How to transfer Sukanya Samriddhi Account from Post Office to Bank?
Yes, One can get SSY Account transferred to anywhere in India if one need to.
When Sukanya Samriddhi scheme started most banks were not opening the account as they were not aware or they did not have details. Most of parents got the SSY account opened in post office for this reason. In post office system they do not accept payment in another post office.
Example– If you opened SSY account in 2015 at Post Office A and then you shifted to another place and want to deposit this year investment in post office B. You can not do that as they will not accept it.
For this reason it is sometimes better to get your SSY account transferred to your bank as you can deposit the money in your Sukanya Samriddhi Account in any branch of the bank.
If you have a transferable job it is very difficult to maintain your account from that same post office every year. So it is advised to transfer your account to any of the bank listed in 28 banks list which can operate Sukanya Samriddhi Account.
You can transfer Sukanya Samriddhi Account from post office to bank by following the procedure discussed below:
Any of the parent or guardian who is operator of account will have to visit the Post office personally and surrender Sukanya Samriddhi Account passbook and submit Identity proof and residence proof there. You have to mention the executive that you need to transfer the account to the particular bank or post office and its reason in writing. For that write an application in the name of postmaster of that area.
The post office will close the account and will issue you the documents you need to submit in bank where you want to transfer your account.
With these documents now you will have to visit the bank and submit the documents received from post office along with Identity and address proofs. The bank will open the account with the current balance which the post office has confirmed.
The process is simple but it may take few days to complete and you may have to visit post office 2-3 times because they may not issue you documents instantly. They make take few days and ask you to come after few days.
To open the account in bank you may also have to visit them 2 times as they may also take time to open the account and provide you with passbook.
Note: Make sure every time you visit post office and bank always carry your identity and residence proofs so that the procedure goes smoothly.
PS: Check Changes in Sukanya Samriddhi Account Yojana 2017!