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Withdrawal Process for Post Office Savings Account

This guide outlines the steps for counter operations related to withdrawal transactions for Post Office Savings Accounts, including examining passbooks, verifying balances and signatures, making entries in records, and sending documents for further processing. Role of Assistant Postmaster/Sub Postmaster in the process is detailed.

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Withdrawal Process for Post Office Savings Account

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  1. COUNTER OPERATION WITHDRAWAL Examine passbook & Withdrawal Form( SB-7). Verify balance & signature & sign below the signature of depositor Make entry in records viz. passbook etc. Make entry in warrant portion of SB-7 . Send the documents to Assistant/Sub postmaster After receipt of pay order by APM/SPM obtain acquaintance of depositor in SB-7 Effect the payment & return passbook to depositor. RULE NO : 33 POSB Manual Volume -I

  2. COUNTER OPERATIONSB WITHDRAWAL Role of APM/SPM :- • Check the entry in record. • Verify the signature if amount exceeds Rs. 5000/-. • Sign the documents produced by counter PA • Authorize the transaction • Transfer the records to counter PA RULE NO : 33 POSB Manual Volume -I

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