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Utkarsh sfb opened my online savings account with an extra space between my first name and last name

NikhilG

TF Premier
I opened a basic savings account with utkarsh small finance bank online.
I was trying to add the above new account as beneficiary from my icici. While verifying the beneficiary name it asked to update from records. Voila it added an extra space between first and last name. At first I thought it as some error. I tried again, same result. Went ahead and tried 1 rs imps. Worked
Thought some glitch and tried adding same beneficiary from my hdfc and guess what same extra space.
So my records in Utkarsh Bank has an extra space, Why would they do it? How did it happen. It automatically fetched my details from adhar. I'm really bullish about correcting thus before parking large funds.
Did anyone experience similar?
 
This is expected from a SFB, even PSU banks do not have appropriate fields for first, middle and last name.

Check if the name is without space as per bank records or it's only the lookup name having the issue.
 
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NEFT/RTGS/IMPS don't look for correct name since 2019 as RBI allowed tfr to be credit without matching name. Before this, an incorrect name lead to txn reversal. Though IMPS never had this correct name issue as since its inception it wither worked on Mob Number + 7 digit MMID or full acc. number and no name matching.

I too have an extra space in one of account. No problem faced with it. Even UPI verification using that account for name matching gives no error.

The only reason I never used my aadhaar for anything like opening bank account or any financial products is for same reason. I visit branch and complete these formalities and insist the person to let me check the details by telling him that, in future, I won't blame him for any mistake,

Even if you don't correct, it wont be any problem if all the letters are matching correctly in name and surname. System don't take spaces are field value anymore.
 
NEFT/RTGS/IMPS don't look for correct name since 2019 as RBI allowed tfr to be credit without matching name. Before this, an incorrect name lead to txn reversal. Though IMPS never had this correct name issue as since its inception it wither worked on Mob Number + 7 digit MMID or full acc. number and no name matching.

I too have an extra space in one of account. No problem faced with it. Even UPI verification using that account for name matching gives no error.

The only reason I never used my aadhaar for anything like opening bank account or any financial products is for same reason. I visit branch and complete these formalities and insist the person to let me check the details by telling him that, in future, I won't blame him for any mistake,

Even if you don't correct, it wont be any problem if all the letters are matching correctly in name and surname. System don't take spaces are field value anymore.
Is this because the account was opened via aadhaar?
These days bank need an excuse to freeze your whole account. I don't want to take any chances.
 
This is expected from a SFB, even PSU banks do not have appropriate fields for first, middle and last name.

Check if the name is without space as per bank records or it's only the lookup name having the issue.
What is the lookup name?
When I see personal details under netbanking column it shows correct space. What's wrong?
 
I opened a basic savings account with utkarsh small finance bank online.
I was trying to add the above new account as beneficiary from my icici. While verifying the beneficiary name it asked to update from records. Voila it added an extra space between first and last name. At first I thought it as some error. I tried again, same result. Went ahead and tried 1 rs imps. Worked
Thought some glitch and tried adding same beneficiary from my hdfc and guess what same extra space.
So my records in Utkarsh Bank has an extra space, Why would they do it? How did it happen. It automatically fetched my details from adhar. I'm really bullish about correcting thus before parking large funds.
Did anyone experience similar?
This won't cause you any issue so stop worrying about it. If your PAN and Aadhaar is updated with the bank then all is good.
Even if you put beneficiary name as "ABC XYZ" as long as account number and bank is correct, transfer will be successful.
Also upto 5 Lakh is safe in the bank as per DICGC.
 
What is the lookup name?
When I see personal details under netbanking column it shows correct space. What's wrong?
It's the name visible on other bank's net banking page when doing fund transfer.

Recently, I updated my name with Kotak Bank. Earlier the name was - Trump Donald.

Changed to Donald Trump, and it's updated everywhere except fund transfer (beneficiary name lookup) from other banks. It's still showing as Trump Donald.

I requested Kotak bank to make the correction and it took them 3 months to fix this.
 
Is this because the account was opened via aadhaar?
These days bank need an excuse to freeze your whole account. I don't want to take any chances.
You are worrying too much.

