https://www.taxtmi.com/article/detailed?id=12095 Banks currently lack standard procedures and software to process transposition of names in joint accounts because systems are aligned to the first-named holder. The author proposes adding a transposition authorisation clause to account opening forms and permitting banks to require a signed indemnity from joint applicants to protect the bank from losses, claims and liabilities arising from honouring transposition requests, and calls for regulatory direction to standardise the process. en-us Tue, 05 Dec 2023 10:10:13 +0530 Tue, 05 Dec 2023 10:10:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=12095 Banks currently lack standard procedures and software to process transposition of names in joint accounts because systems are aligned to the first-named holder. The author proposes adding a transposition authorisation clause to account opening forms and permitting banks to require a signed indemnity from joint applicants to protect the bank from losses, claims and liabilities arising from honouring transposition requests, and calls for regulatory direction to standardise the process. Articles Other Topics Tue, 05 Dec 2023 10:10:13 +0530 https://www.taxtmi.com/article/detailed?id=12095