Post Dated Cheque:

When a cheque that carries a date later than the date on which it was written by the drawer then the cheque is called post dated cheque. A post dated cheque is a irregular bill of exchange. Therefore, the cheque can not make payment by the bank until the cheque is presented on the particular date or after to the paying bank.

Stale Cheque:

When a cheque is issued mentioning a date but presented at the counter of paying bank after a certain period i.e after the period of six months for payment then the instrument is called as state cheque. A bank can not make payment such cheque as it is deemed an irregular Bill of Exchange. Therefore, a bank may refuse to honor it unless its drawer reconfirms it payment either by inserting a new payment date with his valid signature or by issuing a new cheque.

Dormant Account :

Generally when a bank account has no transaction for a long period of time then the said account kept in different status called as dormant. If there is no activity in a current account for one year or in a savings account there is no activity for two years then the status of account defined as dormant. A banker has an obligation to intimate customer through a letter mentioning the status of the account with a request to regularize the same by depositing and or withdrawing fund from the respective account.

To activate the dormant account the customer must provide a written request addressed to the branch manager to make the account as regular for transaction.

Personal Identification Number (PIN):

It is a secret code to verify the identity of an individual to access of a computer system. It is created by an individual with a combination of letters, numbers and other symbol accepted/adopted by the system. Naturally it can not be disclosed to others for the safety reason when it is prepared for the following purpose:

• Operation of Credit Card
  
• Withdrawal of fund against ATM Card
• To enter into a network/system etc.
  

It is also mentionable here that the code number must be prepared in such a way the person can easily remember the secret numbers instantly as and when needed.

London Interbank Offered Rate (LIBOR):

In London banks are willing to offer fund in the inter-bank market at a particular rate of interest is called LIBOR. It is an average rate of interest of major five banks interested to place/land money for a period of 3(three) and 6(six) months. It is also a standard rate of interest set by those major banks for the following purpose:

• Adjustment of loan
  
• Issuance of financial instruments
• Discounting/purchasing of foreign documents etc.
  

Serving customer with positive communication:

Communication is a most important and vital part of our day-to-day life. We are always communicating with each others for expressing our views. To know each others and continue relationship in between each others we need to do communication. We must develop our communication skills in a very fruitful manner. This will definitely impact our reputation in our business and personality as well. So we must look into the following area during communication.

• be presentable
  
• be smart
• be polite and courteous
  
• smile when a customer approaches
• pay full attention to their queries
• be tactful
  
• and provide smooth services

When a customer approaches please listen to him at first patiently with full attention. In the meantime you have already realized what his requirement is. Then you act on his demand. If it is not related with your desk please send the customer to the appropriate person instantly in a very courteous manner.

Therefore, you must know the structure of your organization very well. If you have clear cut idea about the assignment of each and every person of your institution it will definitely help you out in a effective manner. At the end the customer will be happy for the positive communication.

Online Banking:

It is a kind of modern facility provided by a bank using network connectivity through computer server based on the latest guideline of Information Technology. Through this facility a customer of a bank can enjoy some financial transaction from any other branches (under same bank) of a bank as described under:

• Withdraw fund
• Deposit money
• Transfer fund
• Pay bills
• Checking balance of an account etc.

It is also called as Any Branch Banking facility.

For example a customer of a bank under this facility can approach another branches to perform above mentioned transactions instantly to satisfy their needs and make their life easy.

Minor Account:

A minor is a person of age below 18 years. A minor has no authority to provide a power under law to a natural person to enter into binding contact(s). A minor may open account under a guardianship and the said guardian will operate account on behalf of the minor accordingly. To open a account of minor following procedure to be maintained:

• Account opening form supplied by the bank to be filled with detailed information
• Information about the minor in a separate form in details
• Valid identification of the minor and respective guardian
• Passport size photograph of the guardian and the minor duly attested
• Transaction Profile mentioning the numbers of transaction to be made this account on monthly basis
• TIN Certificate of the respective guardian
  

In spite of that KYC guideline to be maintained during opening of the account.

