Procedure for opening a bank account

WHAT IS ACCOUNT?

An account is the individual record of an asset, a liability, a revenue an expense or capital in a summarized manner. It is also a report or description of an event or experience. The bank account is called as a contract between the Bank and the customer.

WHO CAN OPEN A BANK ACCOUNT?

An adult person or persons having a sound mind individually or jointly can open this account. Legal Guardian or parents can also open this account in the name of minor.

TYPES/ NATURE OF ACCOUNTS

Individual Account
Joint Account
Proprietorship Firm Account
Partnership Firm Account
Limited Company Account
Co-operative Society/ Samity Account
Minor Account
Illiterate Account
PEPs Account
Non-residential Bangladeshi and Foreign National Account.
Pardansheen Women Account
Blind Man Account
Organizational Account
NGO/ Club or Association Account
Executor/ Administrator/ Liquidator Account
Educational/ Religious Institutional Account
Mobile Banking Account
Internet Banking Account
Wall-in Customer account
Accounts of Banks/ Govt. Officials/ Military Funds Account

REQUIRED FORMALITIES FOR OPENING A NEW ACCOUNT

• Application for opening Account (account opening form)
• Required papers/documents of the related Accounts
• Information regarding minors
• Information of the Introducer
• Information of Nominee
• Initial deposit & sources of Fund
• Modern Banking Facility
• Customer Information Form(CIF)
• Specimen Signature Card
• Transaction profile of the customer(TP)
• KYC Profile Form
• Applicable Rules:
1. Conditions
2. Operational rules for Accounts
REQUIRED PAPERS/DOCUMENTS FOR OPENING ACCOUNTS

For Resident Customers:

• AOF to be filled in and signed by each applicant
• 02(two)copies of passport size recent photograph attested by the introducer for each applicant
• Copy of NID Card/Valid Passport/Driving License or any other photo paste ID Card
• Introduction by any Savings or Current Account holder of the Bank(who been maintaining regular account for at least 6 months)
• Nominee’s details & 1(one)copy of passport size photograph for each nominee to be attested by the applicant
• In case of minor Account ,photocopy of the Birth Certificate and recent passport size photograph duly attested by the
guardian
• Copy of recently utility bill (Gas, Electricity, WASA, Telephone) as a proof for Mailing Address
• Photocopy of Passport ,valid VISA & Work permit for foreign citizen
• Photocopy of up-to-date TIN Certificate
• A pardanshin woman ,if educated ,has to be introduced by the client known to the Bank and if illiterate has to submit face exposed photograph and keep her face open at the time of transaction
• In case of minor account, the application to be signed by its operator
For Non- Resident Customer:

• Account opening form to be filled in and signed by each applicant
• Nominee’s details & 1(one)copy of passport size photograph for each nominee to be attested by the applicant
• 02(two)copies of passport size recent photograph attested by the introducer for each applicant
• Proof of employment /income (employment certificate/pay slip/employment contract mentioning annual income/Bank statement mentioning monthly salary or latest income tax return)
• Copy of recently utility bill (Gas, Electricity, WASA, Telephone) as a proof for Mailing address
• Copy of passport along with valid VISA/Work permit be enclosed(in case of foreign passport ,the page sealed with “no VISA is requires for Bangladesh” to be attached)

SL	Particulars	Policy	Procedure
1	Individual Account	Any individual competent to make a contract may open an account in his own name with the bank by submitting the account opening form duly completed including selection of nominee.	i.AOF duly filled in and signed by the applicant. ii.02(two)copies of passport size recent photograph attested by the introducer for each applicant. iii. Copy of NID Card/Valid Passport/Driving License or any other photo paste ID Card. iv.Introduction by any Savings or Current Account holder of the Bank(who been maintaining regular account for at least 6 months). v. Nominee’s details & 1(one)copy of passport size photograph & NID for each nominee to be attested by the applicant. vi.Copy of recently utility bill(Gas,Electricity,WASA,Telephone) as a proof for Mailing Address. vii.Phocopy of Passport ,valid VISA & Work permit for foreign citizen. viii.Photocopy of up-to-date TIN Certificate and ix.Confirm compliance of AML &CFT laws by taking KYC,TP,verifying documents,confirm source of income and risk grading of clients.

