General Banking & Accounts Department - Mutual Trust Bank Ltd

TRANSFER

Transfer is not a critical sector in banking but it is very important. Transfers play a vital role in banking sector. So now we have to know what transfer is: basically transfer is a type of register maintaining matter. In this register officer write down every day transactions in Debit and Credit side then the officer calculate both the side of the register if both side shown same amount, it means that the total day’s transaction is completely okay.

CLEARING

Clearing is one of the magical parts of banking. I really enjoyed this part of the accounts department and banking sector. In Mutual Trust Bank Limited clearing in charges Mr. Md. Jahir Ahmed (Officer), I did work with him. I went Bangladesh Bank lot’s of time with Mr. Md. Jahir Ahmed.

What is Clearing House?
In Bangladesh Bank, there is a very large room, which contains fifty (50) or more tables for each bank that is called the clearing house.

Nature of clearing house:
 1st Clearing House
  Return Clearing House

Clearing House Process:

Every bank has an officer of clearinghouse who is work with Bangladesh Bank clearing house. Acutally most of major client deposit their account in different kinds of bank cheques. Clearing officer check all the cheques and deposit slip very carefully and then he received the cheque. After that the clearing officer posting all the cheques in computer software which is recognized through Bankgladesh bank computer department. Then clearing officer seal all the cheques in advance date after that the officer endorsement all the cheques and sign all the cheques. All the cheques are posted in the computer by branch wise, then officer print the entire document and staple all the cheques by branch wise this is called schedule of clearing house. It is a very difficult job to staple all the cheques, because some time’s the cheques are huge in quantity, it may be 250 to 400, this is very vital job because every cheque must have to staple very carefully, it means cheque amount and the print sheet amount and cheque branch must have to be same. If the cheques staple in wrong direction, the cheque may be return from another bank, that’s why MTBL not to be able to credited party account.

Then the clearinghouse officer copying all the document in two floppy dist as per Bangladesh Bank requirement. When the clearing officers enter the clearinghouse, his first job is that the floppy dlivered to the Bangladesh Bank computer department.

All of the procedure the clearing in charge goes to the Bangladesh Bank clearing house before 10 am in the morning. The clearing officer check all the bank’s cheque and he put all the cheques in bank wise, like as this another bank’s delivered there cheques in MTBL desk. Then the officers of MTBL have to calculate all the cheques by using calculator machine, Staple pin remover, and then he divided all the cheques as MTBL Branch wise.

Types of Clearing Cheque:

MTBL Dilkusha Branch performs the bill clearing function through Bangladesh Bank. MTBL Dilkusha Branch acts as the agent of all MTBL branches for the clearing house of the Bangladesh Bank. There are two types of cheque which are-

1. Inward clearing cheque
2. Outward clearing cheque.

INWARD CHEQUES:

Inward cheques are those ones drawn the respective branch which have been presented on other banks and will be cleared / honored through the clearing house of Bangladesh Bank. Then the cheque is called inward cheque of MTBL Dilkusha Branch.

Accounting treatment:
          Customer’s A/C Debit.
          MTBL General A/c credit.

OUTWARD CHEQUES :
Outward cheques are those ones drawn on other bank branches which are presented on the concerned branch for collection through clearing house of Bangladesh Bank. These cheques are called outward clearing cheques.

RECOGNIZED BANK’S AS THE MEMBER OF BANGLADESH BANK CLEARING HOUSE WITH THEIR CLEARINGHOUSE CODE: