Withdrawal of money form deceased Account:
Transaction close at the news of death.
Following documents are to be
submitted for withdraw by heirs:
Withdrawl by Nominee:
1 Death
certificate by chairman
2 Application
by nominee with two copies of attested photoes
3 Identification
of nominee by Chairman/ two customers/ two officers of bank
4 Indemnity
by nominee jointly
with two customers of bank
In case of Absence of nominee:
1 Death
Certificate for Chairman
2 Succession
certificate for chairman upto 50 thousnad, for more succession certificate from
court
Sign
indemnity and suirity bond by heirs
4. Application
from heirs
5 Power
of attorney to withdraw by someone by all heirs
Banker- Customer Relationship:
Nature of Relationship:
The nature if relationship between a banker and a customer is contractual in
nature. The account of the customer forms the basis of such contract and the
relationship appears in different forms according to the type of contract which
may be stated as under:
Debtor and
Creditor:
Principal and
Agent
Bailor and
Bailee
Lessor and
Lessee
Trustee and
beneficiary
Mortgagor and
Mortgage
Nature of Relationship in
Islamic Perspective:
Saheb Al-
Maal & Mudarib
Partners in
business
Buyer &
Seller of goods
Brotherhood Concept
Special Relationship:
Obligation to
honour Customer’s Cheques.
Obligation to
maintain secrecy of the customer’s
A/C
Banker’s
Right of General lien.
Right to set
off.
What is Remittance ?
Transmission/transfer
of money from one place to another. Local remittance represents remittance that
takes place within the territory of a country.
Banks have
a wide network of branches all over the country and offer various types of
remittance facilities to the public/customer/client etc.
There are three modes of remittances which are as under:
(a) DD - Demand
Draft
(b) TT
- Telegraphic Transfer
(c) PO - Payment
Order
A
prescribed Application Form bearing No. F-20 is required for effecting
remittance through D-D and the following columns should be filled in properly:
n Name and address of the applicant.
n Telephone No. (if any).
n Date
n Signature of the applicant
n Name of the payee
n Drawee branch
n
Amount
in figure and words.
n Commission is to be realized
/charged as per Head Office circular.
n At present min. Tk. 23/-
Payment of Draft
The drawee
branch should exercise proper care while paying drafts.
n When the draft is presented to the
drawee branch for payment, the particulars of the draft is/are checked with the
advice and signature (s) therein to be verified.
n Payment of the DD has not been
stopped is to be ensured
n
Verification
of Test no, if any, is to be done.
n If the DD issued for cash payment
‘A/c. Payee' rubber stamp’ should be cancelled and a letter requesting the
drawee branch to pay the DD in cash should be issued under sealed cover and
signature of the payee should be attested.
n
DD
Advice should be sent on the same day.
n The drawee branch should ensure that
the payment of the instrument is made in due course.
n As the demand draft is payable to
order it is duty of the paying branch to obtain identification of the payee if
payment is desired over counter.
n
If
the DD is presented through a bank, the endorsement(s) appearing on the
instrument should be prima-facie in order of certification by the collecting
banker
n Though there is no time limit for
presentation, the paying bank should put an enquiry if a draft is presented
after a reasonable period say 6 months. Such a draft may be paid if the
collecting banker certifies that amount has been credited to the payees A/C in
absence of such a certificate, it would be advisable to return the draft for
revalidation before payment.
If the draft is not presented for long
time, it is practice the banker to contact the buyer and request him to arrange
for presentation of the instrument
Cancellation of Draft
n
Some
times the purchaser returns the draft to the issuing branch and requests for
payment by cancellation thereof. In such case we must make sure that the
request is from the genuine purchaser, that the draft was issued by him and is
not a fake one and that he has not already issued a duplicate thereof. However,
if the purchaser of the draft makes a request to cancel the draft and refund
him the amount of draft, the bank should do so after taking the following
precautions:-
Bank should
satisfy itself that the draft has not been delivered to the payee. Section 46
of the NI Act states that the making, accepting and endorsement of a negotiable
instrument is completed only when it is delivered to the person concerned.
Thus, a banker should refuse to cancel the draft, if it is found that the draft
has been delivered to the payee. As a matter of fact, the purchaser losses the
right of getting the draft cancelled as soon as he sends the drafts to the
payee. If the purchaser wants to get the draft cancelled after delivering it to the payee he can do so only
with the consent of payee.
