Person to person transfer of certificates in DOP Finacle

Person to person transfer of certificates in DOP Finacle

• In DOP we can transfer the certificates (NSC and KVP) from one person to another person.
• As per the SB order 05/2014 point numbers (xi) and (xii) we can transfer the certificates both KVP and NSC from one person to another person in DOP Finacle.
• Certificates can be transferred only once from date of issue to date of maturity.
• At the time of transfer of certificates from one person to another, old certificates will not be discharged, Name of the holder shall be rounded and name of the new holder shall be written on the old certificate and purchase application(in case of non CBS post offices) under dated signatures of the authorized postmaster with his designation stamp and date stamp of post office.
• Generally in DOP we will transfer the certificates from one person to another person when invester is offering the certificates as gift or in case of deceased depositor(investor) and the nominee willing to continue the certificates.
• The procedure for transferring the certificates from one person to another person is mentioned below

1. In DOP Finacle CIF is to be created for the new customers.(Use menu CCRC)
2. Before creating a new CIF, a de-dupe check has to be made for checking about the existence of the customer.(use the menu CDEDUP)
3. New CIF is to be created to the new customer whose name is going to be added or in whose name certifcates are going to be transferred.
4. New CIF is to be attached with the existing accounts created against certificates.This is required to be done for each certificate.( use the menu HCCA i.e., merging the CIF).
5. On the physical certificate, name of the old certicate has to be rounded and name of the new customer to be added uner dated signature of Supervisor.
6. In case of Single to Joint, name of the new customer is to be added on the existing certificates.

Procedure to attach the CIF for the existing accounts against certificates

• In order to attach the CIF for the existing accounts use the menu HCCA
• HCCA stands for Change CIF Id ofA/c ( Merging the CIF id)
• Invoke the menu HCCA then the system will display the below screen

Then select the function as "Modify" as shown in the figure and enter the account number as shown in the figure

Then click on GO then the system will display the below mentioned screen and do the changes as mentioned below

In new CIF ID column system will show old CIF id remove it and enter new CIF ID

Select Modify A/c Name as "YES"

Select Reason code from the searcher as T(T-Transfer of certificates)  as shown

Then click on Submit and verify in the supervisor using the same menu HCCA.

Courtesy : http://pofinacleguide.blogspot.in/