steps in opening a bank account

6. Operation of the Account by an Agent:

 

In case an account of a person is to be operated upon by an agent, a mandate is obtained from the customer.  The banker also takes the agent’s specimen signature.  It should be noted that power to draw and endorse cheques does not include power to accept bills or to overdraw the account.  For this, a special authorization should be given.

 

 

 

 

 

 

BANKING by Mrs. R. JEYALAKSHMI