FAQs about the Nomination Facility
• Deposit Accounts and Safe Deposit Lockers
• Depository Accounts

Deposit Accounts and Safe Deposit Lockers

Q1. What is Nomination?
Nomination is a facility that enables a deposit account holder(s) (individual or sole proprietor) or safe deposit locker holder(s) to nominate an individual, who can claim the proceeds of the deposit account(s) or contents of the safe deposit locker(s), post the demise of the original depositor(s) or locker holder(s).

Q2. What is the benefit of nomination?
The benefit of nomination is that in the event of death of an account holder(s) or locker holder(s), the Bank can release the account proceeds or contents of the locker to the nominee(s) without insisting upon a Succession Certificate, Letter of Administration or Court Order. The nominee holds the monies in the capacity of a Trustee on behalf of the legal heirs of the deceased account holder(s) or locker holder(s) and the Bank's liability is duly discharged on payment to the Nominee.

Q3. Who can nominate?

• Bank account holders having deposit accounts in their individual names or in joint names of two or more individuals can appoint a nominee to their accounts.
• A sole proprietor can appoint a nominee to the sole proprietorship account with the bank.
• In the case of a deposit account in the name of a minor, nomination shall be made by a person lawfully entitled to act on behalf of the minor in respect of a deposit account.
• Safe deposit locker holder(s) can appoint nominee(s) on their Safe deposit locker(s).
• A nomination can be made only in respect of a deposit account which is held in the individual capacity of the depositor, and not in any representative capacity such as the holder of an office like Director of a Company, Secretary of an Association, partner of a firm, or Karta of an HUF.

Q4. How can I register a nomination?
Specific nomination forms need to be completed and submitted to the Bank for registering the nomination facility. Different forms are applicable to register nominations on deposit accounts and safe deposit lockers. The Bank will acknowledge receipt of the nomination form and send a confirmation of having recorded the same. This confirmation must be kept securely either with the deposit account holder or with the nominee, if the account holder so wishes.

Q5. How can I get a nomination form?
Deposit Account: Please click here to download the nomination form or visit our website www.hsbc.co.in.
You can also avail of a nomination form from the nearest branch of The Hong Kong and Shanghai Banking Corporation Limited, (HSBC). Please click here for the details of our branches. The completed form can be posted or personally handed over to the Bank, in any of our HSBC branches.

Safe Deposit Locker: Nomination forms for safe deposit lockers are available at any of our branches that offer safe deposit locker facilities to customers. The specific branches are mentioned below. Please click here for the full address of the branch nearest to you.

Q6. What are the basic guidelines to be followed while completing a nomination form?

• The account holder(s) need(s) to complete the forms in duplicate, signed by all the account holders.
• Both copies of the nomination form must bear the account holders' signatures in original.
• The number of each account for which nomination is being made must be specifically mentioned in the nomination forms.
• If a minor is being nominated on the account, complete details of the guardian should be furnished.

Q7. Is the nomination required to be witnessed?
Yes, any nomination registration, cancellation or change has to be witnessed. The witness needs to furnish his details on the form and sign as having witnessed the nomination. In case a thumb impression is affixed on the nomination form (instead of a signature) the same needs to be witnessed by two witnesses, one of which has to be a bank official and the other an external person (known to the customer)

Q8. Whom can I nominate?
Deposit Accounts: As per the prevailing Banking Companies (Nomination) Rules, there can be only one nominee per account. However different accounts can be nominated in favour of different individuals.

Safe Deposit Lockers: A safe deposit locker held by a sole hirer can be nominated in favour of one individual only. However a safe deposit locker that is held in joint names and operated jointly by any two or more locker holders, can be nominated in favour of more than one individual.

Q9. Can I nominate a minor?
Yes, nomination favouring the minor is permitted on the condition that the account/ locker holder, while making the nomination, appoints another individual (who is not a minor) to receive the monies in the account/ contents of the locker on behalf of the minor. In the event of the death of the account/ locker holder(s), while the nominee is still a minor, the individual who is appointed to receive the monies/contents will receive the proceeds of the deposit/ contents of the locker claimed on behalf of the minor nominee.

Q10. I have a joint account / locker held in joint names, how can we nominate?
If there is more than one account/ locker holder, then the nomination form must be signed by all account / locker holders. A copy of the nomination form will be held in the Bank's records and the other copy will be dispatched to the account/ locker holders/ guardians notified in the Bank's records. However in case of joint accounts, the nominee's right arises only after the death of all the depositors.