SL	Particulars	Policy	Procedure
2	Joint Account	Joint account to be opened after getting clear and specific instruction regarding nominee,operation of the account and payment of the balance to the survivors or surviving members in the event of the death of one or more joint account holders.	i.AOF duly filled in and signed by the each applicant. ii.02(two)copies of passport size recent photograph attested by the introducer for each applicant. iii.Copy of NID Card/Valid Passport/Driving License or any other photo paste ID Card. iv.Introduction by any Savings or Current Account holder of the Bank(who been maintaining the regular account for at least 6 months). v. Nominee’s details & 1(one)copy of passport size photograph for each nominee to be attested by the applicant. vi.Copy of recent utility bill(Gas, Electricity, WASA, Telephone) as a proof for Mailing Address. vii. Photocopy of Passport, valid VISA & Work permit for a foreign citizen. viii.Photocopy of up-to-date TIN Certificate andix. List of the operators of the account. x. KYC,TP,Photograph & identifying document for each individual. xi.Confirmation of source fund and risk grading. xii. In the event of any of the joint account holders becoming bankrupt, insolvent or lunatic, all the operation in the joint account shall be stoped. xiii. No invt.shall be made in a joint account unless it is operated on jointly by all the parties. xiv.All other AML & CFT and prevention of PF regulations to be complied with.

SL	Particulars	Policy	Procedure
3	Proprietorship Firm.	Following usual practices, Bank can open this type of account.	i.AOF duly filled in and signed by the applicant. ii.02(two)copies of passport size recent photograph attested by the introducer for each applicant. iii. Copy of NID Card/Valid Passport/Driving License or any other photo paste ID Card. iv.Introduction by any Savings or Current Account holder of the Bank(who been maintaining the regular account for at least 6 months). v. Nominee’s details & 1(one)copy of passport size photograph for each nominee to be attested by the applicant. vi.Copy of recent utility bill(Gas, Electricity, WASA, Telephone) as a proof for Mailing Address. vii.Photocopy of Passport, valid VISA & Work permit for a foreign citizen. viii.Photocopy of up-to-date TIN Certificate and ix. Confirm obtaining of trade license, KYC, TP, Risk Grading, attested photograph and document for the identity of the proprietor. x. Seal of the firm

SL	Particulars	Policy	Procedure
4	Partnership Firm.	Following usual practices Bank can open this type of account.	i.AOF duly filled in and signed by the applicant. ii.02(two)copies of passport size recent photograph attested by the introducer for each applicant. iii. Copy of NID Card/Valid Passport/Driving License or any other photo paste ID Card. iv.Introduction by any Savings or Current Account holder of the Bank(who been maintaining the regular account for at least 6 months). v. Nominee’s details & 1(one)copy of passport size photograph for each nominee to be attested by the applicant. vi.Copy of recent utility bill(Gas, Electricity, WASA, Telephone) as a proof for Mailing Address. vii.Photocopy of Passport, valid VISA & Work permit for a foreign citizen. viii.Photocopy of up-to-date TIN Certificate and ix. Confirm obtaining of registered Partnership Deed, x. Screening of sanctions list. xi. Trade license, xii.photograph and identifying documents of each individual partner, KYC&TP for each partner,risk grading and apply EDDfor high risk clients.

SL	Particulars	Policy	Procedure
5	Limited company. a)Private limited Company	Following usual practices, Bank can open this type of account.	i.AOF duly filled in and signed by each signatory director as per board resolutions. ii.02(two)copies of passport size recent photograph attested by the introducer for each applicant. iii.Copy of NID Card/Valid Passport/Driving License or any other photo paste ID Card. iv.Introduction by any Current Account holder of the Bank(who been maintaining the regular account for at least 6 months). v. Nominee’s details & 1(one)copy of passport size photograph for each nominee to be attested by the applicant. vi.Copy of recent utility bill(Gas, Electricity,WASA, Telephone) as a proof for Mailing Address. vii.Photocopy of Passport, valid VISA & Work permit for a foreign citizen. viii.Photocopy of up-to-date TIN Certificate of each director. ix. Confirm obtaining of a certificate of incorporation, x. Memorandum and Articles of association. xi. Board resoluation of the company for opening account mentioning Bank and Branch xii. Photograph & Identifying documents of each individual director and kYC & TP., risk grading and apply EDD for high-risk clients.

