Can the name under the Bank Account be different from Account holder

Yes, you can edit your information in almost all instances without needing Apple's help.

Worst case, if you are locked out for more than a long weekend, open a ticket with Developer Support and you should have help to clear up your issues.

As mentioned on iTunes Connect:

To setup a new bank account on iTunes Connect, take the following steps:

1. Access the Contracts, Tax and Banking module
2. Click on either the "Set Up" or “View/Edit” link in the Bank Info column
3. Click on the "Add Bank Account" link
4. Select your bank country and click "Next"
5. Enter the relevant bank code (local clearing or Swift code) or look up your bank, and click "Next"
6. Confirm your bank selection and click "Next"
7. Enter your bank account information and click "Next"
8. Review the confirmation screen, select the check box at the bottom of the screen to certify your information, and click "Save"
9. On returning to the bank account selection screen, select your new bank account from the drop down list, and click "Save"