Q11. Can I cancel or change the nomination which was made earlier?
Cancellation or variation in the nomination can be made at any time as long as the account/ locker is in force. While making nomination, cancellation or variation, rules applicable to the witness need to be followed. Moreover, if the account/ locker is held in more than one name, all account/ locker holders must sign on all the requisite forms. Separate prescribed forms are applicable for cancellation and/ or variation, which are available at our respective branches.

Q12. I have multiple accounts, can I nominate different individuals on each account?
Yes, as mentioned earlier, different individuals can be nominated on different account/ lockers held by the same account/ locker holders. However separate nomination forms need to be completed for each nominee. Nominations for multiple accounts having the same nominee may be recorded on one form provided each account number is specifically mentioned on the form.

Q13.Can I make a blanket nomination (or leave a standing instruction) with the Bank to automatically record a nomination for future deposit accounts proposed to be opened under an existing customer record?
No, as mentioned earlier, each nomination made has to be witnessed (with the date) and each account number must be mentioned on the nomination form. Hence, it is not possible to make a nomination for future accounts, deposits that might be opened under a particular customer record.

Q14. How can a nominee claim the funds in the account/ contents of the locker?
Deposit Accounts: The nominee can approach the Bank with the complete set of documents required. However the basic documentation requirements include –

• Claim Form (Covering letter from the nominee advising the Bank that he is the nominee and his preferred method) of receiving the funds claimed. Eg. Cashier order, Demand draft, EFT, etc. Please note that the proceeds of the nominated accounts will not be paid in cash. A format is available with the Bank.)
• Death certificate issued by municipal authorities/government department. The Photocopy should be sighted as original by the Bank officer.
• Proof of Address & Photo ID of the Legal heirs/ Survivor/ Nominee (as required by the Bank)
• Customer Copy of Nomination, if any

Safe Deposit Lockers: The nominee can approach the Bank with the complete set of documents required. However the basic documentation requirements include –

• Claim Form (Covering letter from the nominee advising the Bank that he is the nominee - format available by the Bank)
• Death certificate issued by municipal authorities/government department. The Photocopy should be sighted as original by the Bank officer.
• Proof of Address & Photo ID of the Legal heirs/ Survivor/Nominee (as required by the Bank)
• Customer Copy of Nomination, if any
• Inventory Form (Format available with the Bank)

Q15. Will the nomination facility guarantee the transfer of funds to the nominee?
If the nomination is not contested and subject to complete submission of documents as per the Bank's requirements, the nominee can claim the funds in the deposit accounts that he has been nominated on. However, in case of any contest or dispute, or another claimant approaching the Bank with any legal documentation, the court decision will be binding on the Bank.

Q16. Is it mandatory to nominate a new account that I am opening with the Bank?
Yes, regulatory guidelines stipulate that each new account/ locker needs to be nominated. However if an account/ locker holder does not wish to register a nomination on his account/ locker, the customer needs to explain the reasons for not registering a nomination to the Bank in writing. This letter will need to be signed by all the account/ locker holders. In case the customer refuses to provide the explanation, the Bank needs to annotate the account opening/ locker forms accordingly.

In case you need any more information, we request you to please approach your nearest HSBC branch.

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Depository Accounts

Q1. What is Nomination?
Nomination is a facility that enables a depository account holder to nominate an individual, who can claim the securities held in a Demat account, post the demise of the depository account holder(s). For a jointly held demat account, in case of death of any of the joint holder(s), the securities will be transmitted to the surviving holder(s). Only in the event of death of all the joint holders, the securities will be transmitted to the nominee.

Q2. What is the benefit of nomination?
The benefit of nomination is that in the event of death of an account holder(s), the Depository Participant (DP) can transmit the securities held to the nominee(s) without insisting upon a Succession Certificate, Letter of Administration or Court Order. The nominee has to submit a duly filled-in transmission form, notarised copy of death certificate and an affidavit in the prescribed format to the DP. After verifying these documents and if found to be in order, the DP will transmit the securities to the account of the nominee.

Q3. Who can nominate?

• Depository account holders having accounts in their individual names or in joint names of two or more individuals can appoint a nominee to their accounts.
• In the case of a Depository account in the name of a minor operated under guardian nomination shall not be recorded.
• A nomination can be made only in respect of a Depository account which is held in the individual capacity under the following Client Types and Sub-Types.

