Procedure of Account Opening:

Account Opening (Normal Account):
▫ Collect an Account opening form from the Bank.
▫ Fill all the requirements of the form.
▫ Nominee is must be specified.
▫ Photograph is most important for any account.
▫ The account holder sign of his/her own self in front or the specific bank principle Officer in the account opening form.

Account Opening (Saving Account):
▫ Collect an Account opening form from the Bank.
▫ Fill all the requirements of the form.
▫ Nominee is must be specified.
▫ Photograph is most important for any account.
▫ The account holder sign of his/her own self in front or the specific bank principle Officer in the account opening form.
▫ To open this account the most important things is that Passport Photocopy or the Word Commissioner Certificate must have to add with the account opening form.

Account Opening (Current Deposit Account):
▫ Collect an Account opening form from the Bank.
▫ Fill all the requirements of the form.
▫ Nominee is must be specified.
▫ Photograph is most important for any account.
▫ To open this account the most important things is that Passport Photocopy or the Word Commissioner Certificate must have to add with the account opening form and also enclose the form 12 with the account opening form.

Checklist of Documents to be obtained for various types of ACCOUNTS:

 Sole Proprietorship:
1. Signature Card.
2. Photograph of signatories attested by introducer.
3. Copy of valid Trade License.
4. TIN Certificate.
5. 18-A permission from Bangladesh Bank (for GSA & Agents only).

 Partnership:
1. Signature Card.
2. Photography of signatories attested by introducer.
3. Partnership Deed.
4. Partners letter of authority to open account and authorization for operation.
5. Copy of valid Trade License.
6. 18-A permission from Bangladesh Bank (for GSA & Agents only).

 Limited Liability Company:
1.   Signature Card.
2. Photograph of signatories attested by introducer.
3. Copy of Memorandum and Articles of Association (Certified by RJSC).
4. Copy of Certificate of Incorporation and commencement of business (In case of public Ltd. Co.).
5. Copy of Board Resolution to open the account and authorization for operation.
6. List of Directors and signatories along with addresses.
7. Latest copy of From XII.

 Association/Trust/Society:
1. Signature Card.
2. Photograph of signatories attested by introducer.
3. Copy of Resolution of governing body to open the account and authorization for operation.
4. Copy of consolation / bylaws/ rules.
5. Certificate of registration.
6. List of authorized signatories and members of the governing bodies along with address.
7. Trust Deed (for Trust account only).

Interest Posting to Client’s account:

 Bangladesh Government has circulated that, 10% deduction from the Bank’s Internal Account’s. This 10% tax deduction from the client’s interest.

 Other wise another circulation is that, from the OBC collection every bank cut off there OBC commission as income account, here Bangladesh Bank said that 15% money cut off from the OBC collection as Vat on Others.

Cheque Book Issues:

Types of Cheque Book’s:
▫ Savings Account – 10 Leaves
▫ Current Deposit Account – 10 Leaves
▫ Current Deposit Account – 25 Leaves (CDTF)
▫ Current Deposit Account – 50 Leaves (CDF)
 NB: CDTF: Current Deposit Twenty Five
 CDF: Current Deposit Fifty

Cheque Issuing is Two Types:

 Direct requisition slip
 Cheque Book’s requisition slip

Customers Service Officer receives these types of slip from the client’s and gives the cheque books under processing. Processing means Cheque Book’s collect from the VOLT and the put account number in the cheque book, write down the serial number of the cheque book in the requisition slip and cheque book register, then Verified client signature. After all this things the Principal officer sign in the cheque leaves and sent the cheque book to another Principal officer for sign, after his sign the client receive the cheque book. These things the Principal Officer for sign, after his sign the client receive the cheque book. Then Principal Officer posting that cheque books leaves number in the computer data processing system.

A cover file containing the requisition slip is effectively preserved as vouchers. If any defect is noticed by the ledger keeper, he makes a remark to that effect on the requisition slip and forward it to the cancellation officer to decide whether a new checkbook to be issued to the customer or not.

Account Closing:

For two reasons, one can be closed. One is by banker and other is by the customer.

By banker: If any customer doesn’t maintain any transaction within six years and the A/C balance becomes lower than the minimum balance, banker has the right to close an A/C.

By customer: If the customer wants to close his A/C, he writes an application to the manager urging him to close his A/C.

Different procedures are followed in cash of different types of A/C to close:

 Fixed deposit A/C is closed after the termination of the period.
 Brick by Brick A/C is very easily closing if one of the clients didn’t pay his/her monthly installment at the bank three months one after one, in this way three months.
 Another account’s will be closed on the parties advice, if they want to close any one of the account clients must have to submit an A/C closing letter through des pass. Then the Sr. Principal Officer checks it out and closes the A/C.

Closing process for current & savings A/C:

 After receiving customer’s application the officer verifies the balance of the A/C.
 He then calculates interest and other charges accumulated on the A/C.
 If it bears a credit balance, the officer writes advice voucher. He gives necessary accounting entries post to accounts section.
 The balance is returned to the customer. And lastly the A/C is closed.

But in practice, normally the customers don’t close A/C willingly. At times, customers don’t maintain any transaction for long time. Is this situation at first, the A/C becomes dormant and ultimately it is closed by the bank.