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to have a bank account.

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12y ago
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Q: What is the best way to build a relationship with a banker?
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The basic function of a banker is accepting of money from the public by way of deposits and deploying the same by means of loans and investments. Besides these functions, bankers render a variety of services to their customers, like providing locker facility, keeping articles in safe custody, collecting bills, cheques, ATM Services, tele-banking, internet banking, and so on. While rendering these services, different types of relationships are created between the banker and the customers, depending upon the nature of services rendered. Banker-customer relationship is thus a contractual relationship, where one person (called customer) entrusts valuable items, like money, jewelry, important and valuable documents, etc., to another person (called a banker) with an intention that such items shall be retrieved on demand.Thus the banker is the one who is entrusted with the above mentioned valuable items, like money, jewels, etc., while the person who entrusts these items with a view to retrieve it on demand is called the customer. This relation between a banker and a customer is a contractactual relationship, which is based on certain terms and conditions. When a customer deposits his money into a savings bank account, the relationship that is established is that of the debtor and the creditor as long as the customer's funds are with the banker. This relationship is called the primary relationship. This position is reversed when the banker lends to the customer.TRANSACTIONBANKERCUSTOMERDeposit in the BankDebtorCreditorLoan from the BankCreditorDebtorLockerLessorLesseeSafe CustodyBaileeBailorCollection of ChequeAgentPrincipalPledgePawner (Pledgee)Pawnee (Pledgor)MortgageMortgageeMortgagorHypothecationHypothecateeHypothecatorShares given for SaleAgentPrincipalM.J. SUBRAMANYAM, XCHANGING, MUMBAI


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