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New Banking Laws Allow Multiple Nominees for Accounts & Lockers
The Banking Laws (Amendment) Act, 2025, allows multiple nominees for bank accounts and lockers, easing family inheritance issues. This landmark change, effective from November 1, 2025, addresses the long-standing single-nominee limit, providing families with greater flexibility in managing their assets. Understanding these new regulations can help ensure smoother transitions of wealth among children.
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"Finally, a banking update that feels like a family reunion!"
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