Procedure to open Account of a Foreign Company:

During opening of a account of a foreign company in Bangladesh we need to maintain following procedure:

• The organization must have the authority to do business in abroad
• Board resolution mentioning the person authorized to operate the said account
• Power of attorney of the authorized person which needs to be authenticated by the Embassy in Bangladesh
• List of Directors of the company
  
• Memorandum & Article of Association with a certificate of Incorporation registered in abroad
• Permission of Board of Investment (BOI)
• Permission of Bangladesh Bank/other regulatory bodies may be required if it is mentioned in the permission of BOI
• Certificate of TIN & VAT Registration or a waiver in this regard
  
• Transaction Profile to be filled mentioning the numbers of transaction will be made to this account on monthly basis

It has be kept in mind that the KYC guideline to be maintained during opening of the account as well.

Few thoughts we need to keep it in mind:

It is very important we need to think over and keep it in mind in our daily life as guidance (taken from great man):

• Learn from yesterday, live for today, hope for tomorrow.
• You are really can change the world if you care enough.
• Cleanse your mind with the soap of concentration and wash it with the water of meditation.
• Happy thoughts makes your life happy. Miserable thoughts make your life miserable.
• Chose your thoughts carefully, they are the builders of your life.
  

Core Risk Area in Banking:

Bangladesh Bank had formed four focus groups who has identified five core risk areas of banking as mentioned under:

1. Credit Risks
2. Asset and Liability/Balance Sheet Risks
3. Foreign Exchange Risks
   
4. Internal Control and Compliance Risks
5. Money Laundering Risks

In this regard Bangladesh Bank has issued a circular Reference No. BRPD # 17 dated October 07,2003 with the above suggestive manuals to implement the guideline in day to day banking activities in order to safeguard the bank from risks.

ATM Card:

Automated Teller Machine (ATM) is a computerized linked device from where an account holder of a bank can withdraw money by using a ATM Card as and when required. But the money can be withdraw only using a Personal Identification Number (PIN) provided by the bank. PIN is a kind of secrete number need to be use after inserting the Card in the respective machine. ATM Card is made of plastic material with magnetic stripe that contain a unique card number and some security information with an expiry date.

Prior to using the ATM Card it has to be ensured that the related account number is linked with the computer device because the ATM card is issued against the account number maintained with the respective bank.

Keep it in mind that a customer is only allowed to withdraw certain amount of money against the available balance maintained in the related account. If the requested amount exceeds the available balance kept in the said account the machine will reject the transaction.

Documents Required to open Local Authorities/City Corporation Account:

Following are the documents required to open the account:

• Account Application Form supplied by the bank to be filled with detailed information
• Certified copy of Statute/any other Law by which the body is created and governed
  
• Resolution of Municipal Committee/Managing Body to open a bank account which must be certified/attested by the Chairman/Mayor/Competent Authority
• List of Members of the committee/body duly attested/certified by the Chairman/Mayor/ Competent Authority
• Transaction Profile to be filled indicating numbers of transactions will be made to this account on monthly basis
  
• Proper identification documents of the authorized person
  
• Passport size photograph of the authorized person duly attested
  

At the same time bank must follow the formalities of KYC guideline as well.

Documents Required to open Sector Corporations Account:

Following are the documents required to open the account;

• Account Opening Form to be filled with detailed information
• Certificate Copy of relevant Presidential Order/Act of Parliament establishing the Corporation
• Resolution of Board of Directors/Competent Authority to open a bank account
  
• Certified copy of list of Directors
• Transaction Profile to be filled indicating the numbers of transaction will be made to this account on monthly basis
• Proper identification documents of the authorized person of the account
• Passport size photograph of the authorized person of the account

At the same time bank must complete the KYC formalities as well.

Documents Required to open Non-Government School/College/University Account:

Following are the documents required to open the account:

• Account Opening Form supplied by the bank to be filled with detailed information
• Certified copy of Registration Certificate
• Copy of Resolution of managing Committee/Governing Body authorizing opening and operation of account in a bank duly certified by a Gazetted Officer
• List of members of the Managing Committee/Governing Body duly attested by a Gazetted Officer
• Transaction Profile to be filled indication number of transaction will be made in this account on monthly basis.
• Passport size photograph of the account authorized person duly attested by the introducer
• proper identification documents
  

At the same time bank must complete the guideline of KYC as well.

Documents Required to open Club/Society Account:

Following are the documents required to open a Club/Society Account:

• Account Opening Form supplied by the bank to be filled with full information
• Certified copy of Registration Certificate
• Certified copy of Charter/Bye-Laws and Regulations/Constitution of the organization
• Copy of Resolution of Managing Committee/Executive Committee for opening account in a bank duly certified by the Chairman/Secretary of the organization
• List of members of the managing Committee/Executive Committee duly certified by the Chairman/Secretary of the organization
• Transaction Profile to be filled mentioning the expected transaction will be made to this account on monthly basis
• Passport size photograph of the authorized person those are involved to operate account
• Proper identification documents
  

At the same time bank must follow the guideline of KYC as well.

Documents Required to open Partnership Account:

Following are the documents required to open a Partnership Account:

• Account opening form supplied by the bank to be filled with full information
  
• Proper identification documents of all partner
• Transaction Profile to be filled mentioning expected transactions will be made in the account on monthly basis
• Copy of Notarized Partnership Deed certified by the all partners of Registered Partnership Deed (registered with the Registrar of Joint Stock Companies and Firms) duly certified by the Registrar of Joint Stock Companies and Firm
• Partnership Resolution signed by all the partners to open account in a bank indicating the types of account and mode of operation
  
• Passport photograph of the partners duly attested by the account introducer
  
• Copy of TIN & VAT certificate if available
  

At the same times bank must follow all other formalities with regard to KYC during opening of account.

Documents Required to open Proprietorship Account:

Following are the documents required to open a Proprietorship Account:

• Account opening form supplied by the bank to be filled with full information
• Copy of proper identification documents
  
• Passport size Photograph - two copies duly attested by the introducer
• Valid Trade License
  
• Tax Identification Number (TIN) certificate plus VAT registration certificate if available
  
• Transaction profile to be filled mentioning expected monthly transaction
  
• Nomination form to be filled with full information
  
• Two copies passport size photograph of nominee duly attested by the account holder

In spite of that bank should complete KYC related formalities as well.

Documents required for opening a bank Account of a Limited Company:

Following are the documents required for opening a bank account of a Limited Company:

• Account opening form to be filled with relevant information
• Identification documents
• Passport size photograph of account holder duly attested
• Transaction profile (TP) mentioning the nature/number of transaction on monthly basis
  
• Board resolution signed by the Chairman/Company secretary
• List of directors with required information
• Certificate of Incorporation certificated by Registrar of Joint Stock Companies (RJSC)
  
• Copy of Memorandum and Article of Association certified by the RJSC duly attested by the Company Secretary
  
• Copy of Form XII certified by the RJSC
• Copy of Updated Tax Identification Number (TIN) certificate
• Copy of a VAT Registration Certificate
• Copy of updated Trade License
  
• Other related documents based on the nature of the company i.e. BOI permission for a industrial client, Bangladesh Bank permission, Import & Export license from Chief Controller of Import & Export (CCIE) etc.
  

Requirement of Nomination:

Everyone must keep it in mind that during opening of account he/she must provide a nomination against the account opened. It is a mandatory by the central bank. Therefore, please maintain following steps for nomination:

• Fill up the nomination form (supplied by the bank) mentioning full information of the person
• Supply a passport size photograph duly attested by the account holder
• If the nominee is a minor, you may mention the legal guardian of the nominee and provide detailed information of the legal guardian along with a photograph duly attested by the account holder.
  

Interest Earned and Deduction of Tax:

Financial institutions providing Interest on various products. Few example depicted below for understanding:

• On savings account on half yearly basis
• On short term deposit account on half yearly basis
• On fixed deposit accounts on maturity basis etc.
  

As per regulation of National Board of Revenue (NBR) financial institutions deducting Tax at source on interest at the rate of 10 percent and depositing the Tax money to the appropriate authority through a chalan within seven days of next month. Therefore, depositor may request to provide them a certificate mentioning the amount earned as interest and the amount deducted as Tax for record purpose and also for reporting to Tax Authority as well.

