1

INTERNSHIP REPORT
INTERNEE NAME:
Usman Shahzad
INTERNSHIP PERIOD:
Six Weeks
Bank/Branch:
Unied !ank "imied/Okara
Branch
2
Acknowledgment
By the Grace of Almighty Allah, the most Merciful, the most Beneficial, I'm today
submitting my internship report, at the end of my first pragmatic experience and I'm glad
to have it ith !B", one of the largest ban#s in the $a#istan% &hirst of learning is inside
you, and hatever the environment, if you're illing to learn, you do% At !B", I had a
ne, challenging, yet a perfect environment to learn% My parents' prayers and their
teachings Ban#re alays ith me and hereby I ill li#e to ta#e this opportunity to sho
my gratitude to all those ho made my internship an adventurous outit%
'ere I am, from more professional and rather corporate environment of !B"
Okara branch% I never #ne hat it all going to be% (espite of the most hectic schedule,
every person in the ban# helped me so much% I'm really grateful to all of you for
clarifying my concepts and ma#ing me learn from your experience% )hatever I learnt
from you ill definitely help me in my upcoming study and the professional life ahead%
&han# you so much for being so co*operative and so helpful every time%
In the end, I'll li#e to than# all my colleagues, Mr% Abbas, Mr% I#ram, Mr% +ashif,
Mr% Bilal, Mr% Adeel, Maa'm and all my other ,taff, here and in -#ara Branch, for their
unconditional support and help in ma#ing me learn in a good environment%
Usman Shahzad
.
Consumer Banking
/ou as an individual can gain and benefit the most through !B" 0onsumer Ban#ing% In
!B" you get friendly, efficient and attentive personali1ed ban#ing services * a uni2ue
ban#ing relationship experienced by each !B" client% /ou can utili1e the folloing
services%
UBL Address
-ning a house of your very on is a cherished dream% A lot of planning and hard or#
is involved in ma#ing this dream come true% &hat is hy, at !B" aim to ma#e your
decision easier, by offering you the right ingredients that can help you reali1e your dream
ith absolute convenience%
!B" Address empoBan#rs you to become the proud oner of a home by offering a
variety of product and pricing options that are flexible yet affordable% ,o choose the best
product option and pricing to suit your needs% All product options are amorti1ed and
range over a tenor of .*23 years%
Buying a home
)hy rent hen you can buy4 Buying a home of your choice has never been so
easy%
)ith a maximum financing limit of 536 you can easily buy a house or apartment that
best fits your re2uirements% ,o go ahead and start the search for your dream home
because ith easy and affordable installments you need not thin# of renting a house
hen you have hot !B" Address%
UBL Business Line
!B" Businessline a complete solution to all your Business 7inancing needs% )ith !B"
Business 7inancing facility, you can no ta#e your business to greater and neBan#r
heights, and achieve the level of success that you truly deserve% !B" Businessline is a
running 7inance facility that not only provides funds for groth but also enables you to
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)ith !B" Businessline, no you ill surely say% 8Ab 'ui +amiyaabi Meri Man1ill9%
:o, !B" Businessline credit line is here to solve all your cash flo problems% /ou can
utili1e up to ;s%13 million ith the help of hich you no focus on your business
expansion and groth%
<
UBL Cash line
!B" 0ash line is a flexible loan that provides you cash up to ;s%=33,333 ithout any
security re2uirements% It Ban#rs you to ta#e control of your finance% !B" 0ash line is
aimed to ma#e your life easier>ZINDAGEE ASAAN% )hether you are a salaried
individual or a businessman, !B" 0ash line ta#es care of your cash re2uirements%
UBL Credit Card
Ban#lcome to the orld of !B" 0redit 0ards the most exciting and vibrant credit
card brand in $a#istan% Ban# offer you a range of innovative and exciting cards that is not
