Wednesday, 10 October 2012

Banking Institutions - How They Work


Banking is a financial institute where great job of money get form. Sustainable employment, noteworthy accuracy and civility are the key features of banking employee's personality. How they manage? Work System in banking is so simplified for their workers that they remain gentle and calm during their sift. Let us try to understand the work system of banking institutions by studying separate department of job -
·         Depositary Department - The bank spreads its branches in whole nation or worldwide according to need and work. In every branch every kind of work has been dividing to employees. Depositary section has two divisions - cash deposit and check deposit -
§   Cash deposit - In this procedure first customer fill a printed slip with all necessary details of a/c, cash and depositor. After that he hands over the cash with this depositary slip to cashier who gives him a receipt of depositing the money as cash. Cashier credit customers a/c and gives money to superior authorities of bank.
§  Check deposit - For this customer attaches depository slip with the check and deliver it to banker who credit customers a/c and pass the check for clearing. In clearing section they give the checks to drawer banks collect the cash.
·         Withdrawal Department - As people deposit their money in other way they withdraw it time to time. The process of withdrawing is little different from deposit.
§  Cash withdrawal - you need to fill up a withdraw slip and give it to bank person and he will give you a token and you need to wait for sometimes. After a few minutes he will call your token no. and then you can collect your money.
§  Check withdrawal - Here is the same process and you can collect money by filling up slip and attaching this with check.
·         Loan Department - Loan is the major earning source of banking institutions. You can get the loan by showing repayment ability to bank. Bank will decide with a procedure if someone is eligible to receive the loan. Bank sends its employee to probe ones information provided in the application. After a long but finished in short time process bank gives loan to customer on high interest rate.
·         Customer Support - A separate counter every branch of bank have in it for Customer Care. If you want your a/c statement, check clearing related or any other information, you can visit here. If you are a dominant customer for bank then bank provide a relationship manager to hear from you.
·         Complains - Bank tries its best to make happy its customers but still if you have any complain in regarding to banking services or want give any suggestion to improve services, you can visit the Complain and Advice Department.

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