What is the relationship between banker and customer? (2024)

What is the relationship between banker and customer?

Banker-Customer Relationship:

What is the relationship between a banker and a customer in case of safe deposit locker?

According to the Union Bank of India website, “ The relationship between the bank and the locker holder is that of Licensor and Licensee. Underlying facility is an agreement between the Bank (licensor) and the customer (Licensee) allowing use of the former's locker by the latter.

What is customer relationship in banking industry?

Customer Relationship Management concept is tendency of banking sector to establish and maintain long-term relationships with customers in order to provide value for customers and banks. This concept allows bank to identify, segment, communicate and build long-term relationships with customers on individual basis.

How can the relationship between banker and customer be terminated?

2.4 Termination of the relationship

The bank-customer relationship, being a contractual bond, may terminate via agreement or consent, notice of termination, death or dissolution of one of the parties, sequestration, insanity of the customer, and the natural effluxion of time.

What is the relationship between a banker and a customer Mcq?

The relationship between the banker and the customer is therefore that of a creditor and a debtor.

What is the relationship between locker hirer and banker?

ii) The relationship between the banker and the customer of a locker is that of lessor and lessee. 2. Eligibility: i) Bank's lockers will be hired to Individual singly and / or two or more individuals jointly as well as Firms, Limited Companies, Societies, Associations, Clubs, Trusts, etc.

What is the relationship between banker and customer when the customer opens deposit account?

Debtor - Creditor Relationship: On the opening of an account, the banker assumes the position of a debtor. The money deposited by the customer with the banker is in legal terms, lent by the customer to the banker, who makes use of the same according to his discretion.

What is the role of a customer relationship officer in a bank?

Role Description

The Customer Relationship Officer will be responsible for building strong relationships with customers, ensuring customer satisfaction, and identifying potential areas for growth in customer accounts.

What are the rights of a Banker?

However, some general rights that bankers typically have include: The right to charge interest and fees. Bankers have the right to charge interest on loans and other forms of credit, as well as fees for services such as account maintenance, wire transfers, and check processing. The right to set off customer accounts.

Can a bank terminate relationship?

Short answer: yes! Banks may unilaterally terminate the bank-and-customer relationship or close a customer's account.

Which customer relationship a business should terminate?

Customers with needs that are beyond the capabilities and focus of your business should be terminated. 2. The customer's behavior is too troublesome for you to handle.

What is relationship termination?

Relationship termination, the voluntary or involuntary ending of relationships is an area of difficulty for many people. Because we invest ourselves in order to enter into the relationship to end it seems can have painful consequences such as feelings of grief, disturbed self esteem and self confidence.

Which of the following is most important relationship between banker and customer?

Explanation: A) Debtor and Creditor is the correct response. A banker's relationship with a customer is primarily one between a debtor and a creditor.

Who is lunatic in banking?

The banker should obtain a Certificate of Sanity from a competent authority after which such a person is allowed to operate on the account. Lunatics are the people who are unsound in mind. They are incapable of entering into valid contracts. Hence, a banker cannot open an account in the name of lunatic.

What is the relationship when a person has raised loan from a bank?

When bank lends money to customer then bank becomes Creditor and customer who receives money becomes Debtor. So, lending of money creates Creditor and Debtor relationship between bank and the customer. While lending home loan banks generally takes some assets or security with the banks in order to give loan.

What is the primary relationship between a Banker and a customer starts from?

The relationship between bank-customer becomes that of creditor-debtor, when customer has borrowed money from the bank by way of OD(Overdraft), CC(Cash credit), Demand loan, Term loan, Bills discount or any other kind of loan or advance, either on secured or unsecured basis.

What is the relationship of Banker and customer as bailor and bailee?

In the context of Law of bailment, the customer is the bailor and the bank is the bailee. The law of bailment is defined under Sec. 148 of the Indian Contract Act. The person who delivers the good is known as the bailor and the person to whom the goods are delivered is known as the bailee.

What is general relationship?

General relationship: All other relationships fall into this category; i.e., a general relationship is one in which the min-max cardinalities of a participating entity is neither (1,1) nor (0,1), as shown in Figure 4. ... Context 2.

What are the three 3 types of checking accounts you can open?

Who is a banker in simple words?

The banker is a person who: (1) accepts money from, and collects cheques for, his customers and places them to his credit; (2) honours cheques or orders drawn on him by his customers when presented for payment and debits his customers accordingly; and (3) keeps current accounts in his books in which the credits and ...

What is bank customer responsibility?

Responsibilities of Customers

immediately inform the bank whenever a forgery is discovered in the operation of the account.have sufficient funds in the account or leeway in an overdraft limit to meet cheques drawn. use cheque cards or cash cards only in accordance with their conditions of use.

What is the highest salary for a customer relationship officer?

Customer Relationship Officer salary in India ranges between ₹ 1.4 Lakhs to ₹ 5.0 Lakhs with an average annual salary of ₹ 3.0 Lakhs. Salary estimates are based on 3.8k latest salaries received from Customer Relationship Officers.

What is one of the main responsibilities of a banker?

A banker's primary responsibility is aiding clients in making critical financial decisions such as saving for the future or investing in a business. If you enjoy meeting and interacting with new people daily or have a unique attraction to finance or business, banking jobs are excellent.

What is the difference between a banker and a customer?

The bank and customer are two di erent terms that are related to the bank. The person doing the banking business is called a banker and the person who is connected with the bank, either depositing his money or taking a loan from the bank is called a bank customer.

Which principles are most important for a banker?