only poBan#red by the security of chip but also enable you to personali1e it any ay you
ant>
UBL Drive
Accelerate your life? (rive the ay that suits you@ !B" (rive is a uni2ue auto financing
product hich offers you features, option and flexibility unmatched by any other ban#,
because at !B", /ou come first%
Used Car Financing
)ith !B" (rive you can buy favorite used car Aup to = years oldB at the most affordable
rates%
Cash Your
Car
!B" (rive is not a car loan? it is a financing facility that gives you 0ash on your car,
you can get up to C=6 of your car value%
UBL Money
!B" money, the personal installment loan from !B" provides you ith poBan#r,
0ontrol convenience and the flexibility to manage your financial re2uirements and reali1e
on your dreams%
ItDs about buying ne furniture or marriage expenses, financing the education of your
child or enEoying vacations abroad@ !B" Money caters your needs handsomely% /ou can
borro any sum betBan#en =3,333 to =33,333 A$+;B and payoff up till = years% Ban#
#no hat you need at hat time% Fust give us the opportunity and let us serve you best%
=
Other Services
!B" :et Ban#ing
!B" e*statement
'amrah
!B" )allet
UBL !et Banking
!B" :et Ban#ing is an internet ban#ing portal offering a simple, convenient and
secure method of accessing ban# accounts on the internet% ItDs never being so easy
to access and manage your finances in a secure real*time, online environment
UBL e"statement
!B" is pleased to announce the launch of the !B" e*statement facility hich it
easier for you to get your statement of accounts and automated transactional debitGcredit
alerts right into you inbox%
#amrah
!B" has alays been adding the forefront in identifying and meeting the
financial needs of its valued customers% !B" as a pioneers an introducing ;upee
&ravelers 0he2ue facility in $a#istan, as early as 1HC1% In continuation of the same
tradition, !B" in the shape of, 8HAMRAH ;upee &ravellers 0he2ue enhances this
facility for the convenience of its valued customers by offering denomination up to
;upees 13,333%
!B" has a 2< hours customerDs help*line, providing its customers ith round the cloc#
tele*verification of 'AM;A' ;upee &ravellers 0he2ue%
UBL $allet
!B" )allet II,A as your debit card, you can shop all you ant, eat all you can
or fill up car tan# ithout carrying any cash%
Commercial Banking
&o stand tall among the orldDs leading ban#s, !B" has developed a /-!
attitude to understand its customers Ban#ll% )hen you tal#, Ban# spea#s for you% 7or
small and middle si1e investors, !B" has so much to offer, so much to deliver% /ou
live the ay you ant? Ban# ill alays be shadoing you% )al# in to any nearest
branch of !B", enter the orld class ban# and let us serve you ith hat you need%
J
Small Business Scheme
!nder the ,mall Business ,cheme, !B" is providing loans on easy terms to those
ho ish to set up their on small*scale business% &his scheme is aimed at spreading
prosperity in the country by reducing unemployment%
As more and more people start their on industrial units, the country ill move
steadily toards economic self*reliance%
C
%nvestment and Saving Accounts
At !B", Ban# offer you the most beneficial and secured financial investment and
saving options% /ou can choose from the folloing list of accounts anything that serve
your needs best%
UBL Basic Banking Account
Kxempted from Minimum Balance charges, !B" BBA holders can carry out to
deposits and to ithdraals each month as per the ban# policy% &hrough 2<hrs
A&M services, Ban# can carry out transactions as and hen desired, staying in the
daily ithdraal limit%
UBL Business Partner (Current Account)
7or our regular customers, Ban# offer the ultimate option, !B" Business
$artner A0urrent AccountB% )ith unlimited deposits and ithdraals, Ban# offer you
convenience of !B" net ban#ing, !B" )allet, !B" -rion and other exciting
