Legal Question in Banking Law in Pakistan
A joint account of husband and wife is maintained at a bank's branch with the mandate / instructions that any one can operate the account along with instruction Either or Survivor. Recently husband divorced his wife and asked the bank to cancel/delete name of his Ex-wife as signatory of the account. Can bank follow instruction of husband in not allowing Ex-wife of account holder to operate the account? How should bank proceed in this case?
1 Answer from Attorneys
Kindly see joint account opening and operating rules of your bank... Bank cannot delete the wife's name from the account if the rules do not allow that or if the rules are silent.. Better way is to advice the husband to release all funds and open a new account on his name.. This account will turn dormant automatically as both spouses will stop using it.. For more do consult me at [email protected]
Regards,
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