Multiple choice

In a joint account in the name of X and Y, a request is received to substitute the name of X by Z. Later on, another request comes from Y and Z either to replace the name of Y with A or add the name of A. Which of the following is not correct?

  1. Request of X and Y can be accepted.

  2. Request of Y and Z to replace the name of Y with that of A can be accepted.

  3. Request of Y and Z to add the name of A can be accepted.

  4. While changing the name, it has to be ensured that at least one of the original account holders should continue in the account.
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

At least one of the original account holders needs to stay. Both can't be replaced.

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