Regarding Excise Duty:

Excise Duty is a kind of charges on a account deducted once in a year as per rules of the Office of The Customs & Excise Duty realized on the basis of balance maintained in a account in the following manner:

• Balance of a account less then Tk. 10,000.00 no excise duty would be realized ***
  
• Balance of a account in between Tk. 10,000.00 to Tk. 1.00 Lac the excise duty is Tk. 120.00
• Balance of a account above Tk. 1.00 Lac to Tk. 10.00 Lac the excise duty is Tk. 250.00
  
• Balance of a account above Tk. 10.00 Lac to Tk. 1.00 Crore the excise duty is Tk. 550.00
• Balance of a account above Tk. 1.00 Crore to Tk. 5.00 Crore the excise duty is Tk.2,500.00
• Balance of a account above Tk. 5.00 Crore the excise duty is Tk. 5,000.00

*** If the balance of a account exceeds Tk. 10,000.00 any time in the year the bank must realize excise duty on the account. Financial year counted from January to December.

The bank realize charges in the month of December and after realization the money must be deposited to the appropriate authority with in the month of February of next year positively.

Residence Foreign Currency Deposit (RFCD) Account:

Bangladeshi nationality earned foreign currency from abroad but returned Bangladesh permanently can open a foreign currency a/c called RFCD A/C by depositing foreign currency to this account. Following are the documents required to open the A/C:

• A/C opening form supplied by the bank to be filled up by providing full information about the A/C holder
• Photocopy of passport for first six pages with the copy of VISA
  
• Photograph - 2 (two) copy duly attested by the introducer
• Two copy of nominees photograph duly attested by the A/C holder
• Source of fund with proper documents
  
• FMJ Form provided the depositing amount is equivalent to USD 5,000.00 or above

The RFCD A/C holder can take back the amount in foreign currency as and when he again decided to go outside the country to his account maintained in abroad.

Deposit Pension Scheme(DPS):

DPS is a installment based savings deposit (on monthly basis) for individual customer. In this account a customer deposit a certain amount of money for a certain period. And on maturity an agreed amount will be paid to the customer.

To open a DPS account customer will fill up a form supplied by the bank to provide information about him including the information of the nominee of the account with following documents:

• Identification documents of the account holder
• Passport size photograph of the applicant duly attested by the introducer
  
• passport size photograph of the nominee duly attested by the account holder
  

At the same time the applicant must choice a tenor and the amount of monthly deposit. It is better if a customer maintain a Savings Account the monthly installment can be transfer to the DPS account automatically without any hassle. But the depositor must maintain available balance to the savings account linked with the respective DPS Account.

Non-Residence Foreign Currency (NFCD) Account:

Non-Residence Bangladeshi earning foreign currency abroad can open NFCD A/C through his FC A/C maintained with a authorized dealing branch in Bangladesh. It is a kind of deposit for a fixed tenor and the financial institutions are providing interest on the account as per prescribed rate. Following documents are required for the said account.

• Account opening form to be filled in with relevant information
• Photograph two copy duly attested
• Nomination form with a photograph attested by the A/c holder
• Photocopy of passport as required by the bank
  

The beneficiary can take the money back in his name in foreign currency to his account abroad. Therefore, no permission is required to take the money back.

Credit Card:

Credit Card is issued by a financial institution to facilitate transaction against credit limit for a certain period for the following person based on the criteria mentioned below:

• salaried person on the basis of salary
  
• business person based on the strength of business
  
• depositor who maintain handsome deposit in a bank
  

Following documents are required to issue a Credit Card of a salaried person or a depositor:

• bank statement for three/six months
  
• certificate of salary
• Tax Identification Number (TIN) certificate
• identification documents & a copy of passport size photograph
• application to be filled supplied by the institution with two reference
  

For business person the financial institution needs following documents:

• bank statement for three/six months
• TIN certificate
• identification documents & a copy of passport size photograph
  