consumer products% 0ustomers are liable to maintain minimum balance of ;s% 13333
to avoid the minimum balance charges until and unless Ban# are exempted from it%
;emember@ Ban# are not Eust a business? Ban# are your careta#ers? Ban# #no hat
you need%
PLS UniSaver
"et your savings earn you buc#s% $", !ni,aver offers you semi annually profit
disbursement ith profit being calculated upon average monthly balance%
PLS UniSaver Plus
Big amounts earn you big? but ith $", !ni,aver $lus, Ban# ma#e it bigger for you%
)ith deposits starting from ;s% 2= million, Ban# offer =%336 but more you put in,
more profit rate ill Ban# offer%
Avg& Balance 'er month (ro)it *ate+
;s% 2= million =%336
;s% 2= million to ;s% 133 million =%136
;s% 133 million to ;s% 2=3 million =%236
;s% 2=3 million to ;s% =33 million =%.36
Above ;s% =33 million =%=36
L $rofit rates are for the month of Fuly only
5
UBL Rupee Transaction Account (PLS Saving)
'ave your money box at !B"@ $ut in your savings and let us earn you =6 p%a% over
your daily savings%
UBL UniFle
'ave couple of thousands spare4 0ome invest in our !B" !ni7lex Accounts, Ban#
ill ma#e you earn handsome%
Amount (ro)it *ate
1333*=3333 C%36
=3331*133333 C%2=6
133331*233333 C%=6
)ith !B" !ni7lex, Ban# serve you ith fix profit rates at
maturity%
!"Transaction (Current Account)
In the era of glooming computeri1ation, even 0hicago, &o#yo, ,ydney, all are
seconds aay from you% Internet has turned distance into time, and Ban# have turned
your account into a sheer pleasure% :o sitting at home, or at office or anyhere in
the orld, Ban# offer you a ide spectrum of orld*class electronic services
and ban#ing products each time you log in% !se your account li#e a regular account
plus use the premium Internet M Mobile ban#ing services for Instant 7und &ransfers,
Instant ,hopping, Instant Bill payments, Instant Mobile top ups, Alerts, ,tatements
and much more% /ou love surfing, come surf ith !B"%
UBL Pro#it C$%
Ma#e fix investment ith us, choose your profit option, and Ban# ill serve you
the best rates in $a#istan% )hat if you earn at 1J%2=6 p%a% ,top imagining, come
invest in our 0ertificates of (eposit@ At maturity, Ban# offer you the folloing ratesN
De'osit ,iers - (roducts .ul / 0 .ul 1/2 3445
. months 5%2=6
J months 5%=36
1 year H%=36
2 years 11%=36
. years 12%C=6
< years 1.%2=6
= years 1.%C=6
J years 1<%2=6
C years 1<%C=6
5 years 1=%2=6
H years 1=%C=6
13 years 1J%2=6
13
11
Com'lementary Services
&nsurance Certi#icate
!B" not only cares about you, Ban# care about those too ho are dependent
upon you% ,o !B" no offers enhanced 7ree Accidental and (isability Insurance
0ertificate coverage to all existing and ne account holders%
Closing Balance at month end
6(7*8
%nsurance Limit 6(7*8+
1 O 13,333 133,333
13,331 O 133,333 2=3,333
133,331 O =33,333 =33,333
=33,331 O and above 1,333,333
L &erms and conditions apply
UBL 'allet (&SA
Imagine you are shopping in a big mall and you are ever so atchful about your
cash in your allet% Kvery time you shop, you're in a mess@ "et !B" )allet Iisa ease
your shopping% ,hop around and pay your expenses directly from your account through
!B" )allet% :ot only can this, individuals and sole proprietors, through more than H2=
A&M machines, debit their accounts as many times as Ban# ant% /ou can
choose according to your need% Ban# offer
0ard
&ype
Annual fee A;s%B (aily "imits A;s%B
$rimary ,upplementary A&M
)ithdraal
(ebit 0ard
,pend
7unds &ransfer
A7rom !B" to !B"B
7unds &ransfer
A7rom !B" to other
ban#sB
Gold =33 2=3 <3,333 133,333 2=3,333 2=3,333
,ilver .33 1=3 23,333 =3,333 2=3,333 2=3,333
Moreover, the convenience and excitement of Internet ,hopping is also available
at !B" )allet II,A A&MG (ebit 0ard% ,o surf around and feel free to shop% Ban# are
here to help you pay miles aay%
UBL $rion
Buy W100! (!ssa"! #$n!%
D!ar cus#$m!r y$ur &$uch!r ' (s 1)*+,-)*.*/-+0.)
