The government has been making efforts over the years to make life a lot easier for our senior citizens. While there is still a lot more to be done, its important for our senior citizens to take advantage of facilities already mandated by the government. One such are is that of Banking. There have been efforts to make the whole process of banking smooth and easy for the older people. But the problem lies in awareness. Many of our older citizens are not quite aware of what facilities are available. In the article below the author tries to cover the banking related facilities that our senior citizens should be aware of and should be taking advantage of. Team RetyrSmart
Are our senior citizens aware of the easy banking facilities being provided ?
For senior citizens and individuals with disabilities, it often becomes difficult to visit banks or ATMs for their banking requirements. Time and again it has been reported that bank employees do not encourage such people and turn them away instead of helping them avail services. Hence, the Reserve Bank of India (RBI) advised banks to provide separate basic banking facilities especially for senior citizens and individuals with disabilities. Such as delivery of cash against withdrawal from the account, pick up of cash and instruments against receipt, delivery of demand drafts, submission of KYC documents and life certificates at the residence of such customers.
Most people in this category, however, are not aware of these facilities. Find out what all facilities you can avail from banks concerning senior citizens and differently-abled persons:
According to the RBI notification, separately for senior citizens and differently-abled people, banks should provide a dedicated counter which provides priority to people who are differently-abled or infirm persons (having medically certified chronic illness or disability, including visually impaired people) and senior citizens.
Auto conversion of account status
Banks should convert a fully KYC-compliant account automatically into a senior citizen account based on the customer’s date of birth mentioned in the bank’s records. Even as of now some banks do not automatically convert even fully KYC-compliant accounts into senior citizen accounts.
And more such facilities like :
Cheque Book Facility
Submitting Life Certificate
Additional Facilities to visually impaired customers
Ease of filing Form 15G/H