Scribd Logo
Upload

Welcome to Scribd!

  • 79 views

    Internship Report On: Presented To: The Manager Soneri Bank Chungi Amer Sidhu Branch

    Uploaded by

    Usman Dudez
    The document is an internship report submitted by Saima Safdar describing her learning experience in the account opening department of Soneri Bank. She provides details on the types of accounts that can be opened, the account opening procedure, and requirements. She also describes the bank's processes for remittances like pay orders and demand drafts, as well as inward and outward clearing of checks and other financial instruments.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd

    Internship Report On: Presented To: The Manager Soneri Bank Chungi Amer Sidhu Branch

    Uploaded by

    Usman Dudez
    79 views4 pages
    The document is an internship report submitted by Saima Safdar describing her learning experience in the account opening department of Soneri Bank. She provides details on the types of accounts that can be opened, the account opening procedure, and requirements. She also describes the bank's processes for remittances like pay orders and demand drafts, as well as inward and outward clearing of checks and other financial instruments.

    Original Title

    Report on Sbl

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document is an internship report submitted by Saima Safdar describing her learning experience in the account opening department of Soneri Bank. She provides details on the types of accounts that can be opened, the account opening procedure, and requirements. She also describes the bank's processes for remittances like pay orders and demand drafts, as well as inward and outward clearing of checks and other financial instruments.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    79 views4 pages

    Internship Report On: Presented To: The Manager Soneri Bank Chungi Amer Sidhu Branch

    Uploaded by

    Usman Dudez
    The document is an internship report submitted by Saima Safdar describing her learning experience in the account opening department of Soneri Bank. She provides details on the types of accounts that can be opened, the account opening procedure, and requirements. She also describes the bank's processes for remittances like pay orders and demand drafts, as well as inward and outward clearing of checks and other financial instruments.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    You are on page 1of 4

    Internship report

    on

    Presented To:

    The Manager

    Soneri Bank Chungi Amer Sidhu Branch

    Presented By:

    Saima Safdar

    8th Semester

    B.Com Hons 2006-2010

    Hailay College of Commerce


    Learning as an Internee

    Account Opening

    In this department, I gain the practical knowledge about opening account. This
    department deals with opening of different accounts for its customers and all
    matters regarding thereof. The customers opening accounts can be
    categorized as following:

     Individual (single/joint)
     Partnership (registered/unregistered)
     Limited Company (public/private)
     Trust
     Association, Club and Societies
     Sole Proprietorship
     Government Institution(federal/provincial)

    Procedure for Opening an Account

     First of all the officer asks some questions from the customer about his
    occupation to know the source of income and which kind of account he
    likes to open. Then account opening form is provided to the customer
    by the officer and the customer is required to provide his full
    information and information of Kin and introducer.
     Introducer may be the account holder of the same branch or any other
    branch of the bank. Without the information of introducer the account
    will not be opened.
     Customer is required to write an application for opening an account.
    Customer's CNIC is viewed by the officer during filling of the form and
    copy of CNIC is attached with a form.
     Customer is required to sign on various places of form as well on
    specimen card which would be used to verify the signatures of
    customer in case of deposit as well as in case of withdrawal.
     In case of illiterate customers, CD50 form is filled according to which all
    the cheques must be signed in the presence of the officer.
     Customer's CNIC is sent for the verification to NADRA.
     Then the related officer signs the form to conform that all requirements
    of opening an account has been fulfilled.
     After that letter of thanks is issued to the customer and introducer.
     Then after that cheque book is issued to the customer to operate the
    account.
    Requirements for opening an account:
     Copy of CNIC
     NADRA verification
     Introducer
     Electricity bill or any utility bill
     World check.
     KYC (know your customer) profile. It is the requirement of SBP.
     In case of salaried person, salary certificate is required. If the customer
    is sole proprietor then letter pad and stamp is required.
     In case of partnership, attested photocopy of CNIC of all partners,
    attested copy of partnership deed duly signed by all partners, attested
    copy of registration certificate and authority letter is required.

    Following codes are assigned to different type of accounts.

    Basic banking account 0205


    Current account 0201
    Profit and loss sharing account 0101
    Soneri savings 0102

    Remittances

     Pay order

    Pay orders are used to make payment or transfer money, with in the same
    city. Pay order is always drawn on the bank that has issued it. Applicant fills
    an application form, which is general credit voucher and tells the name of
    person in whom favour it is to be drawn and the amount of pay order is to be
    stated. Certain amount of commission and advance tax is charged on
    issuance of pay order.
    When pay order is issued, cash department debits cash account and pay
    order issued account is credited and when the pay order is presented in
    Inward clearing pay order issued is debited and clearing/TD/TR is credited.

     Demand Draft

    Demand draft is used to make outstation payments or to transfer money, out


    of city. Therefore, a demand draft is always made for a particular city. When a
    customer request his banker to provide him a Demand draft made on his
    account for a particular city like Faisalabad. then, after having the total
    amount (including commission and advance tax) to be deposited with
    application form ,demand draft is issued in favor of the specified person in
    Faisalabad (supposed) and is drawn on Soneri Faisalabad Branch.
    When Soneri bank issued a demand draft drawn on Soneri Faisalabad branch
    then an IBCA with demand draft advice is send to Faisalabad. Upon receipt of
    advice in Faisalabad branch they will credit Demand draft. Demand draft
    payable a/c is debit in Faisalabad branch when DD is presented in inward
    clearing.

    Clearing

     Inward Clearing

    Cheques and other negotiable instrument (PO, DD, PS, CDR etc) drawn and
    sent by other banks, constitute of inward clearing of soneri. After having all
    the stamps and dates of cheques confirmed, the concerned drawer’s account
    is debited (soneri) and main branch’s account is credited by the total amounts.
    In case of cheques dishonored (returned) due to some deficiencies, the main
    branch’s account is debited by the amount of cheques returned.

     Outward Clearing

    When cheques and other negotiable instrument drawn upon other banks
    like MCB,ABN AMRO ,of the same city are presented in the bank to deposit
    them in the Respective payee’s account, these instruments are lodged in
    outward clearing(o/w clearing) of Soneri bank Ltd.

    There are three stamps on face of cheque.

     Special crossing
     Clearing stamp
     Discharge stamp

    Some of the cheques lodged in outward clearing are dishonored by the


    concerned branches due to some deficiencies returned back through NIFT,
    this process is carried out under Main branch governance.

    You might also like