Hello
I have a question on PPF.
Back ground:
My father-in-law has opened a PPF account for my daughter and my wife as guardian in Post Office in 2006. While opening the PPF account he has mentioned my daughter’s name as D. XXXXX and my wife name as D.XXXX.
Now, I wanted to transfer the PPF to ICICI bank. Both my wife (SB Account) and my daughter (Kids SB account) has savings bank accounts with Full Names, ie., My wife’s name as Surname Lastname and my daughter’s name as Surname Middlename Fullname.
As far as I know while transferring, Post Office will send the cheque to ICICI with the balance amount and because of the name difference, Will there be any problems while transferring?
If it is a problem for transfer, Is there any other way to fix this issue? (like can I change both the names at Post office first then transfer?)
Your answers are greatly appreciated.
Thanks in advance
Srini