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United Bank Limited Internship Report
United Bank Limited Internship Report
INTERNEE NAME:
UMAIR JAVED
INTERNSHIP PERIOD:
Six WEEKS
BRANCH (ES):
COMMERCIAL CENTRE. S.TOWN RAWALPINDI
Contents of Report
Acknowledgment
UBL, where you come first
Consumer Banking
UBL Address
UBL BusinessLine
UBL CashLine
UBL Credit Cards
UBL Drive
UBL Money
Commercial Banking
Agriculture Products
Small Business Schemes
Investment and Saving Accounts
UBL Basic Banking Account
UBL Business Partner (Current Account)
PLS UniSaver
PLS UniSaver Plus
UBL Rupee Transaction Account (PLS Saving)
UBL UniFlex
eTransaction (Current Account)
UBL Profit COD
Complementary Services
Insurance Certificate
UBL Wallet VISA
UBL Orion
UBL Net banking
Humrah
UBL e-statement
My Learnings
Account Opening
Clearing of cheques
Remittances
Demand Drafts
Pay Orders
Uni Remote
Security Deposit Receipts
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Acknowledgment
By the Grace of Almighty, the most Merciful, the most Beneficial, I'm today
submitting my internship report, at the end of my first pragmatic experience and I'm glad
to have it with UBL, where you come first, only if you're the customer. Thirst of learning
is inside you, and whatever the environment, if you're willing to learn, you do. At UBL, I
had a new, challenging, yet a perfect environment to learn. My parents' prayers and their
teachings were always with me and hereby I will like to take this opportunity to show my
gratitude to all those who made my internship an adventurous outwit.
.
.
Here I am, from more professional and rather corporate environment of UBL
C.C. Satellite town branch. I never knew what it all going to be. As I enter the branch, it
took me a minute to realize that the person sitting in the half fortified walls is the
manager. Maybe I was expecting him in a glass sheeted room. At a glance, I grasped the
interesting personality of the manager and today at the end of my internship; hes one of
the persons Ill always remember. Sir whatever I learnt from you is always going to be
respected, no matter whatever business field I choose. Those tips are always in my
memory bag.
Despite of the most hectic schedule, Maa'm Saiqa helped me so much. I'm really
grateful to you maa'm for clarifying my concepts and making me learn from your
experience. Whatever I learnt from you will definitely help me in my upcoming study and
the professional life ahead. Thank you so much for being so co-operative and so helpful
every time. I hope maa'm I have been up to your expectations.
In the end, I'll like to thank all my other colleagues, Mr. Ghaffar, Mr. Mirza, Mr.
Latif, Maa'm Beenish and all my other fellow internees, here and in cantt branch, for their
unconditional support and help in making me learn in a good environment.
Umair Javed
Consumer Banking
You as an individual can gain and benefit the most through UBL Consumer Banking. In
UBL you get friendly, efficient and attentive personalized banking services - a unique
banking relationship experienced by each UBL client. You can utilize the following
services.
UBL Address
Owning a house of your very own is a cherished dream. A lot of planning and hard work
is involved in making this dream come true. That is why, at UBL we aim to make your
decision easier, by offering you the right ingredients that can help you realize your dream
with absolute convenience.
UBL Address empowers you to become the proud owner of a home by offering a variety
of product and pricing options that are flexible yet affordable. So choose the best product
option and pricing to suit your needs. All product options are amortized and range over a
tenor of 3-20 years.
Buying a home
Why rent when you can buy? Buying a home of your choice has never been so easy.
With a maximum financing limit of 80% you can easily buy a house or apartment that
best fits your requirements. So go ahead and start the search for your dream home because with easy and affordable installments you need not think of renting a house when
you have hot UBL Address.
UBL Business Line
UBL Businesslin a complete solution to all your Business Financing needs. With UBL
Business Financing facility, you can now take your business to greater and newer heights,
and achieve the level of success that you truly deserve. UBL Businessline is a running
Finance facility that not only provides funds for growth but also enables you to capitalize
on profitable opportunities.
With UBL Businessline, now you will surely say. Ab Hui Kamiyaabi Meri Manzill.
Now, UBL Businessline credit line is here to solve all your cash flow problems. You can
utilize up to Rs.10 million with the help of which you now focus on your business expansion and growth.
Other Services:
UBL e-statement:
UBL is pleased to announce the launch of the UBL e-statement facility which it
easier for you to get your statement of accounts and automated transactional debit/credit
alerts right into you inbox.
Hamrah:
UBL has always been adding the forefront in identifying and meeting the
financial needs of its valued customers. UBL was a pioneers an introducing Rupee
Travelers Cheque facility in Pakistan, as early as 1971. In continuation of the same
tradition, UBL in the shape of, HAMRAH Rupee Travellers Cheque enhances this
facility for the convenience of its valued customers by offering denomination up to
Rupees 10,000.