Particulars

Policy

Procedure

b)Public Limited Company

Following usual practices, Bank can open this type of account.

i.a)Request letter for openning the account on letter Head pad.

b)AOF duly filled in and signed by each signatory director as per board regulations.. ii.02(two)copies of passport size recent photograph attested by the introducer for each applicant.
iii.Copy of NID Card/Valid Passport/Driving License or any other photo paste ID Card.
iv.Introduction by any Current Account holder of the Bank(who been maintaining the regular account for at least 6 months).
v. Nominee’s details & 1(one)copy of passport size photograph for each nominee to be attested by the applicant.
vi. Copy of recent utility bill(Gas, Electricity, WASA, Telephone) as a proof for Mailing Address.
vii.Photocopy of Passport, valid VISA & Work permit for a foreign citizen.
viii.Photocopy of up-to-date TIN/VAT Certificate of each director.
ix.a)Confirm obtaining of a certificate of incorporation,
b)Certificate of commencement.
x.Memorandum and Articles of association.
xi.Board resoluation of the company for opening account mentioning Bank and Branch xii.Photograph & Identifying documents of each individual director and kYC & TP.,risk grading and apply EDDfor high-risk clients.
xiii.a)Form-XII/XVII(attested by R.J.S.C) b)Up to date audited balance sheet.
xiv.Seal of the company.

SL	Particulars	Policy	Procedure
6	Co-operative Society/Samity.	Following usual practices, Bank can open this type of account.	i.a)Request letter for openning the account on letter Head pad. b)AOF duly filled in and signed by each signatory director as per board regulations.. ii.02(two)copies of passport size recent photograph attested by the introducer for each applicant. iii. Copy of NID Card/Valid Passport/Driving License or any other photo paste ID Card. iv.Introduction by any Current Account holder of the Bank(who been maintaining the regular account for at least 6 months). v.Nominee’s details & 1(one)copy of passport size photograph for each nominee to be attested by the applicant. vi. Copy of recent utility bill(Gas, Electricity, WASA,Telephone) as a proof for Mailing Address. vii. Bylaws certified by Thana co -operative officer. viii.Copy of the approval letter. ix.Bio-data of all office bearers, x.Resolution of meeting. xi. Photograph, KYC,TP and identifying document of individual operator and xii. Sanction screening, risk grading and apply EDD for high risk clients.

SL	Particulars	Policy	Procedure
7	Trust/waqf organization.	Following usual practices, Bank can open this type of account.	i.a)Request letter for openning the account on letter Head pad. b)AOF duly filled in and signed by each signatory director as per board resulations. ii.02(two)copies of passport size recent photograph attested by the introducer for each applicant. iii. Copy of NID Card/Valid Passport/Driving License or any other photo paste ID Card. iv.Introduction by any Current Account holder of the Bank(who been maintaining the regular account for at least 6 months). v.Nominee’s details & 1(one)copy of passport size photograph for each nominee to be attested by the applicant. vi. Copy of recent utility bill(Gas, Electricity, WASA, Telephone) as a proof for Mailing Address. vii. Confirm obtaining of the certified copy of Trust deed, viii.Resolution of the trustee, ix. Bio-data of all operators, x. Photograph, KYC,TP and identifying document of individual operator. xi.Seal of the Trust/Waqf organization.

SL	Particulars	Policy	Procedure
8	Minor	Legal Guardian on behalf of a minor can open the account.	i.AOF duly filled in and signed by the legal guardian, ii.02(two)copies of passport size recent photograph attested by the introducer for each applicant. iii. Copy of NID Card/Valid Passport/Driving License or any other photo paste ID Card. iv.Introduction by any savings or Current Account holder of the Bank(who been maintaining the regular account for at least 6 months). v. Nominee’s details & 1(one)copy of passport size photograph for each nominee to be attested by the applicant. vi. Copy of recent utility bill(Gas,Electricity, WASA, Telephone) as a proof for Mailing Address. vii.KYC to be obtained for both, source of income and their relationship to be confirmed. viii. The physical presence of Guardian is required for withdrawal of money. ix. Risk grading and apply EDD for high-risk clients.

SL	Particulars	Policy	Procedure
9	Illitarate person	Illitarate persons can open an account with any bank following the norms in practice.	i.AOF duly filled in and signed by the applicant. ii.02(two)copies of passport size recent photograph attested by the introducer for each applicant. iii.Copy of NID Card/Valid Passport/Driving License or any other photo paste ID Card. iv.Introduction by any Current Account holder of the Bank(who been maintaining regular account for at least 6 months). v.Nominee’s details & 1(one)copy of passport size photograph for each nominee to be attested by the applicant. vi.Copy of recent utility bill(Gas, Electricity, WASA, Telephone) as a proof for Mailing Address. vii.KYC to be obtained for illitarate person but Physical presence is required for withdrawal of money. viii.Sanction screening, obtain TP and apply EDD for high risk clients.

