Procedure of Account opening

Prepared by : Sanju kharel &

Saraswati Rawal
 Procedure of Account Opening

1. Any individual capable to enter into a contract

can open accounts with the bank.
2. Lunatics’ insolvents, drunkards cannot enter
into the contracts.
3. Illiterate persons, blind trustee can open a
accounts but special attention should be paid
to customers.
4. Likewise, bank open accounts in the name of
minors but they have to be operated by
guardians till “minors turn into majors”.
 Most of the banks follow following standard account
opening procedures in Nepalese Context:

Filling up various forms

Following compulsory forms are to be filled first by applicant to

operate any new accounts:
1. Fill up account opening forms
2. Fill up KYC form
3. Fill up CDD form
4. Fill up E-CDD form
•VERIFY APPLICATION FORM
•ACUITY ONLINE COMPLIANCE TEST
•GENERATION OF ACCOUNT NUMBER
•PROVIDING DEPOSIT BI-PRODUCTS
 ELIGIBILITY FOR ACCOUNT OPENING
• According to context law of Nepal, Lunatics,drunkards,insolvent are
considered as ineligible for any contract and they should not be
allowed to open account in the bank.
• Minors are not allowed to open account independently .But with the
help of parents or guardian the account of minors can be opened and
run by parents and guardian before adult.
• All bank accounts need the name and details of nominess.In case of
demise of accountholder ,the nominee gets the right to claim and
receive the amount of that particular account.
• Bank will provide printed statement on demand of customers. The
information in the statement included are date of transaction,
effective date, cheque number, transaction amount ,interest,
taxes,fees,balance etc.
•Customer must maintain certain minimum balance in savings
account to get cheque facility.
•Bank should not disclose anything regarding status of account to
unauthorized ones.
•Payee must count and confirm the amount received from the cash
counter with in the bank premises . Bank may not be liable for any
shortfall of amount if customer claims from elsewhere.
 Type and structure of charge
• Any branch banking service (ABBS) charge :transferring
deposit from one branch of bank to another branch.
• Deposit by –product charge: mobile banking service
,internet banking service,online payment service.
• Good for payment charge :charge taken for making
guaranteed cheque by bank.
• Balance certificate issuance charge
• Statement printing charge
• Others :debit card issuance charge,draft issuance
charge,managers cheque issuance charge, remitting
charge
Thank You