Procedure of opening and maintaining of Joint,.pptx

Procedure of Banking Account, Maintenance Account, Running Account,

1. Procedure of opening and maintaining of Joint, special types of ACCOUNT(MINOR,ILLITERATE ),Club ETC

2. Presented BY: Mohammad Monwar Hossain DGM & Senior Faculty, Rupali Bank Training Academy

3. Bankers at account opening desk should know: Bank Company Act-1991 Company Act-1994 Contract Act-1872 Money Laundering Prevention Act-2012 Anti Terrorism Financing Act-2009 NI Act-1881 Bank Deposit Insurance Act-2000 BFIU Master Circular no.-26 AML & CFT related circulars

4. Bank Account A bank account refers to a bank through which the bank receives deposits from depositors and pays them out on demand or as per rules. Purposes of bank accounts: Safe storage of money To create a savings mindset Earning profit Formation of national savings Achieving thrift To avail loan facilities Clearing facilities Economic development etc Account is opened under contract act 1872

5. Joint Account When the account is opened in the name of two or more persons is called Joint Account. Essential Documents: 1.Account Opening form signed by all account holders 2. Signature card 3.Two copies passport size photo of all the parties 4.Photocopy of nominee attested by the account holder 5.Id of account holder and nominee. 6.S.F-4 Operation instruction of the account 1.By any joint account holders singly 2. By either or survivors singly (S.F-4) 3.By any two or more joint account holders or by any two or more survivors jointly. 4.By all the account holders jointly 5.By all the survivors jointly.

6. Instructions Death of any Party: According section no 45 of contract act, balance of the account distribute among the survival parties. 2.For Lunatic/ Insane: No One can operate until the order of Court 3.Cheque Book lost: All the parties should sign in indemnity form. 5.For account transfer: All parties should apply jointly. 6.Nominee: According Bank company Act-1991 One or more person can be nominated.

7. Minor Account Any guardian can operate the account opening in the name of minor or joint name. The guardian can’t withdraw money after the minor gets matured. Requirements: 1.Duly filled in AOF with date and signature by the guardian. 2.Photograph of guardian & minor. 3.Photograph of nominee attested by account holder. 4.NID of the guardian and birth certificate of the minor. 5.TIN if any.

8. Illiterate Person’s Account • AOF & signature card • Account is to be opened by thumb impression. • Savings and fixed deposit account should be opened. • As far as possible current account should not be opened. If necessary, current account may be opened for an illiterate person obtaining an indemnity. • All the activities must be done in front of the manager/sub-manager • Photograph of account holder, photograph of nominee , the indemnity letter & NID of account holder and nominee • Account should be introduced. •Withdrawal slip/ cheque should be affixed in presence of the manager/sub-manager.

9. Pardanshin Woman’s Account 1.AOF with date and signature. 2.Pasport size photograph of account holder. 3. Pasport size photograph of nominee attested by account holder. 4.Proper introduction is required which is acceptable to the bank. 5.Particulars of her husband. 6.Signature of the Pardanshin ladies should be obtained under competent authority. 7.NID . 8.TIN, if any.

10. Insolvent Account • An insolvent person has some incapacity. • An insolvent person can not do any contract. So insolvent person can not open an account • After opening an account one may become insolvent. • After receiving the information bank should stop transaction in the account. • Transaction should be made by Receiver or Assignee appointed by court.

11. Club/cooperative society/association • Resolution • Account Opening Form • Signature Card • Copy of By-Laws • List of the Members of Management Committee • Personal information of signatory/operator. • Registration certificate • Photograph & NID of account holder • Special instructions(if any) • S.F-2

12. School/College/Madrasa Account • Account Opening Form with signature and seal with designation of the account operators. • Passport size photographs of every member. •NID of account holder. • Certified copy of resolution of the managing committee regarding opening and conducting of bank account. • List of the Members of Managing Committee • In case of change any of authority fresh resolution must be obtained specimen signature duly attested by the out going person. • Personal information of signatory/operator. • By-laws of the institution

13. Trust Account Trustee is a person entrusted with the work of the management of a property under a trust created by the owner thereof for the benefit of another or of another and the owner. Requirements: Prior Head Office approval. Duly filled in AOF with signature and seal of the trust. Recent passport size photograph of every Trustee. Deed of trust. Complete identity of the members of the Trustee Board of the Institution. Resolution regarding opening of account. Certificate of Registration of societies. TIN, if any Special Instruction, if any.

14. Executor/ Administrator Account Executor: An Executor is a person appointed by an estator for execution of the last will left by him. Administrator: An Administrator is a person appointed under the authority of a court of competent jurisdiction where no will is left by the deceased appointing an executor. Requirements: Prior Head Office approval. Duly filled in AOF with signature and seal of the executor/administrator. Recent passport size photograph. NID. Letter of administration to be recorded. Operational instruction regarding account opening is required. No power of attorney is allowed for opening the account. No investment will be allowed against the properties of the account.

15. liquidator Account A liquidator is appointed for winding up the affairs of a company at the order of the court in case of compulsory liquidation or voluntary liquidation under supervision of court and as per resolution of the company in case of voluntary liquidation. Requirements: Prior Head office approval Duly filled in AOF with signature & seal of the liquidator. Resolution of the company about the appointment of liquidator. Appointment letter of liquidator by court. Account to be opened in the name of designation (not in the name of liquidator). Particulars of liquidator. After opening account, balance of the company will be transferred to the account of liquidator. Liquidator doesn’t have the authority to avail loan facilities.

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