Commercial Banks Control Of Customer

Commercial Banks Control Of Customer

Abstract

This design is aimed at chancing out how marketable banks control their guests accounts, which actually means the way the marketable banks guard their guests accounts and how they carry out their duties as the custodians of their guests accounts.

piecemeal from the study guard at looking of the general conditioning of the banks with respects to guests accounts this study more specifically involves chancing out the rules and procedures set down by these banks for the proper control of their guests accounts, the staff in charge of their guests accounts, the staff in charge of carrying them out in agreement with the programs and objects of the banks, and also with statutory regulation.

The experimenter excavated into all these in order to enlighten the guests, and any other individual reading this design on the extent to which the banks go so as to satisfy their guests. Also certain aspects of banking which have been misknew by people over the times were easily sorted out.

The information I attained in the cures of my jotting this design has helped me to established the face that marketable banks places a lot of emphasis on the good control of guests accounts, this is because these accounts make up the livewire of the actuality of these marketable banks.

Eventually, the findings were epitomized and later several suggestions and recommendation have been made to marketable banks in general so as to ameliorate the over all effectiveness and effectiveness of the control of their guests accounts.

Chapter One

Background Of Study

The control of client’s accounts by marketable banks dates back to a veritably long time and the birth can be said to be of a veritably humble nature. Long ahead there were any banks, people kept plutocrat and valuables with the goldsmith for safe guardianship because the goldsmith in those days were largely respectable members of the society who could be trusted because they had strong sets where they kept precious. As time went on, the goldsmith observed that the depositors demanded and thus collected only a little quantum of their plutocrat at any particular time.

The goldsmith also formulated a system thereby he’d control and guard the plutocrat deposited with him duly in such a way that while he traded with the depositors plutocrat, he’d enough cash to meet any depositors needs at any time, that is, this precisely designed system of control enabled the goldsmith to always insure that he was noway short of cash when any depositor demanded some or all of his plutocrat. This trend continued, but as the times went by, different changes passed until banks came into actuality.

According to the Oxford Advanced Learners Dictionary of Current English, a bank is an establishment for keeping plutocrat and valuables safely the plutocrat being paid out on the guests order. “ A marketable bank is described as a bank whose business includes the acceptance of deposits withdrawable by cheque.

In Nigeria, the Central Bank of Nigeria henceforth appertained to as “ CBN ” is the apex nonsupervisory authority of the fiscal system. The banking system of colorful countries vary vastly, still, they all tend towards the central banking system. The systems that are tendable in Nigeria fall into the following corridor CBN, Commercial Banks, Merchant Banks, Mortgage Banks, Community Banks, Urban Development Banks and a Peoples Bank. still, these distinction are simply apparent by their names. In terms of operations, this is because, they’ve long abandoned their traditional places and gone into finance distributive trade, but basically, their main business is to advance and adopt plutocrat.

Commercial Bank are veritably important in the frugality because without their operation business conditioning will be at a deadlock and normal deals will handicapped. These marketable banks are also the traditional “ department stores ” of finance, they serve a wide variety of saviors and those with requirements for discoveries.

marketable Banks are the center of focus in this design. In any marketable bank; the introductory exertion is the accounts kept by guests, this is to say that a marketable bank can not live without any client’s accounts so the proper control of these guests ’ regard is salutary to both the guests and the bankers. Control refers to the styles and mechanisms used to insure that behaviours and performance confirm to an associations objects plans and norms.

Apropos, the control of client’s accounts has a veritably high applicability to the growth of a marketable bank. Some bankers( especially the operation of some marketable banks) aren’t proper and effective control of guests accounts to the growth of the marketable banks, and as a result, they tend to lose guests, which affect the marketable banks negatively.

In view of all the forenamed the purpose of this design is to identify the styles of control of guests accounts used by marketable banks, and also to make recommendations and suggestions so as to meliorate the being problems and to ameliorate the overall control of guests accounts by marketable banks.

Statement Of The Problem

The livewire of marketable banks is the accounts of their guests keep with them. These guests make deposits into their colorful accounts as frequently as it’s possible. Hence, the significance of deposits can not be overemphasized this is because it’s a pivotal factor in determining the strength and capability of the marketable bank. It’s anticipated that the operation of marketable banks will insure that they erect a establishment, effective and acceptable control system over the guests accounts.

This study seek to address and explain how marketable banks control their guests accounts, the procedures used, the formalities that have to be experienced and the bank staff that are responsible for these jobs at the different stages. To achieve these in this design, the following will be sought.

The extent to which operation examiner and control those in charge of the operation of the guests accounts.