SL	Particulars	Policy	Procedure
10	PEPs(Politically Exposed Persons):	PEPs can open accounts complying Bank’s Circular but prior approval to be taken from Head Office.	i.AOF duly filled in and signed by the applicant. ii.02(two)copies of passport size recent photograph attested by the introducer for each applicant. iii. Copy of NID Card/Valid Passport/Driving License or any other photo paste ID Card. iv. Introduction by any Current Account holder of the Bank(who been maintaining regular account for at least 6 months). v. Nominee’s details & 1(one)copy of passport size photograph for each nominee to be attested by the applicant. vi.Copy of recently utility bill(Gas, Electricity, WASA, Telephone) as a proof for Mailing Address. vii.KYC to be obtained considering high risk component, extra due diligence to be given. viii.In case of operation F.Ex regulation Act-1947 & Guidance for Foeign Exchange Transaction to be followed along with ensuring FATCA Compliance ix.CAMLCO’s approval is required to open a PEP’s account.

SL	Particulars	Policy	Procedure
11	None Residential Bangladeshi and foreign National.	None Residential Bangladeshi and foreign citizen can open the account as per usual norms & practice.	i.AOF duly filled in and signed by applicant. ii.02(two)copies of passport size recent photograph attested by the introducer for each applicant. iii. Copy of NID Card/Valid Passport/Driving License or any other photo paste ID Card. iv.Introduction by any Current Account holder of the Bank(who been maintaining the regular account for at least 6 months). v.Nominee’s details & 1(one)copy of passport size photograph for each nominee to be attested by the applicant. vi.Copy of recent utility bill(Gas, Electricity,WASA, Telephone) as a proof for Mailing Address. vii. Confirm obtaining of KYC, TP, source of fund and risk grading. viii.Foreign Exchange Regulation Act-1947 & Guideline for Foreign exchangeb Transaction to be followed meticulously. ix.Ensure FATCA Compliance.

SL	Particulars	Policy	Procedure
12	Pardansheen Women.	Pardansheen Women can open an account as per usual norms & practices.	i.AOF duly filled in and signed by the applicant. ii.02(two)copies of passport size recent photograph attested by the introducer for each applicant. iii. Copy of NID Card/Valid Passport/Driving License or any other photo paste ID Card. iv.Introduction by any Current Account holder of the Bank(who been maintaining the regular account for at least 6 months). v.Nominee’s details & 1(one)copy of passport size photograph for each nominee to be attested by the applicant. vi.Copy of recent utility bill(Gas, Electricity, WASA, Telephone) as a proof for Mailing Address. vii.The physical presence of such women is required at the time of opening the account. viii. Her photograph is to be attested by a responsible officer and confirm her genuiness of identification. ix.Ensure sanction sreening, conduct risk grading and apply EDD for high-risk clients.

SL	Particulars	Policy	Procedure
13	Blind man.	Blind Man can open account as per usual norms & practices.	i.AOF duly filled in and signed by applicant. ii.02(two)copies of passport size recent photograph attested by the introducer for each applicant. iii.Copy of NID Card/Valid Passport/Driving License or any other photo paste ID Card. iv.Introduction by any Current Account holder of the Bank(who been maintaining regular account for at least 6 months). v.Nominee’s details & 1(one)copy of passport size photograph for each nominee to be attested by the applicant. vi.Copy of recent utility bill(Gas, Electricity, WASA, Telephone) as a proof for Mailing Address. vii.KYC to be obtained for such a client along with his assistant. viii. Physical presence is required at the time of money withdrawal. ix.Apply all other AML, CFT and PF prevention regulations.

SL	Particulars	Policy	Procedure
14	Organizational Account.	Legally formed any ownership concern or farm can open account.	i.a)Request letter for openning the account on letter Head pad. b)AOF duly filled in and signed by applicant. ii.02(two)copies of passport size recent photograph attested by the introducer for each applicant. iii. Copy of NID Card/Valid Passport/Driving License or any other photo paste ID Card for each signatory. iv.Introduction by any Current Account holder of the Bank(who been maintaining regular account for at least 6 months). v.Nominee’s details & 1(one)copy of passport size photograph for each nominee to be attested by the applicant. vi. Copy of recent utility bill(Gas, Electricity, WASA, Telephone) as a proof for Mailing Address. vii. Registration or approval letter/license in favor of the establishment of a farm. viii.List of the operator of the account. ix.KYC, TP, Photograph & Identifying document for each individual. x.Confirmation of source of fund and risk grading and apply EDD for high-risk clients. xi.Confirm sanction screening.

