Different Types Of Bank Customers

Wednesday 13th of April 2011 | By: Administrator | Views: 12466 | Comments: 0 | Rating: 3 Star Content3 Star Content3 Star Content3 Star Content3 Star Content |  

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DIFFERENT TYPES OF BANK CUSTOMERS
Every commercial bank is anxious to increase its customers. However, every one cannot be accepted as its customer. Only those persons who are competent in law to enter into a contract can be considered as customers. The bank is and should be very cautious in the selection of customers as it is to have a continued relationship with them. The customers of a bank can mainly be divided into two categories (1) Ordinary Customers and (2) Special Customers. Ordinary Customers are those who are competent to enter into contract under the laws of land. An individual, a body corporate, a firm can open an account with the bank. The bank before accepting one as a customer weighs the customers financial position, his character, honesty, social standing and good will in the society. The special customers are those who are dealt with as special ones legally. We first of all discuss in brief the special types of individual customers of the following types (1) Minor
(2) Lunatic
(3) Drunkard
(4) Married women
(5) Purdah Observing women

(6) Illiterate persons

Main Features of The Following Types of Customers:

1. Joint account holders
2. Partnership accounts
3. Trust
4. Societies and other non trading institutions

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