Subsequently, all applicants to the bank must submit their Know Your Customer (KYC) documents and photos. On request, the RBI clarified that banks were not responsible for the case where the contents of a locker would be compromised by civil war, burglary or other reasons. The customer keeps his valuables in the locker at his own risk and the banks that provide a safe service cannot be held responsible. Yes, it`s a bit shocking, but it`s true. So, as Shivani told me, you don`t need to be a hot VIP customer from the bank to have a locker – you just have to have an account and be able to pay the annual rent from the locker. Go to any branch of a public or private bank (whether SBI, ICICI or HDFC) where they have lockers and you will know the terms and conditions. But let us spare you the trip and tell you here. If you have claims about such bundled investment systems that are insisted on while you request a safe, contact the bank`s customer service department. If there is no response from the bank within 30 days, you can escalate the complaint to the banking ombudsman. Similarly, if you take a locker, your goods in the locker are essentially the property of the bank, but you keep their belongings.
We have the joint account and bank set at IDBI Bank, we would like to hand the locker to the bank. IDBI Bank asked us for physical presence when handing over From the Bank Is it mandatory under the banking law/rules? I stay in the United States and I can`t travel to Mumbai, India, my wife stays in Mumbai, India. I`m going to sign the necessary documents – send to the bank, will it work? Please share your views/comments/advice with me. Insurance is not required to open a locker. What happens if I send a key to my friend/family member to use the locker in my absence? The locker only opens if the two keys are used together. Thus, a banker accompanies the client in the locker room, inserted his keys with the customers and opened the locker. Then he takes his key and leaves the room. Banks allow you to have a candidate. You can also use a locker as a common holder or in “survival” mode or in survival mode.
It is advantageous to benefit from these benefits, which allow a bank to release the contents of the safe to the nominee or the coach sitting in the event of an unfortunate death. If a box is kept together and one of the holders dies, the contents can only be released jointly by the nominees or survivors, in accordance with the bank clauses. Previously, some banks insisted that customers have parties worth Rs 5. Lakh and more to assign a locker. Or they would ask customers to take out insurance policies. Following an RBI-Master circular on customer service in banks, it is now forbidden to associate lockers with a fixed deposit or the taking of insurance products. In accordance with the RBI`s rules in this area, banks cannot require a customer to purchase FDs to rent lockers of their own.