• Updated Trade License (copy)
• application to be filled supplied by the institution with two reference
  
• board resolution (for a limited company)
• memorandum and article of association (for a limited company)
• certificate of incorporation (for a limited company)
  
• and other documents on the basis of the nature of business (if needed)

The credit card also can be used in the form of foreign currency. But the foreign currency is allocated from the travel quota of a Bangladeshi nationality against the yearly entitlement. To use credit facility in foreign currency the card holder need to take approval from the issuing authority on submission of following documents:

• Original passport for endorsement with maximum limit up to USD 4,000.00 out of which USD 3,000.00 to travel other than SAARC countries
• After endorsement copy of the first four pages and copy of the page of endorsement of passport to be kept by the issuing authority
• At the same time the card holder must intimate the issuing authority prior to leaving country to open the credit limit to enjoy in abroad.
  

Check and Act on it prior to visit Bangladesh from abroad

You are a Bangladeshi nationality residing abroad and thinking to meet with your family members in Bangladesh. Please check following points which will help you a lots:

• Send your money to your bank account in Bangladesh through banking channel
  
• Do not bring cash money which is risky to carry
• If you do not have any account please bring money with a declaration in a form called FMJ From provided the amount exceeds USD 5,000.00 or equivalent to other currency.
• On arrival of Bangladesh please change your money in a bank only and take a encashment certificate which will help you in the future as your own earned money is genuine
• If you have encashment certificate you can build asset with the money and you are also entitled to get the Tax benefit as well.
  

Important information to invest money in Bangladesh for non-resident residing abroad:

Bangladeshi nationality residing abroad are interested to invest money for better return can open account in any bank in Bangladesh to buy land and share/securities or to deposit money for a fixed term.

The return of fixed deposit in the present market approximately are as follows:

Rate of interest for one month : at the rate of 8% per annum
Rate of interest for three months : at the rate of 11% per annum
Rate of interest for six months : at the rate of 11.50% per annum
rate of interest for twelve months : at the rate of 11.75% per annum

It may be mentioned here that on maturity 10% Tax on Interest will be deducted including Excise Duty as prescribed by the appropriate authority as per their regulation.

For buying a flat or a land you can chose the following procedure to make the transactions transparent as your earnings is genuine.

• You need to open a account (SB/F/C) first with a schedule bank in Bangladesh
  
• Remit fund to this account through banking channel
• Provide cheques to the vendor duly signed by you for your equal monthly installment
• Intimate the bank regarding your transactions to honour those cheques
  
• Intimate the bank regarding the vendor from whom you are going to buy land/flat

So, during your next visit in Bangladesh please keep it in the mind and make your dreem come true.

Foreign Currency issued against Travel Quota:

A Bangladeshi nationality residing Bangladesh and going outside the country for travel purpose is entitled to endorse his passport in equivalent to USD 3,000.00 (three thousand) only outside the SAARC countries and USD 1,000.00 within the SAARC countries in a year. The year calculated from January to December. Following documents are required for endorsement:

• Valid passport (a copy of passport for first four pages and the endorsement page is required for reporting purpose)
• Valid VISA (page of VISA of passport is also required for reporting purpose)
  
• Confirmed Air Ticket

An Authorized Dealer(AD) are entitled to issue maximum USD 2,000.00 (two thousand) only in cash and rest amount in the form of Travelers Cheque.

It may be mentioned here that the traveler visiting SAARC countries by bus are entitle to endorse passport for USD 500.00 (Five hundred) only.

On the other hand an importer/exporter/FC account holder's entitlement is differs from the above rules.

Regarding "TM Form":

TM Form is a document required for reporting of Outward Remittance to Bangladesh Bank within 5th day of the following month when the transaction occurred. Few instance of transactions are given below for reporting purpose:

• Any kind of outward remittance requested by the customer
  
• Foreign currency punched against travel quota
  
• Remittance against study purpose etc.
  

Therefore, the TM Form must be signed by the applicant and countersigned by the bank.

