Deposit Department of Bank Alfalah
by Current accounts are those, which let the client handle the day-to-day expanses efficiently by allowing drawing cheques against the available balance within the business hours. It can be further classified as Individual Account and Joint Account.
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Deposit Department
In line with the “Client First” philosophy, Bank Alfalah offers a wide range of deposits to cater to the specific needs of various business segments classified as follows:
Transacting Accounts
- Current Account
- Saving Account
Non-Transacting Accounts
- Term Deposits
- Call Deposits
The detail of these is as follows
- Current Account
Current accounts are those, which let the client handle the day-to-day expanses efficiently by allowing drawing cheques against the available balance within the business hours. It can be further classified as Individual Account and Joint Account.
- Individual Current Account: – Individual Account is opened by a single customer, only he can operate the Account, but he can authorize another person to operate the Account, if he is not available, for this he will sign an authority letter.
- Joint Current Account: – If there are two or more customers who want to open Current Joint Account, so they will open a Joint Account. This Account may be operated: -
- Jointly by all partners
- Either or savoir
- Any one of the partner
o Partnership Current Account: – This account is opened with the Title of the Partnership. The Partners of the Partnership, who sign the Partnership deed, and who sign the Account Opening Form, only operate this account. They can give the Authority to the other partner.
Documents required
- Partnership deed
- NIC photocopy of all partners
- Partnership mandate
- Power of Attorney
Features of Current Account
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