What are the banker customer relationship?
Hear this out loudPauseWhen a customer opens an account with a bank and if the account has a credit balance, then the relationship is that of debtor (banker / bank) and creditor (customer). In case of savings / fixed deposit / current account (with credit balance), the banker is the debtor, and the customer is the creditor.
Why is banker customer relationship important?
Hear this out loudPauseThe transactional relationship between a banker and a customer depends on the activities and the services provided the customers. Bank’s business depends much on the strong bondage with the customer. The most important factor in building healthy relationship between a banker and customer is trust.
What is the primary relationship between banker and customer?
Hear this out loudPauseThere is a primary relationship between Banker and customer is debtor and Creditor. But who is what at a particular moment depends on the state of the customer’s account. If the account shows a credit balance, the banker will be a debtor and the customer a creditor.
How can a banker customer relationship be terminated?
Hear this out loudPauseBanker-customer relationship is a contractual relationship between two parties and it may be terminated by either party on voluntary basis or involuntarily by the process of law.
What is multiple customer relationship?
Hear this out loudPauseReplying to @vrsmanisha. The message about multiple customer relationships is getting displayed as details provided by you are matching with existing customer records in our Bank. Presently Digital Savings Account is available for new customers only.
How does banker-customer relationship start?
Hear this out loudPause1. Debtor and Creditor: When a ‘customer’ opens an account with a bank, he fills in and signs the account opening form. By signing the form he enters into an agreement/contract with the bank. When customer deposits money in his account the bank becomes a debtor of the customer and customer a creditor.
Who is a customer of a bank?
Hear this out loudPauseThe customer is one who has a bank account. “Customers are bank depositors, who entrust their money, banking facilities, for storage and fruiting, for which they receive interest and applicants or those who need temporary, some additional money for paying interest or commission” (Pîrvu, 2004, p.
What is the relationship between a banker and a customer?
General relationship comprises of primary and secondary relationship. In a primary relationship, includes the debtor and creditor relationship & the creditor and debtor relationship. In this case, the banker accepts money as the deposit from the customer. So, the banker becomes the debtor and the customer becomes the creditor.
What’s the relationship between a depositor and a customer?
A depositor remains a creditor of his banker so long as his account carries a credit balance. The relationship with the customer is reserved as soon as the customer account is overdrawn. Banker becomes a creditor of the customer who has taken a loan from the banker and continues in that capacity fills the loan is repaid.
What is common nature of bank customer relationship in India?
Following are the common nature of bank customer relationship observed in India – 1. Debtor and Creditor relationship: When bank accept deposit then bank becomes debtor and customer becomes creditor.
When does a customer become a pledger to a banker?
When a customer pledges an article (goods and documents) with the banker as a security for the payment of debt or performance of the promise, the customer becomes a pledger and the banker becomes the pledgee. Section 148 of the Indian Contract Act, 1872 defines Bailment, bailor and bailee.