* Opening of Current Account:
A prospective customer may only open a current account following an interview with the operations manager or the customer services officer. At the interview, the legal status of the applicant will be established and the appropriate mandate completed. References are to be taken as set out and must be verified and confirmed to be acceptable. Where the customer is known to have another Banker, a status enquiry must be sent out and followed up until an answer is received.
A minimum initial deposit in cash as stated below is required:
a) Personal -N 1,000
b) Co- operative - N 2,000
c) Firm -N 2,000
d) Company -N 5,000
Customers who are to receive salaries through their account may be allowed to open with N 1,000.00 only.
* Account Opening Form
Account opening form is to be completed.
* Two references are to be obtained for the personal and firm accounts while two references are to be taken on the signatory or signatories to company and co-operative accounts.
* Signature Card
One signature card applicable to each type of account is to be taken. The card is to be completed in front of the officer and should indicate clearly the signing instructions. For large and reputable companies or other organization, the card may be completed at the offices of the organization. In such a case, the card must be compared to the resolutions to ensure that signatures are in agreement. The signature(s) and image of the account holder is scanned into the computer system.
* Mandate
All the opening documentation concerning the customer’s account become the mandate or authority under which the bank is authorize to operate the account.
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