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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 else can I help you with?
What are the functions of client officer in a bank?
provide client support services and maintain good relationship with client in the bank
What is client funds?
Money managers who invest and manage other peoples money are investing their "client's funds" or money. From a bank's perspective, all the money that the bank's clients deposit in the bank are "client funds".
What is the difference between Cash against Documents and Letter Of Credit?
In the case of foreign trade, payment is always done through banks. The supplier assigns a bank and the customer assigns a bank. The deal happens between these two banks only. Cash Against Document (CAD): The supplier produces the documentation through its bank to the clients bank, then the client's bank hand overs the documents to its client against receiving payment. After that, the client's bank transfers the money to supplier's bank. Letter of Credit (LC): The supplier produces the documentation through its bank to the client's bank. The client's bank directly pays against the document's submission, so the risk is on client's bank. Hence, the trust worthiness factor increases, as the client's bank guarantees the payment against documentation. It is always preferable when both parties lack trust and want more security. The basic difference is in CAD the client pays the money to its bank and the bank sends it to the supplier's bank. With LC, the client's bank pays the money without failing against documentation, so in LC the supplier is more assured of getting the money.
What are responsibilities of a sales bank?
to generate client profit.
What is murabaha?
Murabaha is a sale contract with a bank whereby, the bank purchases the goods, and then resells them to the client with an agreed upon profit margin.
What are the functions of client officer in a bank?
provide client support services and maintain good relationship with client in the bank
What is client funds?
Money managers who invest and manage other peoples money are investing their "client's funds" or money. From a bank's perspective, all the money that the bank's clients deposit in the bank are "client funds".
Can a bank give bank guarantee to another bank?
A Bank-guarantee is a Banking Instrument through which a Bank indemnifies the client against any default committed by the supplier against a contract. A bank can give BG to another bank on behalf of a client of the beneficiary bank. Secondly, a Bank can give BG to a beneficiary on behalf of another Bank. For example, suppose a client in USA does not accept a BG from an Indian Bank. What will the Indian supplier do then if he doesnt have an account in a reputed foreign bank. In such a case, the client will approach an Indian Bank for the BG. The Indian Bank will then approach a reputed foreign bank for the counter BG. The foreign Bank will issue a BG in favour of the client on behalf of the Indian Bank. Alternatively, the foreign bank, instead of issuing a BG, can stand guarantee to the BG issued by the Indian Bank to the client in USA.
How would you convince a customer to become a client of there bank?
To convince a customer to be a client of your bank, spell clearly the benefits of the program to the customer.
Is bank liable for a client who is going to deposit cash at bank and he is robbed and injured at the bank's parking?
the bank is not liable for a client who is robbed of money outside the bank's banking hall .The bank is only responsible for the security of its customer's and/or their valuable while inside the bank.
Why is a client's bank account a liability to the bank?
The money has to be paid out on demand.
What is the difference between Cash against Documents and Letter Of Credit?
In the case of foreign trade, payment is always done through banks. The supplier assigns a bank and the customer assigns a bank. The deal happens between these two banks only. Cash Against Document (CAD): The supplier produces the documentation through its bank to the clients bank, then the client's bank hand overs the documents to its client against receiving payment. After that, the client's bank transfers the money to supplier's bank. Letter of Credit (LC): The supplier produces the documentation through its bank to the client's bank. The client's bank directly pays against the document's submission, so the risk is on client's bank. Hence, the trust worthiness factor increases, as the client's bank guarantees the payment against documentation. It is always preferable when both parties lack trust and want more security. The basic difference is in CAD the client pays the money to its bank and the bank sends it to the supplier's bank. With LC, the client's bank pays the money without failing against documentation, so in LC the supplier is more assured of getting the money.
What is the Journal entry for buying a client list?
debit client listcredit cash /bank
What is an MT 760?
When a bank issues its client a MT 760, the bank puts a hold on the client's funds, which means the client cannot access their money. The funds are then at the disposal of the person the MT 760 was issued in favor of.
What are the Example of server?
The example of client server model is that to check your bank account from your computer, a client program in your computer forwards your request ro a server program at the bank. this program may in turn forward the request to its own client program that sends a request to a database server at another bank computer to retrieve your account balance.The balance is returned back to the bank data client, which in turn serves it back to the client in your personal computer,which displays the information for you.
What are responsibilities of a sales bank?
to generate client profit.
Asset under administration?
Assets under administration is when a bank or other firm maintains and accounts for the funds of a client. The client is in control of the money that is being managed by the bank.
