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Friday, January 3, 2014

What is Customer’s obligation ?


What is Customer’s obligation ?

a) Draw cheques within the balance available in the account or under previous arrangements with the bank.
b) Draw cheques in such a manner that reduces chances of fraudulent alterations.
c) Keep the cheque book carefully so that third parties may not have easy access to them.
d) Pay reasonable charges.
e) Make deposits only at the branch where the account is maintained if not otherwise allowed.
f) Make a formal demand for payment of deposit by issuing cheque or by any other approved manner.
g) Inform the banker about any fraudulent attempt of en-cashment of his cheque.

Customer’s rights on banker:

 i) Deposit money and cheque etc. into his account.
ii) Issue a cheque on his account
iii) Transact within the banking hours
iv) Avail of any other services provided by the bankers.

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