1hank y$u 2$r us(n" Or($n3
12
/our finger tips might have not been that poBan#rful before% Fust type in
commands and at your ease, buy mobile cards and pay your utility bills% )ith !B"
-rion Mobile )allet, running around for mobile cards and 2ueuing to pay your utility
Bills is no longer a part of your life% "ive your life at your finger tips%
UBL )et *anking
!B" is very much determinant to ma#e ban#ing as you ill% 'o about being in
office, or on your ay, at home or at anyhere in the orld but still connected to your
account@ &hrough !B" :etBan#ing, Access your accounts any time, pay anyone you
ant, pay your bills, buy vouchers you need and get account alerts, all integrated ith
one of the best security systems in the orld%
Hu+ra,
'umrah is your secured cash, something thatDs safe anyhere and accepted every*
here% -ffered in the denominations of 13,333 and =,333, P'amrahP ;upee &raveller
0he2ues are the ideal and safest ay of carrying cash hen travelling anyhere in
$a#istan% "et it be business? property? trade or personal needs? Ban# ma#e you have
the most convenient option% Moreover, 'umrah ;&0's are no accepted at more than
2333 places such as hotels, shops, real estate agents, EeBan#lers, car dealers, etc and of
course at all our !B" branches%
UBL e"state+ent-
(uring your busy hours, you donDt have to bother about visiting us to get your
account statement% :either thereDs a ris# of anyone else #noing your account details%
,ubscribe today, free of cost to !B" e*statement facility and let us share details ith you
daily, Ban#e#ly, monthly, 2uarter or semi*annually% Get debitGcredit alerts and #no as
soon as you get money or pay off%
1.
My learning
,tanding on the floor of !B" -#ara Baranch, I heard the good nes of me
having a six Ban#ed opportunity to interact ith a orld class ban#% All these six
Ban#e#s Ban#re full of events, full of learning and most importantly full of professional
or#ing% 'ere 'professional' regards in all from clerical to managerial or#% In these six
Ban#e#s period, the best thing to me as the authority and dependency of customers
upon me, hen Ban# come ith a hope that I'm there to guide them through% +noing all
is not learning, the real learning is to convey right% I tried to learn real, see real !B",
and tried to comprehend the difference betBan#en hat Ban# loo# from outside and hat
is going on inside%
!B" is full of experienced and professional traditional ban#ers% As it perfectly
suit the environment Ban# are operating in, /ou attitude has helped !B" in capturing
masses% In the private sector, no doubt its a fast groing ban#, but here's something that's
still unrealistic to the policy ma#ers% &he line of unsatisfied customers is increasing, not
because Ban# are not serving Ban#ll, it's because customers are not understanding the
/-! attitude right% Kvery customer ants to ma#e sure his or# is done at the first
convenience, but Ban# are not concerned about the responsibility ith hich every
employee is or#ing% Ban# need to put in some guidelines for our customers, as Ban#
al# in% &his ill not only save their time but ill also motivate staff members to or#
more promptly, because if customer and employee engage into some unhealthy 2uarrel,
the hole environment ill be disturbed%
Bac# to my real learnings% In my six Ban#e# internship, I or#ed in
customer service department, as Ban#ll as in clearing department% Because of some or#
load, I as unable to learn much about other cash and accounting department% 'ere
is my count don learning of six Ban#e#s%
Account O'ening
$enning don information and #eying it into the system does seem a simple and
tedious Eob but it is not% My initial five days at customer service department as the
liveliest experience of my internship% &hough physically I as there Eust to assist the
account opening officer, but it turned out to be much more for me% &hat is hen I first
actually imitated as a presenter of !B" to customers, hen to many people, I'm their
hope%
!B" offers a variety of options for anyone? to everyone% /ou are an investor,
regular businessman, middle man, salaried person or a house ife? !B" serve you in
every ay it can through its commendable and reliable services, because at !B", /-!
