Eligibility for Account Transfer

• Most banks in India allow current accounts to be transferred between branches.
• The account holder must have no outstanding dues, pending cheques, or overdraft issues.
• The account should be KYC compliant and actively maintained.
• Transfers are permitted within the same bank network and supported branches.
• The business must update relevant financial and regulatory records post-transfer.

Online Transfer Process

• Log in to the bank’s internet or mobile banking platform.
• Navigate to the “Service Request” or “Branch Transfer” section.
• Fill in the request form with the new branch name and IFSC code.
• Confirm the request using OTP or transaction password.
• The request is typically processed within 3 to 5 working days.

Offline Transfer Process

• Visit your existing branch and request a current account transfer form.
• Fill in the form with details of the new branch and business information.
• Submit valid identity proof and authorization letter (if operated jointly or by firms).
• Return unused cheque leaves or apply for reissue under the new branch.
• Collect a written acknowledgment after submission of the request.

Impact on Account and Services

• The account number usually remains unchanged in CBS (Core Banking System) banks.
• Cheque books and debit cards may be reissued with updated branch details.
• Nomination and service instructions continue unless modified.
• Existing standing instructions, ECS mandates, and linked services remain active.
• Banks send SMS or email confirmation upon successful transfer.

Points to Remember

• Inform vendors, clients, and tax departments of the new branch address.
• Update GST, ROC, or other registrations if linked with the branch address.
• Ensure the transfer does not interrupt daily business operations.
• Maintain the required balance and monitor statement updates post-transfer.
• Contact the new branch to activate personalized services or relationship support.