Type of Bank Customers
Content
TYPE OF BANK CUSTOMERS
INTRODUCTION
y Who is a customer? y A banker deals with different type of customers like
individuals, partnership firms, companies, co-operative societies etc.
TYPES OF CUSTOMERS
y Minor accounts
Account should be operated by the guardian on behalf of the minor. No overdraft is allowed in these accounts. y Rules of operation
JOINT ACCOUNT HOLDERS
y A account opened by two or more persons. y Instructions for operating the account may be any one of the
following: 1. Either or survivor 2. Both jointly 3. Former or survivor Rules for claim of account
HINDU UNDIVIDED FAMILY (HUF)
y In HUF the business is inheritable. y Karta of the family and co-parceners y Rules for operations
PARTNERSHIP ACCOUNT
y Relationship subsisting between persons who have agreed to
share the profits of a business.
y Rules for opening the firms account
ACCOUNTS OF LIMITED COMPANY
y Public Ltd.: It has to have a minimum of 7 members and a
maximum of unlimited members, with a minimum paid up capital of Rs. 5 lakh y Private Ltd. : It has to have a minimum of 2 members and maximum of 50. paid up capital of 1 lakh y Government companies: 51% of the shares are held by the government
y Rules for opening the account
TRUSTS
y A trust is a obligation annexed to the ownership of a
property, arising out of confidence reposed in and accepted by the person for the benefit of another. The person who declares confidence is called the author of the trust y The instrument by which trust is created is called trust deed
y Rules for operating the account
CO-OPERATIVE SOCIETIES
y Rules and bye laws are to be examined to ascertain if there
are any restrictions on opening of a bank account with the commercial banks. y Some states have restrictions as to opening a bank account other than with the co-operative banks, without permission from the Registrar of Co-operative Societies and within certain conditions. y Resolution to open a bank account with the signatures of three persons, viz., president/secretary/treasurer out of these three, signatures of the president and one of the others are essential.
GOVERNMENT AND PUBLIC BODIES
y Receipts y Payments y Opening of personal deposit account by Government
Departments
CONCLUSION
INTRODUCTION
y Who is a customer? y A banker deals with different type of customers like
individuals, partnership firms, companies, co-operative societies etc.
TYPES OF CUSTOMERS
y Minor accounts
Account should be operated by the guardian on behalf of the minor. No overdraft is allowed in these accounts. y Rules of operation
JOINT ACCOUNT HOLDERS
y A account opened by two or more persons. y Instructions for operating the account may be any one of the
following: 1. Either or survivor 2. Both jointly 3. Former or survivor Rules for claim of account
HINDU UNDIVIDED FAMILY (HUF)
y In HUF the business is inheritable. y Karta of the family and co-parceners y Rules for operations
PARTNERSHIP ACCOUNT
y Relationship subsisting between persons who have agreed to
share the profits of a business.
y Rules for opening the firms account
ACCOUNTS OF LIMITED COMPANY
y Public Ltd.: It has to have a minimum of 7 members and a
maximum of unlimited members, with a minimum paid up capital of Rs. 5 lakh y Private Ltd. : It has to have a minimum of 2 members and maximum of 50. paid up capital of 1 lakh y Government companies: 51% of the shares are held by the government
y Rules for opening the account
TRUSTS
y A trust is a obligation annexed to the ownership of a
property, arising out of confidence reposed in and accepted by the person for the benefit of another. The person who declares confidence is called the author of the trust y The instrument by which trust is created is called trust deed
y Rules for operating the account
CO-OPERATIVE SOCIETIES
y Rules and bye laws are to be examined to ascertain if there
are any restrictions on opening of a bank account with the commercial banks. y Some states have restrictions as to opening a bank account other than with the co-operative banks, without permission from the Registrar of Co-operative Societies and within certain conditions. y Resolution to open a bank account with the signatures of three persons, viz., president/secretary/treasurer out of these three, signatures of the president and one of the others are essential.
GOVERNMENT AND PUBLIC BODIES
y Receipts y Payments y Opening of personal deposit account by Government
Departments
CONCLUSION
