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WHY SHOULD YOU ADD A NOMINEE TO YOUR BANK ACCOUNT?

WHY SHOULD YOU ADD A NOMINEE TO YOUR BANK ACCOUNT?
WHY SHOULD YOU ADD A NOMINEE TO YOUR BANK ACCOUNT?


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In life, we plan for many things - our careers, health, and our family’s future. However, one thing that gets overlooked is how we ensure the financial security of our loved ones when we’re not around. Thankfully, Union Bank of India offers a simple yet crucial service: Account Nomination Facility for your bank account.

But what exactly is account nomination?

An account nomination is a facility provided by banks that allows you to appoint a nominee who will inherit the balance in your bank account upon your death. This nominee can be anyone you trust; usually, a close family member like a spouse, parent, or child.

Why Does Account Nomination Matter for Your Bank Account?

Without a nomination in place, your family may face challenges in accessing the funds in your bank account after your demise. There may be legal hurdles, delays, and potential disputes that could further complicate matters during an already difficult time.

Here’s why account nomination matters:

  • Ensures a Smooth Transfer of Assets: The nominated person can directly claim the funds without going through complex legal procedures.
  • Saves Time and Effort: Without the need for inheritance disputes, your nominee gets easy access to your account, reducing the burden on your loved ones.
  • Provides Peace of Mind: Knowing that your financial legacy is secure in the hands of someone you trust allows you to focus on living worry-free.

How to Set Up an Account Nomination with Union Bank of India-

Setting up an account nomination with Union Bank of India is simple and straightforward process. The process can be done either online or by visiting Union Bank of India branch, making it incredibly convenient for all account holders.

Here’s how you can set up your nomination facility online-

Through Net Banking-

  • Log in to Union Bank of India’s Internet Banking >> Navigate to the Dashboard >> select Accounts >> select Add Nominee Details >> Select account number >> Fill in the Nominee Details and submit.

E-nomination facility through Bank’s website-

Through union Ease-

  • Customer can update their nomination details through Bank’s mobile application union Ease, by visiting option services >> Manage nominee >> select account and then update Nominee.

WhatsApp Banking/ Union virtual connect-

  • Customer can update their nominee details through WhatsApp Banking (by sending Hi to 9666606060 ) using Auxiliary service >> nomination Details.

For those who prefer visiting a branch, the process is equally simple - just provide your nominee’s details to the bank officer (by submitting nomination form) and have it done on the spot.

Why Choose Union Bank of India for Your Nomination Facility?

Choosing Union Bank of India for your account nomination means selecting a bank that prioritizes your ease and security. The nomination facility is designed to offer you peace of mind with minimal effort. Whether you prefer the convenience of online banking or prefer to complete the process in person, Union Bank of India ensures a seamless experience.

Setting up an account nomination is an easy task that can make a huge difference in your family’s future. Don’t wait until it’s too late. Take advantage of the nomination facility offered by Union Bank of India and secure your bank account today.