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How to open a bank account

January 16, 2013  by: Munts  Points: 8   Category: Others  Earning $0.10   Views: 866

In this age, banks are the most important financial institute. Here I am giving the procedure regarding opening a bank account.

         



Banks are the most important economical institute in this modern age. Many of us don’t know the procedure to open a bank account. Here is the procedure:

1. Decide the type of bank account you want to open. There are several types of bank account such as saving account, recurring account, fixed deposit account, current account etc.



2. Approach any bank of choice and meet its bank officer. The bank officer will provide a proposal form to open a bank account.

3. Fill up bank account opening form. Necessary details regarding name, address, occupation etc should be filled in whenever required. If the account is opened in joint names, then the form must be signed jointly. Submit copies of latest photographs.

4. Give reference for opening your bank account. The reference or introduction is required to safe guard the interest of the bank.

5. Submit bank account opening form and other documents. Also certified copy of articles and memorandum of association must be produced.

6. Officer will verify your bank account opening form. He checks whether the form is complete in all respects or not. If the officer is satisfied, then he clears the proposal form.



7. Deposit initial amount on newly deposit bank account. After depositing the initial money, the bank provides a pass book, a cheque book and a pay in slip book in case of saving account. In the case of fixed deposit, a fixed deposit receipt is issued.

Thus, one can open a bank account.




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