• Non-individuals including society, trust, body corporate, partnership firm, Karta of Hindu Undivided Family, holder of power of attorney cannot nominate.

Q4. How can I register a nomination?
Nomination forms (Annexure JA) needs to be completed and submitted to the Depository Participant (DP) for registering the nomination facility. The Bank will acknowledge receipt of the nomination form and send a confirmation of having recorded the same along with the NRN generated.

Q5. How can I get a nomination form?
Nomination forms for depository accounts (Annexure JA under NSDL guidelines) are available at any of our HSBC branches. Please click here for the address of the branch nearest to you.

Q6. Whom can I nominate?
There can be only one nominee per account. However different accounts can be nominated in favour of different individuals.

Q7. Can I nominate a minor?
Yes, nomination favouring the minor is permitted on the condition that the account holder, while making the nomination, appoints another individual as a guardian other than the holders in the account. In the event of the death of the account holder/s, while the nominee is still a minor, a Depository Account has to be opened in the name of the nominee under guardian as per the nomination details for transmission of securities.

Q8. I have a joint account held in joint names, how can we nominate?
If there is more than one account holder then the nomination form must be signed by all account holders. A communication / notification will be dispatched to the account holder. However in case of joint account, where in only one holder expires then the securities will be transmitted to the surviving holder based on the request received from the surviving holders. Nomination's in joint A/c's stands effective only on death of all the holders.

Q9. What are the basic guidelines to be followed while completing a nomination form?

• The form need/s to be complete and duly signed by all the account holders.
• The Client ID & DP ID number of each account that is being nominated must be specifically mentioned in the nomination forms.
• The nominee also has to sign the nomination form and affix his/ her photograph that is signed by the nominee. Where the nominee is a minor, the form will need to be signed by the guardian and a signed photograph of the guardian along with that of the nominee is affixed on the nomination form.
• If a minor is being nominated on the account, minor's Date of Birth (DOB) is mandatory along with complete details of the guardian with necessary signatures of the guardian appointed.
• Two independent witnesses need to be recorded on the Annexure JA.

Q10. Is the nomination required to be witnessed?
Yes, any nomination registration, cancellation or change has to be witnessed. The witness needs to furnish his details on the form and sign as having witnessed the nomination.

Q11. Can I cancel or change the nomination which was made earlier?
Cancellation or variation in the nomination can be made at any time as long as the account is in force. While making nomination, cancellation or variation, rules applicable to the witness need to be followed. Moreover, if the account is held in more than one name, all account/ locker holders must sign on all the requisite forms. Annexure JA can be used for cancellation of nomination's as well.

Q12. I have multiple accounts, can I nominate different individuals on each account?
Yes, as mentioned earlier, different individuals can be nominated on different accounts held by the same account holders. However separate nomination forms need to be completed for each Account.

Q13. Can I make a blanket nomination (or leave a standing instruction) with the Bank to automatically record a nomination for Depository accounts proposed to be opened under an existing customer record?
No, as mentioned earlier, each nomination made has to be witnessed (with the date) and each depository account number must be mentioned on the nomination form (Annexure JA). Hence, it is not possible to make a nomination for future accounts, that might be opened under a particular customer record.

Q14. How can a nominee claim the securities in the account?
In the event of death of the account holder, the nominee should contact the branch where the demat account is held, and he will be guided accordingly.

Q15. Will the nomination facility guarantee the transfer of securities to the nominee?
On submission of complete documents as per Depository requirements, the nominee can claim the securities in the accounts that he has been nominated for.

Q16. Is it mandatory to nominate a new Depository account that I am opening with the Bank?
Depository account opened on NSDL via its depository participant has to carry a nomination.
In case a nomination is not provided, then the client has to select the option / provide a declaration stating that "I/ We do not wish to make a nomination".

Q17. What would happen if no nomination is made for the account?
In case nomination is not made by the sole account holder, the securities would be transmitted to the account of legal heir(s), as may be determined by an order of the competent court. However in cases where the value of securities to be transmitted is less than Rs. 1,00,000/- the DP may process the request based on submission of necessary letter of indemnity, surety, affidavits and NOC documents.

In case you need any more information, we request you to please approach your servicing Branch locally.

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