How An Account Is Opened With A Bank?

Usually all concerns except a few small ones, open an account with a bank. Opening an account with a bank means that a sum of money is kept deposited with a bank and that money can be withdrawn by a cheque at any time as and when required. There are three types of account that may be opened with a bank;
1) PLS Saving Account
2) Current Account
3) Fixed Deposit Account

Most of the concerns open current account with the bank, because there is no restriction as to the number and amount of withdrawals of money like PLS saving account. In other words, if current account is kept with a bank, the depositor (account holder) can withdraw the money at his will up to the limit of his deposits with the bank. Generally no interest is allowed on deposit with the bank under current account.

To open an account the depositor will have to apply to the bank in the prescribed form and deposit a sum of money. Immediately the bank will open an account in the name of the depositor in his Ledger and credit it with the amount of deposit. Thereafter, the bank will give the depositor the following three books:

Pass Book
Paying-In-Slip Book
Cheque Book
Thus money can be deposited into the bank by means of paying-in-slip and withdrawn by means of a cheque. A cheque may be issued to a creditor instead of paying him cash. On the other hand, we may also receive cheque from out debtors instead of cash.

If you want to open an account in a bank,then go to any branch of the bank and tell them that you want to open an account in their bank.They will provide you the form,which you have to fill it and return it with a copy of your national identity card.You have to deposit some money in order to open an account in the bank.This is the procedure.