If everything is fine at your end then banks dont freeze your account without any reason.

I have been dealing with banks from 20+ years and never seen any bank freezing my account except expired KYC which I forgot to re-submit once. Genuine txns karo aur mast raho. Apne account mein credit debit har saal crores mein hai even then no bank has ever called me. Proper documentation is with them and txns are done accordingly not over it.
 
This won't cause you any issue so stop worrying about it. If your PAN and Aadhaar is updated with the bank then all is good.
Even if you put beneficiary name as "ABC XYZ" as long as account number and bank is correct, transfer will be successful.
Also upto 5 Lakh is safe in the bank as per

You are worrying too much.

If everything is fine at your end then banks dont freeze your account without any reason.

I have been dealing with banks from 20+ years and never seen any bank freezing my account except expired KYC which I forgot to re-submit once. Genuine txns karo aur mast raho. Apne account mein credit debit har saal crores mein hai even then no bank has ever called me. Proper documentation is with them and txns are done accordingly not over it.
I guess you are right maybe I'm thinking too much but I see lot of youtube videos where people bank accounts are getting freeze due to some or other reason. First time I m dealing with small finance bank so I m a bit skeptical.
Do you have any experience with any sfb?
 
I guess you are right maybe I'm thinking too much but I see lot of youtube videos where people bank accounts are getting freeze due to some or other reason. First time I m dealing with small finance bank so I m a bit skeptical.
Do you have any experience with any sfb?
I tell you one thing. Stop believing what youtubers say. I dont spend a minute on youtube videos. In life when you have ground experience you can differentiate between right and wrong yourself. People are youtube at clueless ba***rds except some who talk to the point and have shared their correct experiences which even we can confirm as right.

I am shocked that today's generation is so not interested into finding asnwers itself that they believe whatever nonsense is running on youtube, insta, fb etc. Apna account hi nahi hai inpe. Google ka account bhi bas gmail ke liye rakha hai. Baki sab services bandd karke rakh di thi bahot pehle. Jaise hi woh koi door open kartey hai settings mein se hum close kar dete hai.

Life mein reserach yourself and then you won't need others to affirm or even doubt something. But to develop such thing you need to do hard work of reading enough material and right material which can't be found on youtube.

Account sirf inhi youtubers ke block hotey hai because inko pata nahi hai ki savings account koi business account nahi hai. It is only for savings purpose. They do too much txns, do txns at those areas online/offline which gets their account flagged. They think they can do txn at whatever merchant and then expect banks dont block their account.

Kisi ne kaha hai jaake har jagah muh maar ke dekho. Ab jab saanp ke bil mein haath daal liya hai toh dasega hi, welcome drink thodi dega woh.


Baki you seems to have some sense, so stop worrying and stop watching nonsense. Learn in life and have no wife.
 
I opened a basic savings account with utkarsh small finance bank online.
I was trying to add the above new account as beneficiary from my icici. While verifying the beneficiary name it asked to update from records. Voila it added an extra space between first and last name. At first I thought it as some error. I tried again, same result. Went ahead and tried 1 rs imps. Worked
Thought some glitch and tried adding same beneficiary from my hdfc and guess what same extra space.
So my records in Utkarsh Bank has an extra space, Why would they do it? How did it happen. It automatically fetched my details from adhar. I'm really bullish about correcting thus before parking large funds.
Did anyone experience similar?
Even among most SBI account holders I know — including myself and my family — there tends to be an extra space between the first and last names. Our accounts were opened at different SBI branches at different points of time, so it seems to be a quirk of how their Core Banking System (CBS) is set up. It doesn't necessarily mean that they have a space between your first and last names in their database.

Also, in contrast, with ICICI Bank, for example, if you have a joint account, the name is typically displayed as "<Primary Holder's Full Name> Jt1."

You’d also notice that during beneficiary account verification, some banks include a prefix like "Mr/Ms/Mrs" before the name, while others don’t.

It’s not a major issue though, and can be safely ignored, as NEFT, IMPS, and RTGS transactions don’t actually validate the beneficiary’s name during processing. If it were a junk character or a mix-up between the first and last names, that would have been more concerning.
 
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