UBL has a 24 hours customers help-line, providing its customers with round the clock
tele-verification of HAMRAH Rupee Travellers Cheques.
UBL Wallet:
UBL Wallet VISA as your debit card, you can shop all you want, eat all you can
or fill up car tank without carrying any cash.
Commercial Banking
To stand tall among the worlds leading banks, UBL has developed a YOU
attitude to understand its customers well. When you talk, we speak for you. For small and
middle size investors, UBL has so much to offer, so much to deliver. You live the way
you want; we will always be shadowing you. Walk in to any nearest branch of UBL, enter
the world class bank and let us serve you with what you need.
Profit Rate*
Rs. 25 million
5.00%
5.10%
5.20%
5.30%
5.50%
Amount
Profit Rate
1000-50000
7.0%
50001-100000
7.25%
100001-200000
7.5%
With UBL UniFlex, we serve you with fix profit rates at maturity.
E-Transaction (Current Account)
In the era of glooming computerization, even Chicago, Tokyo, Sydney, all are
seconds away from you. Internet has turned distance into time, and we have turned
your account into a shear pleasure. Now sitting at home, or at office or anywhere in
the world, we offer you a wide spectrum of world-class electronic services and
banking products each time you log in. Use your account like a regular account plus
use the premium Internet & Mobile banking services for Instant Fund Transfers,
Instant Shopping, Instant Bill payments, Instant Mobile top ups, Alerts, Statements
and much more. You love surfing, come surf with UBL.
UBL Profit COD
Make fix investment with us, choose your profit option, and we will serve you the
best rates in Pakistan. What if you earn at 16.25% p.a. Stop imagining, come invest in
our Certificates of Deposit! At maturity, we offer you the following rates:
8.25%
6 months
8.50%
1 year
9.50%
2 years
11.50%
3 years
12.75%
4 years
13.25%
5 years
13.75%
6 years
14.25%
7 years
14.75%
8 years
15.25%
9 years
15.75%
10 years
16.25%
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Complementary Services
Insurance Certificate
UBL not only cares about you, we care about those too who are dependent upon
you. So UBL now offers enhanced Free Accidental and Disability Insurance Certificate
coverage to all existing and new account holders.
Closing Balance at month end
(PKR)
1 10,000
100,000
10,001 100,000
250,000
100,001 500,000
500,000
1,000,000
Primary Supplementary
ATM
Debit Card Funds Transfer
Funds Transfer
(From
UBL
to
UBL)
(From
UBL to other
Withdrawal
Spend
banks)
Gold
500
250
40,000
100,000
250,000
250,000
Silver
300
150
20,000
50,000
250,000
250,000
Your finger tips might have not been that powerful before. Just type in commands
and at your ease, buy mobile cards and pay your utility bills. With UBL Orion Mobile
Wallet, running around for mobile cards and queuing to pay your utility Bills is no longer
a part of your life. Live your life at your finger tips.
UBL Net banking
UBL is very much determinant to make banking as you will. How about being in
office, or on your way, at home or at anywhere in the world but still connected to your
account! Through UBL NetBanking, Access your accounts any time, pay anyone you
want, pay your bills, buy vouchers you need and get account alerts, all integrated with
one of the best security systems in the world.
Humrah
Humrah is your secured cash, something thats safe anywhere and accepted everywhere. Offered in the denominations of 10,000 and 5,000, "Hamrah" Rupee Traveller
Cheques are the ideal and safest way of carrying cash when travelling anywhere in
Pakistan. Let it be business; property; trade or personal needs; we make you have the
most convenient option. Moreover, Humrah RTC's are now accepted at more than 2000
places such as hotels, shops, real estate agents, jewelers, car dealers, etc and of course at
all our UBL branches.
UBL e-statement:
During your busy hours, you dont have to bother about visiting us to get your
account statement. Neither theres a risk of anyone else knowing your account details.
Subscribe today, free of cost to UBL e-statement facility and let us share details with you
daily, weekly, monthly, quarter or semi-annually. Get debit/credit alerts and know as soon
as you get money or pay off.
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My learnings
Standing on the forth floor of UBL Islamabad head office, I heard the good news
of me having a six week opportunity to interact with a world class bank. All these six
weeks were full of events, full of learning and most importantly full of professional
working. Here 'professional' regards in all from clerical to managerial work. In these six
weeks period, the best thing to me was the authority and dependency of customers upon
me, when they come with a hope that I'm there to guide them through. Knowing all is not
learning, the real learning is to convey right. I tried to learn real, see real UBL, and tried
to comprehend the difference between what we look from outside and what is going on
inside.
