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.