Following are the major kinds of bank’s customer.
- Individual Customer
- Joint Customer
- Business Organizations
- Non-Trading Concerns
- Government Organization
1. Individual Customer:
Any person literate or illiterate but not a lunatic, mental patient, drug addict or bankrupt etc. can open an account with bank. The bank demands a photograph from an illiterate person and he also requires thumb expression on all necessary documents whereas the literate person requires signature only.
(a) Married Woman: A married woman can open a bank account and can avail all the facilities provided by the bank like man. But she is bound to write the name of her husband and his source of income at the time of opening a bank account.
(b) Minor Customer: Any person whose age is below 18 years is considered as minor and can open a bank account by depositing the required amount and can draw cheques to operate his/her account.
2. Joint Customer:
When two or more than two persons jointly open an account with a bank then they are known as joint customer. Under joint account, any one of the account holders or all of them jointly operates the bank account.
Trustee is a person (party) who takes care of the affairs or looks after the property on the behalf of another person (party). If a trustee wants to open an account with bank then he has to provide a trust deed to the bank, otherwise the bank does not provide account facility to him.
4. Business Organizations:
It is essential for every business undertaking to open a bank account. The business enterprises mostly open current accounts:
(a) Sole Proprietorship: In sole proprietorship, the proprietor is the sole owner of the business. Bank account is opened in the name of business and operated by the proprietor.
(b) Partnership: The partners of business may also open a bank account in the name of firm not in their own names. The account is operated according to the partnership deed. Usually, one of the partners or two or more of them jointly are empowered to operate the bank account.
(c) Joint Stock Company: Joint Stock Company also opens a bank account in its own name, because all the dealings of a J.S.C. take place through banks. A director or other officials of the company as per provisions of the Articles of Association operate the account.
5. Non-trading Concerns:
Club, societies and associations etc. incorporated for some specific purpose may be termed as non-trading concerns. These non-trading organizations also have bank account. The account is operated by the persons or person approved under the provisions of the constitution or by-laws of the concern. For example, Edhi Welfare Trust and MKRF etc.
6. Semi Government Organizations and Local Bodies:
Semi Government organizations in Pakistan like WAPDA, KDA, KESC etc. and local bodies like Karachi Metropolitan Corporation, District Council also keep bank accounts. Officials of organization as per rules and regulations operate these accounts. Status of such account is like the status of an individual customer’s account. Therefore, all the facilities enjoyed by an individual customer, a government institution can also avail.