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FD in joint name with wife can she withdraw without my amount
02-Jul-2023 (In Banking / Finance Law)
I had fixed deposit in joint name of my spouce. We had given E&S option at the time of depositing of money. My spouce before maturity of FD, visited the bank and got released the FD(cancelled) with single signatures. Can I claim the money from bank as FD has been cancelled before maturity without informing to me. If I cannot claim money from bank, then do I have any option to recover money from my spouse ? Bank Manager is also involved personally in this transaction. I did make complaint against same before ombudsman but they rejected my case. Do I have option to take some civil action ?
You had Joint FD account under either or survivor type of account, under such type of account both the account holder can access the account and transfer the funds individually. Therefore your wife had the right to cancel the FD and withdraw funds from the account. You cannot take any action against the bank.
If you wish to recover the amount from your wife then you can file a civil recovery suit against your wife.
If you wish to recover the amount from your wife then you can file a civil recovery suit against your wife.
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Adv. Siddhant Sharma
Delhi | 200+ Answers
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