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Meaning of paying banker?
the banker on whom a cheque is drawn or the banker who is required to pay the cheque drawn on him by a customer is called the paying banker or drawee bank
Difference between collecting banker n paying banker?
When a check is written on a bank account, the banker at that particular bank is the paying banker. They are responsible for paying the check when a customer presents it for payment. A collecting banker collects the checks for his customers from a paying banker.
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.
Why banker-customer relationship is consider so important?
Because you want to be able to trust the banker, because they are taking care of your money by the way... Bankers want to be able to trust the customer with responsibilities with the money because, they DO care.
What are the duties of customer to their banker?
The duties of a customer to their banker is not only respect but also the confidence to deposit their money. The bank needs customers to deposit money so that they can loan more money out and in turn earn more money.
What is the difference between the banker and its customer?
the banker is the banker while the customer is the customer
Brifliy expline primary relation ship of banker and customer?
The relationship between a banker and a customer is called a contractual relationship.
What procedure does a banker follow to close the account of an undersizeable customer?
1. Banker issues due notice of intention to close customer's account and requests him to withdraw the balance amount. banker must give sufficient time to customer to make alternative arrangements. 2. If the customer still doesn't close his account, the banker issues another notice stating the last date by which the customer must close his account, otherwise it will be terminated by the banker himself. 3. If the customer defaults to close his account, the banker terminates the account himself, and sends the balance amount of money to the customer by a draft.
Meaning of paying banker?
the banker on whom a cheque is drawn or the banker who is required to pay the cheque drawn on him by a customer is called the paying banker or drawee bank
What is a banker's lien?
A banker's lien is a right of a bank to satisfy a customer's matured debt by seizing the customer's money or property within the bank's possession.
What is a collecting banker?
A collecting banker is one who undertakes to collect the amount of a cheques & bills for his customer from the paying banker. A banker is under no legal obligation to collect cheques drawn upon other banks for a customer. But this function is performed by every modern bank.
Difference between collecting banker n paying banker?
When a check is written on a bank account, the banker at that particular bank is the paying banker. They are responsible for paying the check when a customer presents it for payment. A collecting banker collects the checks for his customers from a paying banker.
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.
How do you become a personal banker?
Good experience in sales/marketing and customer service
Why banker-customer relationship is consider so important?
Because you want to be able to trust the banker, because they are taking care of your money by the way... Bankers want to be able to trust the customer with responsibilities with the money because, they DO care.
What are the duties of customer to their banker?
The duties of a customer to their banker is not only respect but also the confidence to deposit their money. The bank needs customers to deposit money so that they can loan more money out and in turn earn more money.
When can a banker act as an agent for collection?
A banker can act as an agent for collection when they are authorized by a customer to collect payments on their behalf, typically through a formal agreement or mandate. This often occurs in the context of collecting cheques, promissory notes, or other financial instruments. The banker must follow the terms set by the customer and ensure proper handling and reporting of the collected funds. Additionally, the banker must act in accordance with relevant regulations and best practices to protect the interests of the customer.
