How to Close IPPB Account Online?

Indian Post Payment Bank, or IPPB, is a department of the Department of Post within the Ministry of Communications of the Government of India. The IPPB bank offers services such as doorstep banking, simple bill payment, quick money transfer, virtual debit card, SMS banking, QR code, mobile banking, email statement, etc. The IPPB offers an annual interest rate of 2.25 per cent. Additionally, you can start an account with no balance. You may also want to know how to close IPPB account. You either desire to do so for financial motives or merely for safety. Closing a bank account, nevertheless, can be done for a variety of subjective reasons. I will tell you how to close IPPB account online, ahead.

How to close India Post Payment Bank account?

: You must first go to the local bank where the account was originally opened in order to close the account. If the staff asks for it, you must then provide your bank details or CIF ID. It is done to track down your account and collect data.

Attach your KYC (Know Your Customer) Documents.

A copy of your PAN, which also acts as your evidence of identification and proof of address, must be attached to the account closure application by all account holders. These documents may also require self-attestation from the account holders.

Give your bank branch your balance cheque slips, debit card, and passbook. You must hand up your Passbook, Debit Card, and any remaining Balance Cheque Leaves. Only when you have turned in all of these items will your application for account closure be accepted for processing.

: You must authenticate by providing a biometric or thumb imprint to prove that you are the legitimate account holder who wishes to close the account. Valid identification documents, such as an Aadhaar card, a PAN card, and a registered telephone number, are required.

: Meet the personnel at the IPPB branch, explain why the branch needs to be closed, and they will handle the rest of the process. You can furthermore complete the IPPB Accounts Closure Form and submit it together with photocopies of legal papers like your Aadhar and Pan Card.

Processing of your request of Closing Savings Account.

You are requested to remove the remaining account balance and proceed with your request to close your account after the banker has verified the documentation you have given.

Withdraw the Balance Amount from your Savings Account. When requested, you can either withdraw cash, request that the bank issue a check or demand deposit in your favour, or transfer the requested amount to another account in order to end your account.

You could easily close your bank account if you followed the aforesaid instructions. After your account is terminated, banks often send an email or SMS to the registered email address and mobile number. I hope I was able to guide you on how to close IPPB account.

My father had an IPPB account and was planning to close it after its maturity. He wanted to know the IPPB account close online procedure. Scroll down to check the process that I found online.

What is the process of India Post Payment Bank account close online?

As my dad was looking for how to close IPPB digital account online, I highlighted that the entire account closure procedure cannot be done online. 

• The only thing that can be done online with this respect is to download the

  SB-7A APPLICATION FOR CLOSURE OF ACCOUNT ON MATURITY

  form online.

• After filling out this form, he must submit the same to the branch manager or the officer in charge. 

• He will be also required to attach his KYC documents

• Give the Bank branch his balance cheque leaves, debit card, and passbook.

You are requested to remove the remaining funds in your account and proceed with your request to close your account after the banker has verified the documentation you have given.

I hope this clarifies your queries about how to close India Post Payment Bank account online.

I also got to know that with effect from March 5th, 2022, India Post Payments Bank (IPPB) charges Rs 150 + GST for closing a digital savings account. This fee will be levied only if the Digital Savings account is cancelled after a year due to a lack of KYC. Otherwise, closing an account is free of charge.

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