UBL is full of experienced and professional traditional bankers. As it perfectly
suit the environment we are operating in, You attitude has helped UBL in capturing
masses. In the private sector, no doubt its a fast growing bank, but here's something that's
still unrealistic to the policy makers. The line of unsatisfied customers is increasing, not
because we are not serving well, it's because customers are not understanding the YOU
attitude right. Every customer wants to make sure his work is done at the first
convenience, but they are not concerned about the responsibility with which every
employee is working. We need to put in some guidelines for our customers, as they walk
in. This will not only save their time but will also motivate staff members to work more
promptly, because if customer and employee engage into some unhealthy quarrel, the
whole environment will be disturbed.
Back to my real learnings. In my six week internship, I worked in customer
service department, as well as in clearing department. Because of some work load, I was
unable to learn much about other cash and accounting department. Here is my count
down learning of six weeks.
Account Opening:
Penning down information and keying it into the system does seem a simple and
tedious job but it is not. My initial five days at customer service department was the
liveliest experience of my internship. Though physically I was there just to assist the
account opening officer, but it turned out to be much more for me. That is when I first
actually imitated as a presenter of UBL to customers, when to many people, I'm their
hope.
UBL offers a variety of options for anyone; to everyone. You are an investor,
regular businessman, middle man, salaried person or a house wife; UBL serve you in
every way it can through its commendable and reliable services, because at UBL, YOU
come first.
Working at Customer Service Department, I did counter with different types of
customer and opened their accounts under the supervision of the officer. When you have
the sole responsibility to open the accounts, it's always very important to understand the
needs of your customer. Understanding the psyche of customer is very important. Until
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and unless you're completely satisfied that the customer has genuine reason and need to
open the account, don't do so.
Account Opening Form:
In all the documentation within the bank, clearness and tidiness are the major
features. Over writing and cutting should always be avoided as it may lead to any
misinterpretation. Account Opening Form is the most important documentation when a
customer walks in for commercial banking and wants to develop a relationship with us.
In AOF, all the necessary information should be completely scrutinized before the
customer walks back. Now lets look at some of the salient requirements of AOF and
their importance.
Currency and Type of Account
It offers you all the eight different types of accounts mentioned before. First
understand why the customer is here and what type of account suits him a lot. Scale down
all the options suiting his investment or requirement and help him choose what is best for
him. Outline all the salient features of that particular account to him and make him tick
the best box.
Mark the currency box if the customer wishes to deposit in currency, in case,
other than PKR.
Nature of Account
Understand and choose the desired nature of account.
Individual Account (Single/Joint) determines if the account is personal or joint. Once
again understand your customer here. Illiterate and gullible customers should better opt
for joint account for their own security.
Particulars of Account
First of all the title of account is entered by which it will be called off.
Following is the Key/Secret Word of six characters which is mostly preferred to
be mothers name because its simple unforgettable. Key word is used to verify
the customer on phone or while other subsequent inquiries. Next comes the
mailing address; where the bank should mail anything it has to. Next is the
permanent address of the customer which should be copied from the CNIC of the
customer. E-mail address is mandatory for Net banking and e-statement facility
whereas Mobile number for mobile banking. Lastly its your choice to hold your
statements for collection or mail it to you.
*Here make sure mandatory fields are entered and any valid contact
number must be provided.
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Personal Information
Following portion summarizes social with standing of a person.
Applicants name, Fathers or husbands name, gender, marital status, Date of
birth, nationality, country of residence and identification source and its number
should be enter. Make sure the source of identification is not expired. Enter NTN
if available. Know the occupation of the applicant and check the respected box.
In case there is more than one account applicant, fill in all the above
mentioned information for other applicant as well.
*Its a good practice to ask for the original identification source of the
customer and pen down the number and expiry date directly from it.
Next of Kin
In case if the account holder is somehow not contacted, this portion
provides information of the person who should be contacted instead. Persons
name, relationship, address and Telephone number should be provided.
Business Account determines that the party has its own entity under which the account
will be supervised. Match the respected category and check the box.
Particulars of Account
Here the information about the business is filled in. Title of account,
company/business name, and nature of business, office/mailing address, head
office /registered address, office email and NTN are mandatory information
required for business account. CNIC is required in case of sole proprietor ship and
information of few persons are required who can be contacted in case of
companies. Here we need to know that who will be operating the company
accounts.
Additional Information
Existing relationship with UBL
In case if the customer already has some relationship with UBL, it should
be mentioned here. This is just in case to formally know and cross check the
customers provided information.
Existing relationship with other banks
This is to know what relationship the customer has with other banks, if
any.
