Saturday, August 22, 2009

HOW TO OPEN A BANK ACCOUNT, SMART ZOMBI'S.




STEPS TO OPEN ACCOUNT:


The procedure of opening an account with the bank is quite simple and easy as discussed below.


SELECTION OF BANK &; TYPE OF ACCOUNT:

Having made up mind to open a bank account the prospective account holder will select a bank and its branch on the type of account to open. He will choose one from among saving, current or
fixed deposit accounts. Savings account serves the purpose of saving, current account is used for selling business transaction, and fixed deposit is meant for earning regular income.


APPLICATION BLANK:

The bank manager will provide the client an application form to fill in the blanks for getting such information as:

Name, father's name, address, profession, amount to be deposited, introducer's data, date, and signature. After receiving the filled-up form, the bank will scrutinize it and allocate an account number.


REFERENCE CARD:

Along with the application blank, 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 with the one on the reference card. This practice offers safety to the bank and the account holder as well. The card also provides a space for account holder's special instruction.

REFERENCE:

At the time of opening an account the bank requires one or two reference who are already account holder of the same bank. The reference will sign the name and write his account in the columns provided in the application blank. This reference ensures the bank's confidence in the new account holder.

ALLOTMENT OF ACCOUNT NUMBER:

After thorough security of the application form, the bank will allot an account number through which all deposits and withdrawals will be carried out.


PROVISION OF PAY-IN-SLIP:

At this stage account has been opened. Now the bank will supply a pay-in-slip to the account holder who will use it to deposit the money.


MAKING DEPOSIT:

After having the bank account number allotted and received the pay-in-slip the account holder will fill in the blanks of the slip and deposit the money at the cash


SUPPLY OF A CHEQUE BOOK:

After the first deposit is made, 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 non checking account.

EXCISE DUTY:

Cheque book is supplied after account holder has paid excise duty imposed by the GOVT on cheques. This duty is paid either in cash or is deducted from the balance of the account.


ENCLOSURES:

Along with the application blank a photocopy of the identity card of the account holder should be attached. For identification purpose the bank ma ask to enclose a photograph also.


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