come first%
)or#ing at 0ustomer ,ervice (epartment, I did counter ith different types of
customer and opened their accounts under the supervision of the officer% )hen you have
the sole responsibility to open the accounts, it's alays very important to understand the
needs of your customer% !nderstanding the psyche of customer is very important% !ntil
1<
and unless you're completely satisfied that the customer has genuine reason and need to
open the account, don't do so%
Account O'ening Form
In all the documentation ithin the ban#, clearness and tidiness are the maEor
features% -ver riting and cutting should alays be avoided as it may lead to any
misinterpretation% Account -pening 7orm is the most important documentation hen a
customer al#s in for commercial ban#ing and ants to develop a relationship ith us%
In A-7, all the necessary information should be completely scrutini1ed before the
customer al#s bac#% :o letDs loo# at some of the salient re2uirements of A-7 and
their importance%
Currenc. an/ T.pe o#
Account
It offers you all the eight different types of accounts mentioned before% 7irst
understand hy the customer is here and hat type of account suits him a lot% ,cale don
all the options suiting his investment or re2uirement and help him choose hat is best for
him% -utline all the salient features of that particular account to him and ma#e him tic#
the best box%
Mar# the currency box if the customer ishes to deposit in currency, in case,
other than $+;%
)ature o# Account
!nderstand and choose the desired nature of account%
&n/ivi/ual Account (Single01oint) determines if the account is personal or Eoint% -nce
again understand your customer here% Illiterate and gullible customers should better opt
for Eoint account for their on security%
Particulars o# Account
7irst of all the title of account is entered by hich it ill be called off%
7olloing is the +eyG,ecret )ord of six characters hich is mostly preferred to
be motherDs name because itDs simple unforgettable% +ey ord is used to verify
the customer on phone or hile other subse2uent in2uiries% :ext comes the
mailing address? here the ban# should mail anything it has to% :ext is the
permanent address of the customer hich should be copied from the 0:I0 of the
customer% K*mail address is mandatory for :et ban#ing and e*statement facility
hereas Mobile number for mobile ban#ing% "astly itDs your choice to hold your
statements for collection or mail it to you%
L'ere ma#e sure mandatory fields are entered and any valid contact
number must be provided%
1=
Personal &n#or+ation
7olloing portion summari1es social ith standing of a person%
ApplicantDs name, 7atherDs or husbandDs name, gender, marital status, (ate of
birth, nationality, country of residence and identification source and its number
should be enter% Ma#e sure the source of identification is not expired% Knter :&:
if available% +no the occupation of the applicant and chec# the respected box%
In case there is more than one account applicant, fill in all the above
mentioned information for other applicant as Ban#ll%
LItDs a good practice to as# for the original identification source of the
customer and pen don the number and expiry date directly from it%
)et o# 2in
In case if the account holder is someho not contacted, this portion
provides information of the person ho should be contacted instead% $ersonDs
name, relationship, address and &elephone number should be provided%
Business Account determines that the party has its on entity under hich the account
ill be supervised% Match the respected category and chec# the box%
Particulars o# Account
'ere the information about the business is filled in% &itle of account,
companyGbusiness name, and nature of business, officeGmailing address, head
office Gregistered address, office email and :&: are mandatory information
re2uired for business account% 0:I0 is re2uired in case of sole proprietor ship and
information of fe persons are re2uired ho can be contacted in case of
companies% 'ere Ban# need to #no that ho ill be operating the
company accounts%
A//itional &n#or+ation
!isting relations,ip 3it, UBL
In case if the customer already has some relationship ith !B", it should
be mentioned here% &his is Eust in case to formally #no and cross chec# the
customerDs provided information%
!isting relations,ip 3it, ot,er *anks
&his is to #no hat relationship the customer has ith other ban#s, if
any%
UBL 'allet ATM0%e*it Car/
'ere first define your customer hat A&M card is, hat are its features
and hat is the difference betBan#en its different options% Knter the name of the
customer in Q:ame on cardD field% &hen is the option of supplementary A&M
card%
1J
A customer can issue up to H supplementary cards% If supplementary card is
re2uired, a !B" )allet II,A card re2uisition form is filled in hich details
about supplementary card holders is penned%
4akat %e/uction (onl. on PLS
A0C)
$", account holders can directly pay Ra#at from their accounts, if
Ban# are illing to%
$t,er UBL Pro/ucts
Account holders can opt for !B" :etban#ing, !B" -rion, 0redit card,
$ersonal loan, 0ar 7inancing, Mortgage and Business 7inance%
$perating &nstructions
&his identifies the signing authority of the account% It can be operated
singly, either or survivor, Eointly, mandate or by any other in special cases%
State+ent o# Accounts
&his specifies ho early the account statement is re2uired% It can be daily,
Ban#e#ly, monthly, 2uarterly or semi annually% 0ustomers can choose Mail or
e ,tatement or both%
Special &nstructions
,pecial instructions, if any, are registered here% It usually certifies further
the operating instructions of the account%
Account re#erre/ *.