UBL Wallet ATM/Debit Card
Here first define your customer what ATM card is, what are its features
and what is the difference between its different options. Enter the name of the
customer in Name on card field. Then is the option of supplementary ATM card.
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Clearing of cheques:
Outward Clearing
My experience at C.C S.Town branch started from the clearing
department. Right in the morning cheques collected from the drop box simply
flood over my table. According to all I learnt through listening, viewing and
questioning is summarized below.
Documentation of Consumer Cheques:
All the cheques collected are first categorized into
o
o
o
o
Credit Cards
Auto Loans
Personal Loans
Cash Line
Having categorized, firstly loan number of each cheque is verified. For the
verification of the prescribed loan number, following ledgers are credited
Credit Cards
Personal Loans
Auto Loans
Cash Line
G3540223
G3540627
G3540601
G5610014 (Head Office)
Verified cheques are then validated before being documented into the drop box
collection sheet for our daily drop box collections record. To anticipate the
approval of cheques, we need to validate some important specifications of all the
cheques. They are:
All the filtered cheques are then entered into the collection sheet in which
following information is entered.
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Cheque No.
Name of bank
Name of Customer
Loan No.
Amount
Document No.
All the documented consumer cheques are then posted into the system.
Posting of the Consumer Cheques
For clearing, we opt for second option in Banking category, and after entering the
posting date, clearing date and transfer delivery date, we opt for single entry
option. Now all the cheques are credited in the clearing schedule in their
prescribed ledgers.
Credit Cards
Personal Loans
Auto Loans
Cash Line
G3540223
G3540627
G3540601
G3590991 (Miscellaneous)
Cheque Number
Amount
Auto Loans Cheques: G3540601
During the posting, following fields are keyed in
Debit/Credit
Account Number
Bank
Branch
Transaction Type (Loan Repayment)
Auto Loan Number
Cheque Number
Amount
Cash Line Cheques: G3590991 (Miscellaneous)
During the posting, following fields are keyed in
Debit/Credit
Account Number
Bank
Branch
Cheque Number
Amount
Cash Line Cheques are posted into Miscellaneous Sundry account when
they are forwarded for clearing and, on clearance; they are transferred to
head office (G5610014; Tr # 60) where all those cheques are credited to
their respective accounts.
Customer Accounts:
During the posting, following fields are keyed in
Debit/Credit
Account Number
Bank
Branch
Cheque Number
Amount
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After entering the details into the system, we can accept, modify and reject
it. As soon as entry is accepted, computer generated document number is
assigned.
* In case further modification is required, it can be done at clearing
modification option under clearing schedule.
Following the completion of posting of cheques, an add list is prepared to
calculate the total amount of cheques which is further cross-checked with the
clearing display on the system. As cheques can be either of Rawalpindi or
Islamabad, so separate add lists are prepared and enclosed with the cheques in the
NIFT envelopes.
In other case, if cheque is of city other than Rawalpindi and Islamabad, it's
either sent in intercity clearing or as OBC (Outward Bill Collection). Intercity is
presented through NIFT whereas OBC is either sent through Courier or
Dispatched to the desired branch of the bank.
Stamps in each case is as follows
Types of cheques
Endorsement
Local - Consumer
Crossing
Clearing
Received Payment
Local Commercial
Crossing
Clearing
Intercity
Crossing
Clearing
Intercity Clearing
Crossing
OBC Number
OBC
Cleared Cheques
Now the next day when clearing is confirmed by NIFT, respected accounts are
debited. We go into the banking option and in transfer, we debit all the respected
accounts. Same is the case with intercity and OBC cheques.
In documentation, debit and credit vouchers are made, which show total amount
of clearing as per day.
Returned Cheques
All the cheques which are returned, due to any reason, are then reversed. They are
debited back in the clearing schedule. All the returned cheques are documented in the
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cheque return registers and all the account holders of returned cheques are charged with
service penalty.
*All the vouchers are signed by the designated officer and all the entries over
50,000 are supervised
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Remittances:
Demand Draft
DDs are always a secure way of paying remittances in other cities. Both
account holders and walk in customers can avail the facility of DDs. Charges tend
to differ for both customers but the advantage tend to be same. DDs are made in
the favour of beneficiary and remitter either pays in cash or through cheque.
Charges for DDs are
Up to Rs. 100,000/-
Issuance of duplicate DD
When DDs are issued, head office account are debited and remitters
account is credited, on presentation, head office account is credited and
beneficiary's account is debited.
Pay Order
POs are another safe way of paying your remittances within the city. They
are payable at any branch and then are forwarded for clearing. There charges are
Issuance of PO
Cancellation of PO
Issuance of duplicate PO
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