Is introduction mandatory for opening current account?

Since introduction is not necessary for opening of accounts under PML Act and Rules or Reserve Bank’s extant KYC instructions, banks should not insist on introduction for opening bank accounts of customers.

What are the requirements for opening a current account?

Account Opening Requirements

• Duly completed account opening form (including signature mandate section).
• 2 duly completed reference forms.
• Means of identification e.g. National Identity Card, Driver’s License, International Passport or Voter’s card.
• KYC Documentation of the customer.
• Valid proof of residence.

Can current account be opened in individual name?

Current Accounts (C/As) can be opened by individuals, partnership firms, private and public limited companies, HUFs/ specified associations, societies, trusts etc. No interest is payable on credit balances in Current Accounts.

Can an illiterate person open a current account?

At the discretion of the Bank, an illiterate person is allowed to open accounts jointly with a person who is literate and closely related to him. Mode of operation has to be jointly operated in that case. Cheque book facility will not be extended in the single or joint savings bank account of the illiterate depositors.

What is required to open a current account?

Current Account for Individuals (business purpose)

• One Identity proof from: PAN Card, Passport, Voter Identity Card, Driving License, Aadhaar Card.
• One Address proof from: Passport, Voter Identity Card, Driving License, Aadhaar Card.
• Recent Colour Photograph.
• PAN/Form 49 A along with Form 60 if applied for PAN.

What is the process to open a current account?

To open a Current Account, all you need to do is:

• Check your eligibility criteria for opening a Current Account.
• Download the account opening form from the bank’s website.
• Fill up the opening form with all the relevant and necessary details.
• Collect the list of documents that will be required by the bank.

How to open a bank account in Union Bank of India?

Open Bank Account in Union Bank of India : Union Bank of India is one of the largest, trustworthy and a growing bank in India. If you plan to open a new bank account, one option must be Union Bank of India. Opening a Bank Account in Union Bank of India is not just visiting the Branch and getting your Bank Account opened immediately.

Is it hard to open a UnionBank savings account online?

As you can see, opening a UnionBank savings account online is not that hard. All you need is a valid ID and you will soon have your own UnionBank account and debit card. You don’t even have to prepare money for your initial deposit.

How do I transfer funds from one union bank account to another?

You can transfer to/from your Union Bank accounts and other owned accounts. You can transfer to non-owned Union Bank or external accounts. To add an account, simply sign on to Online Banking. To add an account to transfer to, simply sign on to Online Banking to do so.

Where can I make cashless purchases with my UnionBank card?

Just like any other debit card, you can use your UnionBank card to make cashless purchases at any store that accepts Visa. Your card is automatically linked to your bank account so you only need to have enough money in your bank account to cover your purchases.