(etail of person referring the customer is entered here%
Ter+s an/
Con/itions
&hese terms and conditions outline the policy of ban# about its accountsD
regulations% Abidance by state ban# las and ban#Ds policy is compulsory and
customerDs signature at the end of the statement is his abidance by the la
&n/e+nit. an/ Un/ertaking
'ere the customer agree by the ban# policies and agree to its terms%
Applicant sign the underta#ing and officially agrees to be a part of !B"%
4As an account opening officer, you must enclose all the signatures and
should verify them% Kvery cutting on the A-7 should be verified by customer's
signature, and officer should verify the customer's signature%
1C
For Bank Use $nl.
Special Categor. o# Account
If the account is of minor, !B" staff, Illiterate, Blind or ;egistered Alien,
it should be chec#ed respectively% $assport si1e $hotographs are re2uired in this
case and customer can only ma#e the transaction personally% Ma#e sure signatures
are not too simple or sha#y% If so, again passport si1e photographs may be
re2uired and transactions can only be made personally for customer's on
security%
Service C,arges
&his is the minimum balance penalty hich is applicable to all except
students, mustahi2ueen of 1a#at and government employees' salary or pension
purpose accounts
2no3 5ou Custo+er
'ere's an assessment that the account opening officer do in order to
understand some aspects of the ne customer relationship%
&n/ivi/ual Account
&he customer is mar#ed as al# in, mar#eted or a referral? heGshe is a
public figure or not% Moreover hat ill be the customer's sources of funds% )hat
ould be the usual mode of transaction and hat ould be the intentions of
account ith !B"% )ho ill be the ultimate beneficiary and hat is the
approximate value of transaction per month%
Business Account
&he customer is mar#ed as a al# in, mar#eted or referred customer%
:ame of parent and other companies are entered% Geographical area of activity is
mentioned% 'o the business earn is mentioned to #no the business type% &hen
similarly mode of transaction, ultimate beneficiary, initial deposit and
approximate maximum value of transaction per month is recorded%
L7inally after fulfilling all the necessary re2uirements, the officer here by
recommend to open the account of the customer%
%ocu+entation to *e o*taine/
&n/ivi/uals
$hotocopy of 0:I0GAlien ;egistration :o%G passport
$hotocopy of service cardGemployment cardGstudent card
Sole Proprietors,ip
As above and :&:G,ales &ax ;egistration 0ertificate
15
Application to open account on sole proprietorship letter head
;ubber stamp of sole proprietorship to be affixed on A-7 and ,,0%
Partners,ip
$hotocopy of 0:I0 of all partners
Application to open account on partnership letter head signed by all
partners
Attested copy of $artnership deed
0opy of ;egistration certificate ith ;egistrar of 7irms
Authority letter in favor of person responsible to operate the account%
;ubber stamp of partnership to be affixed on A-7 and ,,0%
1oint Stock Co+panies
0ertified copies ofN
;esolution of Bo(s for opening of account and certifying the person
responsible to operate it
Memorandum and Article of Association
0ertificate of Incorporation and 0ommencement of business
0:I0 of all the directors
:&:G,ales &ax ;egistration 0ertificate
;ubber stamp of 0ompany to be affixed on all documentation
Clu*s6 Societies an/ Associations
0ertified copies ofN
0ertificate of registration
By*"asG;ules and ;egulations
;esolution of governing body to open an account, certifying the person
responsible to operate it%
:&:G,ales &ax ;egistration 0ertificate
;ubber stamp of 0ompany to be affixed on all documentation
Agent Accounts
0ertified copy of '$oBan#r of
Attorney' $hotocopy of 0:I0
Trust Accounts
$hotocopy of 0ertificate of ;egistration
$hotocopy of 0:I0 of all trusties
0ertified copy of instrument of trust
!ecutors an/ A/+inistrators
$hotocopy of 0:I0 of KxecutorGAdministrator
1H
