Post Office account withdrawal rules eased for senior citizens. New process explained
Premium- The new post office rule is applicable on withdrawal or loan or closure or premature closure of their accounts
Department of Post has been receiving various representations from the depositors that due to old age or illness they are unable to attend post offices for withdrawal or loan or closure or premature closure of their accounts. To ease the difficulties faced by the senior citizens or people suffering with illness, the postal department has has decided that “in case of extreme exigencies (senior citizens or illness of account holder or suffering from physical infirmity or is with differently-abled conditions) the withdrawal or loan or account closure or premature closure may be allowed through authorized person".
However, for safety of depositor's money, the postal department has come out with guidelines for post offices and account holders to be followed for operation of account including withdrawal/loan/closure/premature closure of account through authorized person.
New post office rule - here are the guidelines:
-The post office account holder has to write an application in Form-12 to the postmaster concerned, for operation of account - withdrawal/loan/closure or premature closure of account etc - authorizing a person for operation of his/her account.
-The signature of the authorized person has to be attested by the account holder
-ln case of Joint B Account, any one of the account holder(s) can attest the signature of the authorized person (The authorized person shall not be an post office agent or employee working in the post office savings bank branch)
-The account holder has to fill the withdrawal form (SB-7)/closure form (SB-7A) / account premature closure form (SB-7B)/Application for Loan (SB7C) as the case may be in his/her writing and signed
-Self attested copy of ID and address proof of account holder(s) and authorized person have to be enclosed.
-The authorized person has to submit passbook, authority letter (Form- 12), withdrawal form (SB-7) / closure form (SB-7A) / account premature closure form (SB-7B)/Application for Loan (SB-7C) as the case maybe and KYC documents of account holder and authorized person at concerned post office
-The counter postal assistance after tallying the signatures will submit the case to supervisor for approval.
-The supervisor will check and verify documents as well as signature of the account holder with office record and if he/she is satisfied' he/she shall write order on top of the application as "authorization accepted" and sign.
-In case the supervisor is not satisfied, he/she may depute a responsible official to physically verify the request of account holder for withdrawal or loan or closure or premature closure of his/her account before effecting payment.
-Thereafter, counter postal assistant/supervisor will the process for withdrawal/Loan/Account closure/Account premature closure, as the case maybe.
-The payment shall be made by account payee cheque or credit in to PO Savings Account or Bank Account of the account holder(s). No cash payment' will be given to the authorized person except in case of withdrawal from savings account.
-Signature of authorized person should be taken in acquaintance part of withdrawal form/account closure form/account premature closure form.
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