Which arm of operation is responsible for it control of guests accounts?

An disquisition into the problems which operation take over to insure that proper account entries are made for the sale each client makes on behalf of his account.

The processes that operation take over to insure proper and effective control of the client’s accounts.

Are there any rules and guideline laid out by the operation of marketable banks for the control and operation of the client’s accounts?

Could the processes the control of guests accounts suffer determine the profitability and viability of the marketable banks?

In summary, the most essential problem this study seeks to probe is the extent or degree to which the marketable banks understand have installed an acceptable system of control over client’s accounts as a means of satisfying the client and to guarantee their trust and constant patronage.

Objects Of Study

The main exploration objects of this design is to study the way marketable bank control the client’s accounts, more specifically, the ideal of this study are-

To find out the end of operation of the marketable bank responsible for the control of guests regard.

ii. To find out ways through which marketable banks generally operates their client’s account.

iii. To find out how the proper control of guests accounts contribute to the profitability of the marketable bank.

iv. To find out whether the staff undergoes proper training qualifying them to handle the account of guests.

To find out whether guests spend so important time in the banks.

Significance Of Study

It’s egregious that there’s no way the system of control of guests accounts in any marketable bank can be water light. But if operation set up a good and firm system of controlling guests regard it’ll be an necessary aid to effective operation in that it’ll insure the operation and staff incharge of the control of guests accounts that the rules laid down are rigorously stuck to. It also assures them that the objects of the banks will be achieved in future.

The significance of this study is that it’ll bring to light the significance of having an acceptable system of control of client’s accounts by marketable banks( especially the new strain banks). It’ll also show these banks some important conditioning, which they’ve taken for, granted in the control of client’s accounts and this may make them do their work more diligently. The recommendations made by the design pen, should be useful to the operation of some marketable banks because it’ll help them fill be circle holes present in their own styles of control of client’s accounts. As a result of this, they will be suitable to satisfy their living guests and as well be suitable to attract further guests.

These days, numerous banks are getting worried because of lack of proper control of their guests accounts and latterly dropped deposits and increased recessions by guests, this study, shows the proper processes of securing and controlling the client’s accounts and other suggestions with respects to this which these new strain banks can borrow. This study thus has a lot of significance to the banking assiduity. Other individual and holders of accounts in banks will profit from his study because they will now be suitable to understand the extent to which the banks go to take care of their plutocrat and accounts and they will also understand why spend so important time in the banks.

Also, scholars will profit from this study as they can read up some information they may seek in marketable banks and client’s accounts.

Eventually, the entire work will no dubieties be useful to other experimenters who would wish to conduct a exploration on the same content, and indeed for exploration in fields outside the compass covered, this exploration will serve as a useful source of background information.

Limitation Of Study

In the course of carrying out this exploration, the experimenter was faced with a number of problems, which include.

response of some canvassers Some of these canvassers replied negatively, in that, some would not answer the questions due to instruction given by their superior not to expose the banks internal operations, while some answered the questions veritably vaguely. So in certain aspects acceptable information wasn’t attained.

Finance The experimenter would have preferred to conduct the interview in numerous banks in certain countries across the country but due to high cost of transportation and accommodation, two banks both positioned in Enugu has to be used.

Time The available time was limited because the experimenter had to combine the exploration work with normal academic work.

Description Of Terms

We want to look at some terms applicable to the banking practice. These are the changes

Hole He’s the person who writes and signs the cheques.

generally he’s the current account holder or has agent.

ii. Drawee This is the banker on whom the cheque is drawn and to whom the order to make payment is given.

iii. Payee This is the devisee of the cheque or the person to whom the cheque is outstanding.

iv. Commission This are charges the bank makes from the guests as regarding services rendered to their current accounts.

Dormant account A dormant account is one which has not been operated by the client for a considerable length of time ranging from three months to two times.

vi. Bank statement This is a statement showing deals of the client with the bank for a specific period and these statements are transferred to the account holder periodically.

vii. Endorsee The person to whom the title on a cheque is passed by countersign.

viii. Endorser The person who passes on the title on a cheque to another by placing his hand on the reverse of the cheque.

ix. Capital This is quantum used in the starting of a design.

References

Orjih John( 1999) Business Research Methodology Meteson hype CompanyP.100- 103.

Orji John( 1996) Element of Banking Nigeria, Rocia CommunicationP.5- 10.

OsayamehR.K.O.( 1986) Practice of Banking United Kingdom Collins

PublisherP.91.

Syers,R.S.( 1960) Modern Banking London Oxford