Skip to main content

7 Steps To Open Bank Account

How to Open Bank Account?
7 Steps To Open Bank Account
PROCEDURE TO OPEN BANK ACCOUNT

There are several steps are required to open a bank account but the procedure of opening an account is quite simple and easy as discussed below.

SELECT A TYPE OF BANK ACCOUNT: When a client wants to open a bank account, first he selects the type of bank account according to his preference because in modern age a commercial bank provides the facility to open the different kinds of bank account, considering the need of all groups in the society. Savings account serves the purpose of saving; current account is used for settling business transactions.

APPLICATION & ENCLOSURES PROCESS: The bank manager will provide the client an application form for getting such information as: name, father name, address, profession, amount to be deposited, introducer`s date, date & signature, etc. Along with the application form, a photocopy of the identity card of the account holder must be attached. For identification purpose, the bank may also ask to enclose a photograph.

REFERENCE CARD: Along with the application form the bank also gives a blank reference card, which requires two signatures of the account holder as a specimen to be kept at the bank. When a cheque is presented at the bank, it matches the signature on the cheque will the one on the reference card.

REFERENCES: At the time of opening an account the bank requires one or two referees who are already account holders of the same bank. The referee will sign the name and write his account number in the columns provided in the application form. This reference ensures the bank`s confidence in the new account holder.

ALLOTMENT OF ACCOUNT NUMBER: After thorough scrutiny of the application form, the bank will allot an account number through which all deposits and withdrawals will be carried out.

RECEIVE PAY-IN-SLIP: At this stage the bank provides pay-in-slip to the account holder to use it for deposit the money. The stub, a smaller part of the slip, duly signed and stamped by the bank, will be given back to the depositor as a proof of deposit. In short, the pay-in-slip is used to deposit the money.


RECEIVE CHEQUE BOOK: Now the bank supplies a cheque book that contains up to 25 leaves for savings account and 25 or more for current account. Fixed deposit account doesn`t carry cheque books because it is a non-cheque account.

Comments

Popular posts from this blog

Free Download Notes XI & XII Commerce Notes & Book In Pdf

Free Download Notes XI & 1st Year Notes Download In Pdf XI Accounting Book  Economics Notes Pdf Free Download Urdu Notes for 1st Year (Class 11)  Another Urdu Notes For XI  Islamiat For XI  Principle Of Commerce 1st year XI POC Notes (Best) Server 01 XI POC ( Principle of Commerce ) Guess Paper Solved 2021 Free Download Notes  XII Commerce Notes & Book In Pdf XII Accounts Book With Solutions 2nd-year Urdu Notes Free Download Pdf XII English Notes Pdf 2nd Year English Notes Adam jee  2nd Year Commercial Geography  2nd Year Pak Studies Notes XII Pak Studies Notes In English Adam Jee XII Pak Studies Solved Paper XII Banking Notes (Shah Commerce) Another 2nd Year Banking Notes XII  CG Solved Papers Commerce Online Notes By Sir sultan hamid hussain (All credit goes to Sir Sultan) Server 01 Commercial Geography Notes In English By Sir Sultan Server 01 Commercial Geography Notes Notes In Urdu By Sir Sultan Server 01 XII Banking Notes Short Q

Questions And Answers The Count’s Revenge By J.H.Walsh

THE COUNT’S REVENGE (J.H.WALSH) Q: 1 What Arab custom is referred in the short play “The Count’s Revenge”? An Arab custom mentioned by the Countess of Morcerf to Albert and the Count of Morcerf when the count of Monte Cristo leaves their house without eating anything. The custom runs as “Never to eat food at the house of a deadly enemy”. She strongly believes that since the Count of Monte Cristo has a faith in that custom and thinks them to be his enemy, and hence not eat anything at their place.   Q: 2 What do you know about the reaction, plans or intention of Albert? Albert, the brave young son of the count of Morcerf, was deeply shocked by the disgrace of his father and family. As a man of honour, he showed severe emotional reaction to the unhappy incident. Albert made his mind to trace about the unknown enemy of his family and avenge the family honour. On his request, Beauchamp, a close friend of Albert, discovered the name of the enemy. It was Albert;s

English Essay Problems of Karachi

Problems of Karachi Karachi is the biggest city in Pakistan and one of the most thickly populated cities in the world. Its population has increased rapidly and accordingly has given rise to many social problems. People of this metropolis are becoming more and more concerned about solving these serious problems, some of which are discussed below. The ever-increasing rush of heavy traffic on the roads is resulting in heavy loss of human life. One day or the other, people suffer from accidents due to reckless driving. Some lose their vehicles and some go to the police. This is due to lack of civic sense in the citizens and violation of traffic rules. Traffic jams, road quarrels, untidiness and damage of public property are also the results of this problem. The government has not done any planning to control this situation in the past two decades. In the same manner, the government has never emphasized upon population distribution. As a result, slum areas are rapidly being built, wher

Short Questions Answers of The Prisoner of Zenda ~Drama Novel Prisoner of Zenda

 N OVEL Question 1)Tell in your own words how the first meeting came off between the two distant cousins? Answer) Rudolf leaves the inn one day as he is given an opportunity to stay at Jahan’s sister at Strelsau. Instead of going, he decides to walk through the forest and have a look at the castle of Zenda. He sits down in the forest to have some rest as well as smoke a cigar. After smoking his cigar, he unintentionally falls asleep. Shouts and sound of laughter wake him up. On opening his eyes, he sees two men standing near him. They are Fritz Von Tarlenheim and Colonel Sapt. They tell him that he looks exactly like their king except that he has a beard. At that moment King Rudolf appears. Rassendyll greatly surprises to see king Rudolf in the forest of Zenda. He gives a cry when he finds that Rudolf is just like him. Rudolf’s face and appearance are quite like his own. Rudolf’s height appears to be slightly less than his. Rassendyll bows respectfully before the king. In a happy m