impact on the Account when it becomes Inoperative:
When an Account becomes Inoperative, debit transaction will not be allowed without submission of fresh KYC documents.
Process for activating Accounts:
- Customer with an Inoperative Account need to visit any Utkarsh Small Finance Bank branch with latest KYC documents.
- A request should be given to the branch for activation of Account.
- Branch will activate the Account based on the KYC documents submitted by the customer.
- Customer will be informed through SMS / e-mail on activation of the Account.
- All request received by the branches for activation of account will be processed within three (03) working days from the receipt of the complete application.
Customer Induced transactions:
The transactions in account which are in the nature of:
- A financial transaction initiated by or done at the behest of the account holder by the bank/ third party such as Cash Withdrawals / Deposits, RTGS, NEFT, NACH, Dividend etc. or;
- A non-financial transaction such as an enquiry or request for any product/ service initiated by the account holder through any ATM or internet banking or mobile banking application of the bank or through Third Party Application Providers, which requires two-factor authentication (2FA) and leaves a trail for audit purposes or successful log-in to the internet banking/ mobile banking application etc. or;
- KYC updation done in face-to-face physical mode
Click here for Customer Request form.
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