Bank account closure

[Abhi27]

If i close my bank account associated with credit card, will the credit card also be closed??

 

[prc1990]

If i close my bank account associated with credit card, will the credit card also be closed??

No as they are individual accounts. However if it is FD based, then it might get closed.

 

[Abhi27]

No as they are individual accounts. However if it is FD based, then it might get closed.

Okay

 

[iAmPm]

If I close an account in bank A and then some fund gets credited from LIC or from any source where that account A has been given. What will happen?

 

[BankExpertIndia]

If i close my bank account associated with credit card, will the credit card also be closed??

No!!

As The Credit Has A Separate Bank Account In It. Credit Limit Is Your Deposit. So It Won't Affect!

 

[iAmPm]

Update NEFT mandate on LIC

LIC was just an example but there will be other places where i will forget to give my new account details I am asking about them. will they automatically point to my other account as all accounts will be linked to my aadhar n PAN

 

[AllSeeker]

Only problem you will face is, in some banks they don't allow to change "Auto-debit" option for CC due payments, so if you have it on and can't turn it off or change source bank a/c, then that could be a complication.

I'm saying this from experience, I'm having this problem in axis.

 

[Bob78900]

LIC was just an example but there will be other places where i will forget to give my new account details I am asking about them. will they automatically point to my other account as all accounts will be linked to my aadhar n PAN

No you have to update your bank details to each and every companies like lic and in case of auto debit of payments of cc and loan you have to give new bank details to the merchant

 

[Souvik]

Only problem you will face is, in some banks they don't allow to change "Auto-debit" option for CC due payments, so if you have it on and can't turn it off or change source bank a/c, then that could be a complication.

I'm saying this from experience, I'm having this problem in axis.

Good to know of this one, I plan to close my SBI association soon.