Procedure to convert any joint account to single account in case of first depositor expired in DOP Finacle

• Generally in DOP a joint account will have two depositors i.e., either it can be of joint A or Joint B type account. 
• In order to know the mode of operation for any type of account users can check in HACCDET or modification after verification menu in DOP Finacle application.
• We can convert the joint account to single account and vice versa depending on the requirement of the customer.

Business Scenario :- 

• For example if the first depositor expired in a joint account then we have to follow the below mentioned procedure.
• Note that for any conversion we have to take the revised AOF(account opening)  form along with the requirement documents from the customer before proceeding for conversion of joint account to single in DOP Finacle application.

Step by step Procedure to convert joint account to single account when the first depositor expires :-

• In order to convert the joint account to single account when the first depositor expires we have to follow below mentioned steps they are :- 

Step 1 :-  Merge the CIF id for the joint account with second depositor 

• First note down the CIF ids of both the customers by using the inquire option in modification after verification menu for the joint account.
• In the counter PA invoke the menu HCCA then the system will show the below screen as shown in the below figure

• In the next step select the function as modify and enter the account number and click on Go as shown in the below figure

• When we click on Go then the system will show the below screen as shown and enter new cif id as second depositor cif id and select the reason code as D from the list as shown in the below figure

• Then finally click on submit then the system will display the cif modified successfully and verify the same using the menu HCCA in the supervisor login.

Step 2 : -  Change the mode of operation for the joint account in modification after verification menu 

• Invoke the menu modification after verification menu for the respective scheme and then select the function as modify, change the mode of operation from 017 or 018 to 012 (self or single) and delete the related party 2 details finally submit and verify as shown in the figure

• Finally click on submit and verify the same in the supervisor login

Step 3 :- Make the first depositor as deceased ans suspend the first depositor

• In the counter PA invoke the menu CMRC, select the function as modify and select the customer status as deceased by entering the date of death of the customer and finally submit the transaction
• Verify the same in the supervisor login and finally check the status of the account using the menu HACCDET it should be changed to mode of operation 012 (self or single account)

Important Point to Remember :- 

• In case of SCSS account with joint holder, if first depositor expires and also if the second depositor is below 60 then when we follow above procedure system will give the error "age out of allowed range" in this case we have to correct manually in passbook by collecting the necessary documents from the customer.
• As per POSB norms even if the second depositor is below 60 yrs also he/she can continue the account in case of first depositor expires.
• Hence follow the manual procedure for this case by following the POSB norms.