General Banking
General Banking Department is considered as the direct customer service center. It is the starting point of all the banking operation. It opens new accounts, remits funds, honor chaque, takes deposits, issues bank draft and pay order etc. general Banking is also known as retail banking. Following are the major banking:
- Account opening section
- Clearing section
- Cash section
- Remittance
Account Opening
It is a customer service section. Here three employees of the bank are always ready to serve their customers. In this section people come to open different kinds of accounts, and schemes.. They are very friendly and cordial to their clients. Here the employees also issue new checkbooks, help customer to open various types of a/c, and help customers about various types of d deposit scheme etc. They also use computer for posting purposes below is list of who can open different types of account:
- Individual
- Sole proprietorship
- Partnership Firm
- Private/Public limited companies
- Clubs
- Societies
Necessities of Opening Bank Account
Safety preservations
- Creation of savings attitude
- Facilities of risk less income
- Formation of national capital
- Economic development
- Establishment of social securities
Types of Account
- Savings Accounts.
- Individual A/C
- Joint NC
- Non trading concern.
- Current Accounts
- Individual A/C
- Proprietorship A/C
- Partnership NC
- Limited Company NC
- Fixed Term Deposit (FDR)
- Short Term Deposit (STD)
- Special Savings Deposit Scheme (SSS)
- Special Deposit Scheme (SDS)
Saving Account
Savings account is meant for those who want to save a certain amount of their income and earn interest on that for future needs. All features are more or less like that of CD a/c except for some restriction that is imposed by the bank. Number of withdrawals over a period of time is limited. The withdrawing amount is not to exceed 25% of the total balance.
Current Account
Individuals, sole proprietorship firm, partnership firm, limited companies be it private or public, clubs, societies etc may open current deposits accounts. Current accounts are most suitable for all types of organizations since frequent withdrawals do not result in a penalty. There is no interest earned from current deposit account.