About "Form C":

Form C is a document required for reporting of inward remittance to Bangladesh Bank within 5th day of the following month when the transaction occurred against the remittance. Form C is required for the purpose as mentioned below:

• When a bank receive remittance from abroad in a Local Currency Account(i.e. CD/SB/STD)
  
• As an when a customer withdrawal fund from his Foreign Currency (FC) Account
  

The customer must provide following information in the Form C:

• The amount of foreign currency both in words and figure
  
• The name of the originating bank from where the bank received remittance
  
• Purpose of the remittance

Therefore, the Form C must be signed by the customer mentioning his address and countersigned by the bank for the reporting purpose.

Transaction Profile (TP):

TP is a kind of form to be supplied by the banker where a customer need to declare the numbers of transaction of various category will be made in the future on monthly basis.

An example under deposit item:

Cash deposit : 15 times and Maximum amount of per transaction(deposit) : Tk. 5.00 Lac

An example under withdraw item:

Cash withdraw : 10 times and Maximum amount of per transaction(withdraw) : Tk. 7.00 Lac

Prior to open an account a customer must fill up the Transaction Profile (TP) for all kinds of account.

Negotiable Instrument Act must know a banker:

About a cheque: A cheque is an instrument issued by a bank favouring it's customer to settle payment against an underlying transaction.

As per Negotiable Instrument Act under Article 6(six) it has been defined as an written instruction by the maker drawn on a specific banker with a undertaking to make payment a certain sum of money payable on demand.

Drawer: The holder of the account is called the drawer i.e. the person who signed the cheque.

Drawee: The cheque to whom is drawn on i.e. the bank is called drawee.

Payee: Payee is the person to whom the money is paid. i.e. the bearer of the cheque.

Payment in due course: Meaning the payment of cheque is made by the banker in accordance with the apparent tenor of the instrument in good faith and without negligence to any person as directed in the cheque.

Non Resident Investor's Taka Account (NITA):

The non-resident shall open a NITA with any Authorized Dealer (AD) in Bangladesh. Money must be deposited to the account in freely convertible foreign currency remitted from abroad through normal banking channel. Balances in this account may be used to buy Bangladeshi share/securities The balances are also freely remitable abroad in equivalent foreign exchange. The NITA can be operated by the account holder himself or by a nominee, including AD itself.

Following documents are required to open NITA Account :

• Account opening form (supplied by the bank) to be filled by the applicant with full information
• Photocopy of passport for first four pages including VISA page
• Photograph two copy duly attested by the introducer of the account
• Nomination form to be filled with a photograph of the nominee and the photograph must be attested by the applicant of the account
• KYC to be maintained with Transaction Profile to know the transactions on monthly basis
  

Banking facility for Bangladeshi Wage Earners residing abroad :

Wage Earner is a Bangladeshi nationality residing abroad and earning foreign currency. A Wage earner person can open Foreign Currency (FC) account in a any Authorized Dealing banking branch in Bangladesh. They are also allowed to open Savings Deposit (SB) Account in any schedule bank in Bangladesh.

After opening of FC account, an account holder can remit fund through banking channel and the money can bel deposited to the respective account. The money may be used for may purpose and the account holder need not to pay any Tax to buy land/flat etc if the transaction routed through the account. Money must be deposited in foreign currency and the account holder has a right to take the money back in his bank account abroad without any permission from any authority.

On the other hand the said person can open SB A/C and money also can be deposited to this account through banking channel. The formalities of the SB account mentioned earlier (see below).

Following are the formalities to open a FC A/C in a Authorized Dealing Banking Branch:

• Account opening form (supplied by the bank) to be filled by the account holder
• Photocopy of passport for first four pages including VISA page
  
• Passport size photograph - two copy duly attested by the introducer of the A/C
  
• Nomination form duly filled with a passport size photograph of the nominee and the photograph must be attested by the opener of the A/C
  
• Authorization form to authorize other person to operate A/C in absence of A/C holder
• Copy of Work permit & Monthly income statement
  
• Transaction Profile (TP) to be filed mentioning expected transaction on monthly basis
• KYC form to be filled by the banker to update file
• After opening of A/C the holder of the account must deposit foreign currency amount to his account by himself

Tips for the Wage earner person : A Wage earner can carry Foreign Currency up to USD 5,000.00 or equivalent to other currency without declaration during arrival in Bangladesh. But to carry more that USD 5,000.00 the person must declare the fund in a FMJ Form and declaration must be given in front of appropriate authority in the Airport prior to the completion of immigration formalities on arrival.

