Want to redeem mutual funds, but its asking for cheque for the bank account I have already closed ?

POSTED BY Sarav ON April 11, 2014 1:46 pm COMMENTS (2)

Hi Manish,

I purchased mutual fund 3 to 4 years back using CITI bank account. I closed this account 2 years back and i don’t have any details (apart from account number) pertain to that bank.

How do i redeem the amount with my new bank account? The redeemption document is asking for prev. bank cheque.

Regards,

 

2 replies on this article “Want to redeem mutual funds, but its asking for cheque for the bank account I have already closed ?”

  1. ashalanshu says:

    Dear Sarav, first of all update your new bank account with the respective AMC. Once account is updated in the system and confirmed to you, please apply for redemption.

    Thanks

    Ashal

  2. Viren Phansalkar says:

    As far as I know, every AMC has a declaration form saying that you closed your previous bank account details and you do not have old bank stuff. Use this form along with bank updation form. Change your bank details with current bank and then redeem.

    I did this with reliance (though I did not redeem 🙂 )

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