Banker customer relationship
Customer relationship management in banking sector-what more needed abstract customer relationship management has become inevitable for growth and profitability of banks in present scenario marked by rising competition, technological advancement and empowered customers. Law of banking and security dr zulkifli hasan 27th september 2011 week iii contents the banker -customer relationship definition of ’banker ’ and ’customer ’ nature of banker -customer relationship agent & principal relationship fiduciary relat ionship debtor -creditor relationship constructive trustee and beneficiary relationship. The relationship between a banker and a customer depends on the type of transaction products or services offered by bank to its customers the legal relationship between a bank and its customer differs in several important respects from the relationships between most other service providers. A relationship banker is an employee of a bank or other lending institution that is responsible for dealing with customers on a one-on-one basis.
Obligations of bankers towards customers the relationship that arises between banker and customer, in conducting, various businesses involve certain obligations and rights on the banker as well as the customer. Banker customer relationship relationship between a banker and customer comes into existence when the banker agrees to open an account in the name of customer the relationship between bank and customer is based on simple contract. The relationship between a banker and a customer depends on the activities products or services provided by bank to its customers or availed by the customer thus the relationship between a banker and customer is the transactional relationship. The relationship arises between a banker and a customer with the opening of an account by the customer with a banker the application for opening an account is considered as a letter of agreement for establishing the banker-customer relationship.
The bank on the one hand and the customer on the other hand the word bank and banker and to an extent banking business will be used to mean bank. Banker customer relationship who is a banker bank/banker/banking company is an organization which essentially performs the two functions: accept deposit from public( the deposit being repayable on demand or otherwise and withdrawal by cheque , draft order or otherwise. Banker-customer relationship begins no sooner the customer opens an account and a banking service is transacted a remarkable feature of this relationship is its attendant legal rights and obligations on both sides. Cultivating the customer relationship in banking 1 cultivating the customer relationship in banking europe’s retail banking market could capture service and customer compre-hension the bank is able to target customers with offers and prices, and actively approach them with local deals.
The bank agrees to promptly collect the cheques deposited to the customer's account as the customer's agent, and to credit the proceeds to the customer's account the bank has a right to combine the customer's accounts, since each account is just an aspect of the same credit relationship. 24 definition of a banker and a bank customer the law of banking is the law of the relationship between a banker and his customers in essence, the nigerian law of banking focuses on participants in the banking industry namely the banker and the customer. Blery e, michalakopoulos m (2006) customer relationship management-a case study of a greek bank journal of financial services marketing 11: 116-124 trubik e, smith m (2000) developing a model of customer defection in the australian banking industry. There are various forms of banker customer relationship depending upon the services availed by the customer from bank like debtor-creditor, agent-principal, licensor(lessor)-licensee (lessee), bailor-bailee, trustee-beneficiary, pledger-pledgee, assignor-assignee, hypothecation-hypothecatee are various forms of relationships between banker and customer.
Banker customer relationship
The relationship between a banker and a customer arises from a contract fundamentally speaking, it is the relationship of debtor and creditor, the respective positions being determined by the state of the account. Closing of a bank account – termination of banker-customer relationship : banker-customer relationship is a contractual relationship between two parties and it may be terminated by either party on voluntary basis or involuntarily by the process of law. Banker and customer relationship definition according to sec 5(c) of the banking regulation act 1949, a banker is a person who undertakes business of banking banking means accepting deposits from public, for the purpose of lending, repayable on demand or otherwise with drawable by cheque. Banker, the relationship created is that of trustee (banker) and beneficiary (customer) let us discuss the different relationships between the banker and the customer in detail.
- Explain the legal relationship between bank and customer the banker/customer relationship the relationship between bank and customer arises from a legal contract between them these are the main types of relationship which may exist between bank and customer: receivable/payable relationship.
- The banker-customer relation the relationship between the b between them this contract is cr and its customer is a loan contrac owes him that money and vice v between banker and customer is act, 1881 and the contract act, vital the relationship starts righ immediately on closure of the acc.
Takes ownership of customer experience, rotates between the teller line and platform, and accompanies customer through the entire office visit provides a consistently superior level of customer service for customers and prospects. The relationship between a banker and a customer is that of debtor and creditor in respect of the money deposited with the banker by the customer this position becomes clearer when a customer asks for his money if the amount is not paid, the customer can sue the bank the. Bank/customer relationship there are no statutory provisions in this area liabilities of the bank to the customer the bank must obey the terms of the bank mandate this is a document setting out what the bank will do for its customers in relation to the account if they do not obey the terms, they have breached the contract and are liable. The relationship between a banker and a customer depends on the activities, products or services provided by the bank to its customers thus the relationship between a banker and its customers is a transactional relationship.