0ertified copy of "etter of Administration or $robate
S'ecimen Signature Card 6SSC8
)henever a customer visit us to ma#e a transaction, Ban# cannot all the time
verify his signature by A-7% 7or this purpose ,,0 is signed and then scanned into the
system% ,o henever the signature re2uires verification, it can be done through systems
next to employees% ,,0 comprises of Branch code, AG0 :o%, date, customer's name,
special instructions and to signatures%
Che9ue Book *e9uisition Form
At the opening of account, this form is filled, identifying the account number,
number of leaves and hether to hold che2ue boo# for collection or to mail it%
Letter o) thanks
A letter of than#s is dispatched to the mailing address of the ne account holder
and its copy is attached to the A-7% Actually this letter of than#s is for the confirmation
of this fact that customer actually lives at the mentioned address%
23
Clearing o) che9ues
Outward Clearing
My experience at 0%0 ,%&on branch started from the clearing
department% ;ight in the morning che2ues collected from the drop box simply
flood over my table% According to all I learnt through listening, vieing and
2uestioning is summari1ed belo%
Documentation o) Consumer Che9ues
All the che2ues collected are first categori1ed into
o 0redit 0ards
o Auto "oans
o $ersonal "oans
o 0ash "ine
'aving categori1ed, firstly loan number of each che2ue is verified% 7or the
verification of the prescribed loan number, folloing ledgers are credited
0redit 0ards G.=<322.
$ersonal "oans G.=<3J2C
Auto "oans G.=<3J31
0ash "ine G=J1331< A'ead -fficeB
Ierified che2ues are then validated before being documented into the drop box
collection sheet for our daily drop box collections record% &o anticipate the
approval of che2ues, Ban# need to validate some important specifications of all
the che2ues% Ban# areN
Date 0he2ue should not be post dated or out of date%
Figures Amount in ords and figures should match%
Signature (raBan#rs signature must be clear%
%ntercity 0he2ues must not be of other cities% Intercity clearing
che2ues for consumer departments are not entertained
(ayee:s !ame $ayeeDs name should be ritten, and endorsement
should be as per the beneficiary of the che2ue%
&here should be no over riting in every thing penned%
All the filtered che2ues are then entered into the collection sheet in hich
folloing information is entered%
21
0he2ue :o% :ame
of ban# :ame of
0ustomer "oan
:o%
Amount
(ocument :o%
All the documented consumer che2ues are then posted into the system%
(osting o) the Consumer Che9ues
7or clearing, Ban# opt for second option in Ban#ing category, and after entering
the posting date, clearing date and transfer delivery date, Ban# opt for single entry
option% :o all the che2ues are credited in the clearing schedule in their
prescribed ledgers%
0redit 0ards G.=<322.
$ersonal "oans G.=<3J2C
Auto "oans G.=<3J31
0ash "ine G.=H3HH1 AMiscellaneousB
Credit Cards Che9ues ;1<=4331
(uring the posting, folloing fields are #eyed in
(ebitG0redit
Account :umber
Ban#
Branch
0redit 0ard :umber
0he2ue :umber
Amount
(ersonal Loans Che9ues ;1<=4>3?
(uring the posting, folloing fields are #eyed in
(ebitG0redit
Account :umber
Ban#
Branch
&ransaction &ype A"oan ;epaymentB
$ersonal "oan :umber
22
0he2ue :umber
Amount
Auto Loans Che9ues ;1<=4>4/
(uring the posting, folloing fields are #eyed in
(ebitG0redit
Account :umber
Ban#
Branch
&ransaction &ype A"oan ;epaymentB
Auto "oan :umber
0he2ue :umber
Amount
Cash Line Che9ues ;1<@4@@/ 6Miscellaneous8
(uring the posting, folloing fields are #eyed in
(ebitG0redit
Account :umber
Ban#
Branch
0he2ue :umber
Amount
0ash "ine 0he2ues are posted into Miscellaneous ,undry account hen
Ban# are forarded for clearing and, on clearance? Ban# are transferred to
head office AG=J1331<? &r S J3B here all those che2ues are credited to
their respective accounts%
Customer Accounts
(uring the posting, folloing fields are #eyed in
(ebitG0redit
Account :umber
Ban#
Branch
0he2ue :umber
Amount
2.
