SB accounts specifications synopsis

SB accounts specifications synopsis - interest to the...

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Creation and maintenance of savings accounts in the Banks: Synopsis: 1. Opening of the account with a customer code with application form and other relevant data in the system. 2. Operational instructions in the account. 3. Authorization for opening the account and scanning and linking of the specimen signature to the account. 4. Ledger maintenance with daily transactions in the account. The daily transactions cover cash, clearing and transfer entries. 5. Linking of the daily transactions in the accounts to the sub day book and day book for the daily run and taking it to the general ledger balances. 6. Interest plan, rates and application of interest on half yearly interval. Application of
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Unformatted text preview: interest to the individual accounts. 7. Issuance of Cheque books and maintenance of records for cross reference. 8. Maintenance of minimum balance in the accounts and levying charges for non maintenance of minimum balances. 9. Issuance of pass book and statement of accounts. 10. Noting stop payment instructions and execution of the same. 11. Noting of standing instructions in the accounts and execution of the instructions on the due dates. 12. Taking monthly jottings and balancing of the book with the general ledger. 13. Issuance of ATM cards to account holders and linking of the account to the net work for carrying out ATM operations. 14. Closure of the accounts....
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