If the
draft is sent by post, the act of posting itself proves the delivery of the
draft to the payee. This is because the post office is taken as the agent of
the payee of the draft.
Payment by Cancellation of Original DD
n Obtain application from the
purchaser along with original DD.
n Obtain signature on back page of the
DD and IBDA.
n Realise cancellation fees(Tk.50/-).
n The signature of applicant must be
verified from the signature on the original form application available
at branch record.
n
An
IBDA for the same amount should be sent to the payee branch mentioning
particulars of DD & IBC A/c
n
Destroy
the signature portion of the DD and write in red ink DD paid by cancellation
and kept DD with Dr. voucher.
TT (Telegraphic
Transfer)
Telegraphic
transfer is so far the quickest method of transferring funds from one place to
another. Some times, the remitter of the funds requires the money to be
available to the payee immediately. In that case the banker is requested by the
remitter to remit the funds over telephone. It is an instruction conveyed by
telegraph/telex/telephone to the drawee branch for paying certain amount of
money to a specified person.
Issuance of TT
TT
application form (F-22) is to be filled in by the remitter with full
particulars signature of the remitter is to verified by the bank's officials.
Money to be received in cash or by debiting remitters account with commission
and Telex/Telephone charges. Entry should be given in B-44 branch wise serially
under supervision of authorised official. Message to be passed immediately to
the drawee branch under secret test by Telex, Telephone, Telegram followed by
IBCA for confirmation. Cost memo F-23 to be issued and handed over to the
client.
Payment of TT
The amount
transferred by TT is either credited to the account of the beneficiary, if he/she maintains an account, or
paid by means of a TT payment order if he/she does not maintain an account.
Cash is paid to the
beneficiary on proper identification, if he/she has no account.
Pay Order
Payment order is meant for
making payment of the banker’s own or of the customers dues locally and not for
effecting any remittance to an out station. In a sense, the payment order is
used for making a remittance to the local creditors.
Issue
and Payment of Payment Order
F-19, should be filled in properly by the customer.
Total amount should be deposited through cheques/cash.
Commission to be realised as per bank’s circular:
From Tk. 1/- upto
Tk. 10,000/- Tk.
15/-
From Tk. 10,001/- upto
Tk. 1,00,000/- Tk.
20/-
From Tk. 1,00,001/- upto
Tk. 5,00,000/- Tk.
30/-
From Tk. 5,00,001/- upto
Tk. 10,00,000/- Tk.
40/-
From Tk. 10,00,001/- and
above Tk.
50/-
n Printed Payment Order leaf should be filled in
as per F-19 and signed by two authorised officers.
n The instrument should be handed over to the
purchaser.
n Payment Orders are required to be discharged
by the beneficiary, where applicable on revenue stamp of appropriate value
against in cash or through account.
General Instructions
for Issuance of Duplicate Draft/ Payment Order
n Immediate caution mark and other
precautionary measures shall have to be taken on receipt of the lost news
whether verbal, written or over telephone.
n Obtain a written application from
the purchaser of the instrument stating that instrument was lost from his
possession and the circumstances there to along with the copy of G.D.
n
The
purchaser of the lost instrument exceeding Tk. 1.00 lac shall lodge a general
diary with the local police station to this effect and a copy of the same shall
have to be submitted alongwith application.
n The signature of the applicant must
be verified from the signature on the original application.
n In case of lost PO, an NOC shall
have to be obtained from the beneficiary of the PO directly that the bank
stating that the concerned PO has not been
deposited with them or has been lost from their custody. Which will be returned
to the issuing bank if found later on and they have no objection in issuance
and delivery of a duplicate to the purchaser by the bank.
n Indemnity bond (F-13) shall have to
be obtained duly signed by the purchaser along with two sureties acceptable to
the bank (stamp value Tk. 150/-).
n On the top of the duplicate PO/DD
the following words shall have to be written in red ink DUPLICATE IN LIEU OF
THE ORIGINAL NUMBER ----------------- DATED ----------.
n
“CAUTION
AGAINST FRAUDULENT ENCASHMENT/WITHDRAWAL A/C” shall be marked in DD/PO issue
register/DD Payable Register.
Special Instruction for issuance of Duplicate DD
No comments:
Post a Comment