After entering the details into the system, Ban# can accept, modify and
reEect it% As soon as entry is accepted, computer generated document
number is assigned%
L In case further modification is re2uired, it can be done at clearing
modification option under clearing schedule%
7olloing the completion of posting of che2ues, an add list is prepared to
calculate the total amount of che2ues hich is further cross*chec#ed ith the
clearing display on the system% As che2ues can be either of ;aalpindi or
Islamabad, so separate add lists are prepared and enclosed ith the che2ues in the
:I7& envelopes%
In other case, if che2ue is of city other than ;aalpindi and Islamabad, it's
either sent in intercity clearing or as -B0 A-utard Bill 0ollectionB% Intercity is
presented through :I7& hereas -B0 is either sent through 0ourier or
(ispatched to the desired branch of the ban#%
,tamps in each case is as follos
,y'es o) che9ues Stam's over che9ues Andorsement
"ocal * 0onsumer 0rossing
0learing
;eceived $ayment
"ocal O 0ommercial 0rossing
0learing
$ayee's Account 0redited
Intercity 0rossing
0learing
Intercity 0learing
$ayee's Account ill be
0redited upon reali1ation%
-B0 0rossing
-B0 :umber
$ayee's Account ill be
0redited upon reali1ation%
Cleared Che9ues
:o the next day hen clearing is confirmed by :I7&, respected accounts are
debited% Ban# go into the ban#ing option and in transfer, Ban# debit all the
respected accounts% ,ame is the case ith intercity and -B0 che2ues%
In documentation, debit and credit vouchers are made, hich sho total amount
of clearing as per day%
*eturned Che9ues
All the che2ues hich are returned, due to any reason, are then reversed% Ban# are
debited bac# in the clearing schedule% All the returned che2ues are documented in the
2<
che2ue return registers and all the account holders of returned che2ues are charged ith
service penalty%
LAll the vouchers are signed by the designated officer and all the entries over
=3,333 are supervised
2=
*emittances
Demand Dra)t
((s are alays a secure ay of paying remittances in other cities% Both
account holders and al# in customers can avail the facility of ((s% 0harges tend
to differ for both customers but the advantage tend to be same% ((s are made in
the favour of beneficiary and remitter either pays in cash or through che2ue%
0harges for ((s are
!p to ;s% 133,333G* 3%136, Min ;s% 133 for AG0 holders
3%236, Min ;s% 233 for :on AG0 holders
-ver ;s% 133,333G* 3%3=6, Min ;s% 1=3 for AG0 holders
3%1=6, Min ;s% 2=3 for :on AG%0 holders
Issuance of duplicate (( ;s% 1=3 for AG0 holders
;s% 2=3 for :on AG%0 holders
)hen ((s are issued, head office account are debited and remitters
account is credited, on presentation, head office account is credited and
beneficiary's account is debited%
(ay Order
$-s are another safe ay of paying your remittances ithin the city%
Ban# are payable at any branch and then are forarded for clearing% &here
charges are
Issuance of $- ;s% C= for AG0 holders
;s% 2=3 for :on AG0 holders
0ancellation of $- ;s% C= for AG0 holders
;s% 2=3 for :on AG%0 holders
Issuance of duplicate $- ;s% 1=3 for AG0 holders
;s% .33 for :on AG%0 holders
In case of $-, remitter account is credited and $- AG0 of branch is
debited% At presentation, Beneficiary is debited and $- AG0 of branch is credited%
Uni *emote
!ni ;emote is the online facility of depositing cash to any account in
!B"% )ith on*line ban#ing, you are connected to the complete netor# of !B"
all over $a#istan% !ni ;emote charges are ;s% 233 for cash ithdraal and ;s%
133 for cash deposit%
2J
Security De'osit *ecei'ts 6SD*8
,ecurity deposit ;eceipts are your safe ay of ma#ing payments% :ot only
its free of cost for AG0 holders, it also offers you the best li2uidity solution as the
cash continues to be ith you until and unless your deal gets final and you pay
off% In case of cancellation, it's also free of cost for AG0 holders and their amount
is returned to their normal account balance%
+for non AG0 holders, ;s% 2=3 is charged% (uplicate fee is ;s% 2=3 AflatB