Know Your Customer (KYC) Policy :

KYC is a must to open a account. At the same time we need to know about the customer in the following manner for a individual nature of account:

Name of the customer
Date of birth
Father's name
Mother's name
Marital status
Spouse name
Present address
Permanent address
Passport number or any identification
Phone number both T&T & Mobile
Occupation
Source of fund
TIN number
Vat registration no
Any other related information with relevant documents
Purpose of the accounts
Volume of transaction
Nature of transactions

Basically KYC is required as per guideline of Anti Money Laundering (AML) Act 2002. Main purpose of KYC is to find out the real identity of the customer to whom a bank will do business.

Requirement of Documents for opening a Personal Savings/Current/STD Account:

To open a personal CD/SB/STD account we need following documents:

• Account opening form supplied by the bank to be filled by the account holder by providing details information with specimen signature
• Identification documents like a copy of valid Passport/ID card/Voters ID/Union Parishad Chairman's certificate or any other types of valid documents accepted by the bank
  
• Two copy of passport size photograph of the account holder duly attested by the introducer of the account
• Nominees information with a passport size photograph duly attested by the account holder
• Transaction Profile (TP) to be filled by the A/C holder on the basis of the expected transaction may be made in a month
  
• Initial amount of money to be deposited to the account by the A/C holder himself
  
• Tax Identification Number (TIN) certificate if available
  

Account must be introduced by a banker or a existing client of the same bank is entitled to act as an introducer. Introducer must fill up his part of the A/C opening form with his valid specimen signature.

Information of a Banker: Banker must fill up the KYC (Know Your Customer) form and mention the purpose of the account as well.

Types of Accounts:

It is my pleasure to tell you the types of accounts that we are using in our daily life to do transactions (withdraw & deposit money) are as follows:

• Current Account (CD)
• Savings Account (SB)
  
• Short Term Deposit Account (STD)
  
• Fixed Deposit Receipt Account (FDR)
  

Purpose :

CD Account : Basically this types of accounts can be opened by a person/business institution to deposit and withdraw money several times in a day to meet the business requirement. It's a non interest bearing account. So, you can do transactions as much as you can. The banker issue cheque book against the account.

SB Account : SB account can be opened singly or jointly on the basis of needs. It's a interest bearing account. But, there are some restrictions to withdraw fund to get the benefit of interest. Banker issuing cheque books against the account.

STD Account : It is called short term deposit account. A person and or a institution can open such types of account for doing transaction frequently as per business needs. It's a interest bearing account. Banker issuing cheque books against the account.

FDR Account : The account is opened by a person and or a institution to deposit fund only for a fixed tenor with a fixed rate of interest. Tenor meaning One/Two/Three/Six/Twelve Months. It also can be opened for two or three Years. Banker provide different rate of interest for different tenor. A receipt is issued against the account. On maturity the FDR Receipt must be produced to the banker for payment. FDR A/C can be open with a written request by debiting CD/SB/STD account. But nomination is a must for the account and a photograph of nominee is required duly attested by the applicant of the FDR account.

Very important : The customer must keep cheque books under locked and key at their own custody and also at their own risk to avoid fraudulent activities to safeguard you/your institution and or a bank as well.

Experience :

One day a gentleman moving here and there in the bank premises and even looking here and there. I was watching the man and asked him can I help you? Then the gentleman smiled at me, then started talking to me and wants to open an account. But, this was the first time he is approaching a banker to open a account to keep the money for safety purpose.

Welcome to banker's diary :

Hi this is Md. Fakhrul Islam I have been working in banking sector for the last 21 years. Banking is a very interesting area. Each and every one must know about banking in order to take care of your money in day to day business. Therefore, you will be benefited if you have clear idea about banking. Hope all of you will enjoy this blog.