SL	Particulars	Policy	Procedure
15	NGO/Club or Association.	Bank can open the account as per usual norms & practices.	i.a)Request letter for openning the account on letterHead pad. b)AOF duly filled in and signed by the applicant. ii.02(two)copies of passport size recent photograph attested by the introducer for each applicant. iii. Copy of NID Card/Valid Passport/Driving License or any other photo paste ID Card. iv.Introduction by any Current Account holder of the Bank(who been maintaining the regular account for at least 6 months). v.Nominee’s details & 1(one)copy of passport size photograph for each nominee to be attested by the applicant. vi. Copy of recent utility bill(Gas, Electricity,WASA, Telephone) as a proof for Mailing Address. vii. Extra due diligence for the organizational deal to be taken as regards the source of fund and their use. viii. Regular monitoring of their transaction to be done. ix. All other AML, CFT and PF prevention regulations to be complied with.

SL	Particulars	Policy	Procedure
16	Educational/ Religious Institutions.	Branches will open such accounts except UN sanction listed institutions or prohibited by Bangladesh Government.	i.a)Request letter for opening the account on letter Head pad. b)AOF duly filled in and signed by the applicant. ii.02(two)copies of passport size recent photograph attested by the introducer for each applicant. iii. Copy of NID Card/Valid Passport/Driving License or any other photo paste ID Card. iv.Introduction by any Current Account holder of the Bank(who been maintaining the regular account for at least 6 months). v.Nominee’s details & 1(one)copy of passport size photograph for each nominee to be attested by the applicant. vi. Copy of recent utility bill(Gas, Electricity,WASA, Telephone) as a proof for Mailing Address. vii. Branches must ensure getting full identification of the members of Governing Body or managing Committee, viii.Resolution for account opening, source of fund and destination/using of the fund, etc. ix. All other AML & CFT and preventions of regulations to be complied with.

SL	Particulars	Policy	Procedure
17	Mobile Banking(mCash).	The mobile Banking account will be opened & operated through bank ‘s panel agents.	i.a)Request letter for opening the account on letter Head pad. b)AOF duly filled in and signed by applicant. ii.02(two)copies of passport size recent photograph attested by the introducer for each applicant. iii. Copy of NID Card/Valid Passport/Driving License or any other photo paste ID Card. iv.Introduction by any Current Account holder of the Bank(who been maintaining regular account for at least 6 months). v.Nominee’s details & 1(one)copy of passport size photograph for each nominee to be attested by the applicant. vi. Copy of recently utility bill(Gas, Electricity, WASA, Telephone) as a proof for Mailing Address. vii. Specific terms and conditions are applicable for the KYC, TP(in agent’s account), viii. Photograph & Identifying documents shall be collected for each and every account holder.

SL	Particulars	Policy	Procedure
18	Internet Banking	The internet banking is a registration based service. No internet banking service will be provided without Bank transaction account. Through internet banking a customer will be entitled view accounts, Fund Transfer, iRecharhe, Wimax Recharge, Utility bill pay,Transaction summary etc.	i.To access in bank’s internet banking facilities, ii.a customer having personal internet access must register and set up some password for customer verification. iii.The customer will link to the customer number, controls,which may be cheque, saving, investment, credit card and other accounts. iv.To access internet banking, the customer would go to the bank,s website, v.Enter the internet banking facilities using the customer number password.

SL	Particulars	Policy	Procedure
19	Walk-in Customer	The customers who do not maintain an account with the bank is entitled to get some specific services by following KYC profile.	i.Branches should confirm to obtain satisfactory evidence of identification of applicans/ depositors/ withdrawal holders through short KYC cncluding name, address, mobile number, occupation, source of fund.

SL	Particulars	Policy	Procedure
20	On-line/non face -to – face customer.	On-line customer is one wish to conduct electronic banking via the internet or similar technology,the verification problem is made more difficult. In accepting business from on-line customers,bank should apply equally effective customer identification procedure.	i. Branches should confirm to obtain satisfactory evidence of identification of applicant/ depositors/ withdrawal holders through short KYC encluding name, address, mobile number, occupation, source of fund.

