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Banker customer relationship,is just a special contract where a person entrusts valuable items with another person with an intention that such items shall be retrieved on demand from the keeper by the person who so entrust. Thus the banker is the one who is entrustd with the above mentioned valuable items,whie the person who entrust the items with a view to retrieving it on demand is called the customer. The relationship is thus based on contract.It is based on certain terms and conditons.For instance,the customer has the right to collect his deposit on demand personally or by proxy.The banker too is under obligation to pay, so long the proxy is duly auhorised by the customer It has a semblance of creditor /debtor relationship.Thus the customer is the creditor who has the right of demand on the money from the banker.As long as the banker is keeping the customer items,the banker is indebted to the customer. The elationship is also fiducial.The terms and conditons governing the relationship should not be leaked to a third party,particularly by the banker.Also the items kept should not be released to a third party without due authorisation by the customer. Banker customer relationship,is just a special contract where a person entrusts valuable items with another person with an intention that such items shall be retrieved on demand from the keeper by the person who so entrust. Thus the banker is the one who is entrustd with the above mentioned valuable items,whie the person who entrust the items with a view to retrieving it on demand is called the customer. The relationship is thus based on contract.It is based on certain terms and conditons.For instance,the customer has the right to collect his deposit on demand personally or by proxy.The banker too is under obligation to pay, so long the proxy is duly auhorised by the customer It has a semblance of creditor /debtor relationship.Thus the customer is the creditor who has the right of demand on the money from the banker.As long as the banker is keeping the customer items,the banker is indebted to the customer. The relationship is also fiducial.The terms and conditons governing the relationship should not be leaked to a third party,particularly by the banker.Also the items kept should not be released to a third party without due authorisation by the customer.
Wiki User
∙ 15y ago
Wiki User
∙ 9y agoA customer relationship with a bank is essentially the services you get with your bank. Business build customer relationships to establish loyalty.
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A bank received the payment of an outstation bill on behalf of his customer but before the money could be credited to the customer's account the bank failed what is relationship between the bank?
Principal and Agent.
Who is a customer as per bank definition?
For a bank, a customer is a person who is utilizing one or more of the services provided by the bank. A customer is a person through whom the bank gets an opportunity to make an earning in return to the service they can provide the customer with. For Ex: an individual who has a checking account with a bank or an individual who has a mortgage or a loan with the bank or an individual who has a fixed deposit with the bank are all customers of the bank.
What relationship is developed when the bank collects a cheque on behalf the customer?
Agent & Principal
Is it necessary for an individual to have account with the bank to be customer of that bank?
Yes. Only if a person has any kind of account relationship with the bank, he will be termed as a customer of the bank. It could be any account like say checking or loan or credit card or any kind or service the bank provides. If the person uses them, he becomes a customer of the bank.
Definition of customer relationship management?
To be in managment you have to have great customar skills, listening andvising and caring.
Who is a client of a bank?
If a person has any kind of account relationship with the bank, he will be termed as a customer or a client of the bank. It could be any account like say checking or loan or credit card or any kind or service the bank provides. If the person uses them, he becomes a customer/client of the bank.
What is CIF No. in bank passbook?
The CIF number on a bank passbook refers to the Customer Information Files which stores any information about the customer's account and personal information that is deemed pertinent. This information can be viewed not just by account type but by relationship with the bank as well.
What is the definition of domestic bank?
The domestic bank is that bank which works domestically, i mean to say, that the banks which working under its geographical boundaries is termed as domestic bank.moreover the domestic bank assure the customer accounts.
Explain special relationship between banker and customer?
Bankers and customers work together to do financial transactions. A good banker will help a customer secure mortgages, balance accounts, and maintain a good relationship with the bank.
What is the definition of transaction selling?
a form of personal selling that focuses on making an immediate sale with little or no attempt to develop a relationship with the customer.
What are the impact of customer service on bank performance?
Bank should not irritate customer.
Legal definition of a bank loan drawdown?
what is the definition of bank "drawdown"
