Professional Documents
Culture Documents
Bankers Quotient
Recap of Negotiable
Instruments
Promissory Note
Bills of exchange
Cheques
Characteristics and features of NI
Endorsements
Crossings
Material alterations and Payment of cheque
Protection to paying & collecting Banker
List activities
that you
have seen
have heard
@ branches
Stop Payment
Customer can stop payment of a cheque ( single or
multiple)
Written request specify account number, cheque
number and reason for stopping the payment
Verification of signature
Check whether it is already paid
If not, then accept & stop payment
Acknowledgement to customer
Requests
Transfer of account
Within city or within country
Open a/c where desired and
transfer money & close old
account OR direct transfer which is
done by bank
Customer gets new account
number and new cheque book
Process differs from bank to bank
Requests
Addition of name Or deletion of name
Reconfiguration after death or one or more
holders
Specific requests
Requests
Requests
Closure of account
At customers request
At Banks instance
List
Some Special events
which happen
@ home
Issue passbook/statements
Issue checkbook/cards
Dormant account
Suspicious situations
Large amounts Transactions
Transactions not making economic
sense
Inconsistent with customers stated
business
Avoidance of reporting
Unusual activities
Customer refusing or providing
insufficient information
Bank employees account
Reca
p of
AML
Other operations
Dormant accounts
No operations customer induced 24 months
treated as dormant
No operation without customers fresh mandate
allowed
Protection to banks & customers
Fraud
Anti money laundering purpose
Pass cheques post confirmation with customers ( oral or
written depending upon banks)
Garnishee Orders
Recap Order nisi and order absolute
Banker customer relationship suspended
Directs bank to stop payment out of this account
On receipt recover any dues and then freeze the
remaining amount
Customer informed of receipt of order
Banks reply provided to court and post that order
absolute is issued
Bank needs to remit the frozen amount in entirety
Action to be taken
Customer to be informed about notice
Amounts due to be recovered
Available balance to be remitted to IT
department, customer again informed
If not done bank shall be deemed to be an
assessee in default and IT may take action
to recover it from Bank
Death of customer
Operations stopped cheques cannot be
honoured
If nomination is available Nominee to be
paid letter of Request and proof of
identity
If there is a will payment is to the legal
heirs letter of request, probated Will, proof
of identity
Intestate No will Successors letter of
request, succession certificate from court,
proof of identity
Death of customer
If the accounts are joint ERS or ANY or survivor
Paid to survivors
If it was Joint paid to survivor along with
successors of the deceased holder
Proprietory Account treated as a single account
Partnership Account partnership dissolved
unless deed states otherwise
Dissolved jointly paid to surviving partners
Not dissolved new firm constituted and balance
transferred
Death of customer
For entities companies, HUF,
Trust etc
THANK YOU