For the purpose of the services received by the people, the population of the Country may be looked at from three different angles. These are present customers, potential customers, and the general public. A bank provides services to all these three categories of people. Present customers may be considered as direct customers and potential customers and the general public as indirect customers.
Direct Customers Indirect Customers
There is no statutory definition of a customer. Considering different views to be a customer the requirements are
a) An offer by a person to open some sort of account whether savings or current or fixed deposit account.
b) Banker’s willingness to accept such an offer ultimately resulting in the opening of an account.
Thus, it is clear to us that the different sections of people might take the services of a bank but all of them are not customers in the true sense of the term.
There are people who sometimes take services provided by banks but presently they are not customers. In the course of time, they may become customers of a bank.
This group consists of people who are neither customers nor potential customers but they may take the services of a bank on some occasions.
While thinking of customer services these three types of people should be taken into consideration by the bankers.
The service that can be rendered to its customer lies within the function of a modern Bank, Nowadays a Bank renders the following functions to her clients:
i) Receipt of deposit from the public under Current, Saving and Fixed deposit account as a safe custodian.
ii) Granting Loam/Advance to the public for business as well as for other purposes.
iii) Remittance facility by issuing draft T.T., P.O., M.T., etc.
iv) Issuance of Letter of Credit on behalf of the importer to facilitate imports into the country.
v) Discounting Bills, Promissory notes.
In addition to the above, sometimes a Banker is to provide the following special services to her customer
i) Buying and selling of securities including foreign currencies.
ii) Periodical payment of insurance premium, telephone, electric and WASA bills, T.V. license fees and remitting institutional fees as per standing instruction.
iii) Collecting proceeds of cheque, interest, and dividend on security.
iv) Receiving in safe custody valuables and securities under the locker system.
v) Acting as Executor and trustees.
Sometimes Bank acts as an Adviser to her customer in connection with export, import, and other financial matters. He introduces a new seller and buyer to her clients. In fact, Bank can become an honorary financial partner of his/her customer.
On inquiry from the customer it revealed that customers desire to have the following facilities :
i) Prompt service (ii) Entertainment (iii) Easy Credit facilities (iv) Courtesy (v) Helping them in writing deposit slip, cheque & other correspondences.