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BS Rangi (President)     27 May 2021

Joint account in bank two or three persons


We about 10 members of loose organisation ,not registered are involved in social activities which involves accepting donations and dishing out such money to beneficiaries .Banks say we have to get it registered . One banker said 12 persons can open a savings account ,which will be a sort of way out JUGAR but not correct solution.  Any suggestions please without getting it registered.


 6 Replies

kavksatyanarayana (subregistrar/supdt.(retired))     27 May 2021

At least 7 Executive Members are required for the formation of a welfare Association under the Societies Registration Act.  Bylaws in prescribed proforma shall be prepared. Consult the District/Deputy Registrar of Societies of your District.

SIVARAMAPRASAD KAPPAGANTU (Retired Manager)     28 May 2021

If you wish to work as a Trust or Society involved in collecting donations and utilizing the same for social work, you need to register as Trust or Society. If you inform the bank that yours is an unregistered Society or Trust they will not allow you to open an account unless registration is there. If you do not wish to register, then 4 members of your group together can open a joint account and maintain the account as a Joint account with operation condition either Jointly or severally or by one of the 4.


It is advisable to get the organization registered appropriately.

G.L.N. Prasad (Retired employee.)     28 May 2021

It all depends on internal arrangements.   To circumvent the stipulation, present members can permit one-two to three members to open and operation at a specific branch for the association.  There is no mention of capacity in such savings bank account and the checkbook must be in the custody of a responsible person and cheques should be signed by at least two persons.  It is always proper to select two or three sincere and well-to-do members to operate the account.

EX: An association from members A to Z were members of registered associations.   The savings account can be opened in the name of A, B, C in individual names with operations instructions any two signatures are sufficient.  There is no mention of any association or organization name in the opening form.

Sankaranarayanan (Advocate)     28 May 2021

i do sailing with experts reply

1 Like

T. Kalaiselvan, Advocate (Advocate)     28 May 2021

You can form a trust or a welfare association as per law and get it registered so that you can open a bank on the name of the association.

A single savings bank account in the name of 12 different individuals may not be practically feasible.


Dr J C Vashista (Advocate)     29 May 2021

I endorse the opinion and advise of experts.

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