Relationship between Banker and Customer
The relationship between a banker and a customer depends on the activities; products or services provided by bank to its. There are numerous kinds of relationship between the bank and the customer. The relationship between a banker and a customer depends on. The relationship between the banker and customer is, generally, like a ' Commercial Transaction'. The relationship between a banker and a.
The banker has the right to close an account, if it is of the opinion that an account is not being operated properly. It may do so only by sending a written intimation to the customer. The most important duty of a banker is to help their clients with all their financial queries and needs. The banker may do so by meeting their clients in person or speaking with them over the phone.
Following are the duties of a banker: The banker should assist and guide them to meet their financial goals. Documents such as loan applications, bank statements and so on, must be reviewed and filed by the banker.
A banker should gather financial information from both new and existing clients. A banker should speak with the clients and use the information gathered to prepare accounts, loans and determine their creditworthiness.
A banker must withdraw and deposit funds. This requires a lot of attention and accuracy.
Be Wise, Get Rich. The debtor-creditor relationship of banker and customer differs from other commercial debts in the following ways: The creditor the customer must demand payment. On his own, the debtor banker will not repay the debt.
However, in case of fixed deposits, the bank must inform a customer about maturity. The creditor must demand the payment at the right time and place. The depositor or creditor must demand the payment at the branch of the bank, where he has opened the account.
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However, today, some banks allow payment at all their branches and ATM centres. The depositor must demand the payment at the right time during the working hours and on the date of maturity in the case of fixed deposits. Today, banks also allow pre-mature withdrawals. The creditor must make the demand for payment in a proper manner. The demand must be in form of cheques; withdrawal slips, or pay order. Now-a-days, banks allow e-banking, ATM, mobile-banking, etc. Relationship of Pledger and Pledgee The relationship between customer and banker can be that of Pledger and Pledgee.
This happens when customer pledges promises certain assets or security with the bank in order to get a loan. In this case, the customer becomes the Pledger, and the bank becomes the Pledgee. Under this agreement, the assets or security will remain with the bank until a customer repays the loan.
Relationship of Licensor and Licensee The relationship between banker and customer can be that of a Licensor and Licensee. This happens when the banker gives a sale deposit locker to the customer. Bank as a Trustee: In case of trust banker customer relationship is a special contract.
The General Relationship between Banker and Customer | Gr8AmbitionZ
When a person entrusts valuable items with another person with an intention that such items would be returned on demand to the keeper the relationship becomes of a trustee and trustier. Customers keep certain valuables or securities with the bank for safekeeping or deposits certain money for a specific purpose Escrow accounts the banker in such cases acts as a trustee.
Banks charge fee for safekeeping valuables 2.BANKER CUSTOMER RELATIONSHIP (G.A for IBPS & RRB MAINS CLK & P.O 2016 EXAMS)
A "bailment" is the delivery of goods by one person to another for some purpose, upon a contract that they shall, when the purpose is accomplished, be returned or otherwise disposed of according to the directions of the person delivering them. The person delivering the goods is called the "bailor". The person to whom they are delivered is called, the "bailee".
Banks secure their advances by obtaining tangible securities. In some cases physical possession of securities goods Pledgevaluables, bonds etc. While taking physical possession of securities the bank becomes bailee and the customer bailor.
Relationship between Banker and Customer
Banks also keeps articles, valuables, securities etc. As a bailee the bank is required to take care of the goods bailed.
The relationship between the bank and the customer is that of lessor and lessee. Banks lease hire lockers to their customers their immovable property to the customer and give them the right to enjoy such property during the specified period i.
Special Relationship between the Banker and Customer
Bank has the right to break-open the locker in case the locker holder defaults in payment of rent. Banks do not assume any liability or responsibility in case of any damage to the contents kept in the locker.
Banks do not insure the contents kept in the lockers by customers. Banks collect cheques, bills, and makes payment to various authorities viz. Banks also abides by the standing instructions given by its customers. In all such cases bank acts as an agent of its customer, and charges for these services. As per Indian contract Act agent is entitled to charges.
No charges are levied in collection of local cheques through clearing house. Charges are levied in only when the cheque is returned in the clearinghouse. A custodian is a person who acts as a caretaker of something. While opening a dmat account bank becomes a custodian. Banks give guarantee on behalf of their customers and enter in to their shoes. Guarantee is a contingent contract.