A detailed account of the process for Bank Account Name Change
Miss Sheena Melvin Das recently got married. Upon becoming a Missus, she decided to honour her husband by taking his last name. She decided to change her name to Sheena Raymond Diaz. She needed to ensure all her documents legally had her new name, including her bank accounts. Like Ms. Das, you too may want to change your name for a legit reason. This article highlights a few reasons why one may wish to change their name, how they can go about it and how they can update their changed name with their banks.
Before changing your name in the bank or your identity proofs, e.g., PAN card, Aadhar Card or Driving License etc., you need to change your name legally. It is a 3-step process involving notarised Affidavit, Newspaper Advertisement and Gazette Notification.
Only after legally changing your name can you apply for a name change in banks and other institutions.
You must present a signed written application to the bank. You can refer to the following sample letter.
The Branch Manager
(Bank name, address)
Subject: Application for Changing the Name of the Bank Account.
I, (your name), hold a bank account with account number (your bank account number), in your branch (your current branch). I have legally changed my name and would like to update the new name in my bank account. A copy of the notarised affidavit, gazette notification and newspaper publications are enclosed for your reference.
Kindly do the needful at the earliest.
(Name and Signature)
Aadhar Card + PAN Card + Video KYC
= Account opened!
If you change your name, you must follow the above process. Only after you change your name legally can you apply to change it in your bank accounts. You can send your bank account name change application online as well as by visiting your bank branch.
With the DBS Bank app, you can open a new savings account online in a few minutes! Download the app to get started.
*Disclaimer: This article is for information purposes only. We recommend you get in touch with your income tax advisor or CA for expert advice.