A Banker has multiple functions. Basically, the banker should be a wise person. He trades in other currencies, but alone. In a true sense, a better banker customer relationship mainly brings success.
As the custodian, but also as the custodian of financial consulting. Opening a customer account means that a person becomes a customer of the bank.
The term “Customer” refers to a relationship whose duration does not matter. The transaction can represent you as a customer. The transaction frequency is expected, but not emphasized. The transaction must be related to the bank.
The relationship between the bank and its customers can be fiduciary. To maintain trust, banks must fully fulfill their obligations to customers. Fairness and due diligence.
The main responsibility of the bank is to protect the deposits of customers and keep the secrets of the customers. Worry-free customer service.
Mainly and agency relationship: When banks cash checks, money orders, guaranteed dividends, pay insurance premiums, etc.-there is a basic relationship between bankers and their customers.
Trustees and beneficiaries: Bankers only become trustees under certain circumstances, for example, depositing money for a specific purpose until that purpose is achieved.
The banker is considered to be the trustee of the money. If the check is cashed for cashing before the bonus is cashed, he will keep the check as trustee.
As the bank of deposit, the bank not only becomes the trustee but also the custodian, so the customer is the guarantor. Here, the banker customer relationship may be also defined as bailee and bailor.
Tenants and tenants: Banks provide home buyers with lockers for rent. It is the homeowner and the tenant. In this case, banker customer relationship is lessor and lessee.
Customer rights/responsibility of the bank:
The bank allows its customers to obtain at least future rights, that is, the bank/financial institution must perform the following obligations to the customer:
A) Disclosing the current interest rate before signing the contract with the consumer. For deposits and interest-bearing loans, banks and financial institutions must:
1. Inform the buyer of the expiry time of the deposit or fixed loan.
2. Notify the buyer of any commissions and the consequences of premature termination of deposits or fixed loans.
3. Let the buyer know whether the interest rate is fixed or floating.
4. Tell them what they think and the frequency of payment or interest deduction.
5. Explain the strategy used to calculate the percentage of each product.
6. Specify the total income expected by the buyer’s sole.
7. If applicable, please indicate the total cost of the pirate loan.
B) Disclosing the latest list of fees, charges, commissions, etc. As a financial service provider, the bank must:
1. Provide the buyer with a list of fees, charges, and commissions. You will be paid for the goods or services selected by the buyer.
2. Post your standard tariffs and fees in a prominent place anywhere. 3. Inform the buyer of any additional fees or expenses that may be paid to the buyer.
C) Notification of changing conditions:1) The bank/financial institution will notify the consumer:
At least 30 days before the terms, charges or fees, service interruption, or the relocation of the financial service provider’s facilities. Changes in interest rates of goods or services
D) Value-added services: Banks must obtain written consent from customers before they can use other services, such as online banking, SMS banking, service ATMs, etc., and inform the buyer of the conditions and fees charged to them.
E) Guarantor: Before anyone can act as a guarantor, the bank must write:
1. inform the person of the scale and nature of its potential obligations.
2. It is recommended that individuals consult independent laws before acting as a private guarantor The opinion of the consultant.
F) Disclosure of other facts, such as:
1. Currency exchange rates, financial plans, financial performance, etc.
2. Business hours and vacations suggest.
Customer responsibilities/Banker’s rights:
a) Customers must comply with banking rules, conventions, functional rules, etc.
b) Customers must comply with the conditions set by each bank’s products and services.
c) Customers must observe disciplinary measures at customer service points.
d) The customer must report the complaint to the bank appropriately or as required.
e) The customer must notify the bank of the change of its address, contact number, KYC (Know Your Customer), and TP (Transaction Profile).
f) The client will not attempt to show inappropriate continuity, demands, arguments.
g) Customers should usually submit their inquiries to the specified location first, such as customer service, help desk, information desk, or help desk.
h) Customers should avoid misunderstandings as much as possible. The relationship with the bank customer can terminate with a written application.
As long as there is a certain type of deposit account, the relationship will continue. However, the relationship can be terminated in the following circumstances: The customer requests an unclaimed escrow account. The death of the customer bankruptcy that the customer does not want-the balance will be sent to the beneficiary, liquidator, or official agent, and then the account will be closed. Judicial rulings are made based on court orders. The order of the tax authority.