FOR SAFEGUARD THE INTEREST OF THE BANK THE UNDER NOTED POLICY MAY BE ALLOWED:

01 No account will be opened in anonymous or numbered or fictitious name(s).
02 No account will be opened through on line beyond the physical presence of a customer.
03 No account will be opened & operated in the name of persons/institutions included in the UN sanction list, OFAC sanction list, etc.
04 No account will be opened in the license less Bank/ Financial institution/money changer.
05 Account opening form, KYC profile and transaction profile forms should be properly filled up.
06 Documents formalities should be completed in favor of customer identification.
07 The branch will verify the genuineness of customers’ source of funds.
08 Branch will follow the rules of money Laundering Prevention ACT, 2012 & Anti-terrorism act, 2009 (along with the amendment of 2012 & 2013)
09 Not to open an account or close an existing account where the bank is unable to apply appropriate customer due to diligence measures.
10 Necessary precautions to be taken before opening a new account so as to ensure that the identity of the customer does not match which any person with a known criminal background or with banned entities such as individuals terrorists or terrorist organizations or involved in Money Laundering offense.
11 Branches/ offices should prepare a profile for each new customer based on risk categorization. The customer profile may contain information relating to customer’s identity, social/ financial status, nature of the business activity, information about his clients, business and their location, etc.
12 Confirmation/Verification of related data/information obtained:
12.1 The bank should verify the information by at least one of the following methods( in case of persons):
i Confirming the date of birth from official documents ( e.g. Birth certificate, passport, identity card, social security records)
ii Confirming the permanent address (e.g. Utility bill, tax assessment, bank statement, a letter from a public authority)
iii Contacting the customer by telephone, by letter or by email to confirm the information supplied after an account has been opened 9e.g. A disconnected phone, return mail, or incorrect email address should warrant further investigation)
12.2 The bank should verify the information by at least one of the following methods( in case of business entities):
i For established corporate entities -review of a copy of the latest one of the following methods(in case of business entities):
ii Conducting an inquiry by a business information service, or an undertaking from a reputed and known firm of lawyers or accountants confirming the documents submitted;
iii Undertaking a company search and/or other commercial inquiries to see that the institution has not been,or is not in the process of being, dissolved , stuck off , wound up or terminated;
iv Utilising an independent information verification process, such as by accessing public and private databases;
v Obtaining prior bank reference.
vi Visiting the corporate entry, where practical.
vii Contracting the corporate entity by telephone mail or email.

Account Opening is an important function of a Bank. The deposit of the bank is being mobilized/collected by the opening of various accounts. Deposit is the LIFEBLOOD of a bank. A major portion of the investable fund of a bank comes from the deposit. A bank earns an average 70-75% of its gross income by investing depositor’s money. Moreover, the size and place of banks are determined on the basis of the volume of their deposit. In this backdrop for survival and growth of a bank, the deposit has to mobilized by its employees.

Procedure for opening a bank account

Introductory References for opening an Account:

Bank account signifies the contractual relationship between the Customer and Bank.

Account must be opened with the approval of the Manager.
The account can be opened only when it satisfies that the applicant is respectable and good enough to be the customer of the Bank. ;
Proper introduction from a respectable person knows to the Bank. Preferably having a satisfactorily conducted account with the bank, must be verified.
The introducer of a Mudaraba Saving Bank A/C Holder should not ordinarily be accepted for opening Al-Wadeeah Current Account.
AOF & SS Card should be completed and signed in the presence of the Manager or an authorized officer of the Bank who will admit the same under his signature.
No checkbook should be issued until a proper introduction has been obtained and also the initial deposit is received.
The concerned official shall make the account opener understand the rules which are inserted in the AOF.
When an account is opened Letter of Thanks should be sent to the account opener and the introducer under registered AD POST. Similarly when an account is opened in the name of a Limited Co/Co-operative Society/any Organization. Letter of Thanks should be sent to the CEO or Chairman of the Society as the case may be.

Individual Account:

An individual competes to make a contract may open an account with the hank subject to the banker is satisfied with his personal identification and willing to enter business relations with him.

Account Opening Formalities

Filling the prescribed account opening form along with a specimen signature card.
KYC and Profile form.
Photographs of the Account holder.
Introducer Signature
Filling the SBS-2 and SBS-3, Reporting form.
Identify Card/Citizenship Certificate.
Approval of the Branch Incumbent.
Letter of thanks to the introducer/Account opener.

Procedure for opening a bank account

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