Do you know how many types of bankers customer exist ??
1."Minor" means minor is a person who has not completed 18 years of age.
2. "Illiterate" means illiterate persons cannot sign their names and hands the bankers take their thumb impression as a substitute for signature, and also a copy of their recent photograph the application from and the photograph should be attached by an approved witness, for withdrawing money he must attend personalities and ethics impression in the presence of an official of the bank for the purpose of identification.
3. "Lunatic" the banker should therefore, not open an account in the name of a person who is of unsound mind. but if a banker has discounted a bill duly written, accepted or endorsed by lunatic he can realise the money due on the same from such person accept in the circumstances where it is proved that the banker was aware of the lunacy of the person concern at the time he discounted the bill the banker should suspend all operation on the account of a customer as soon as he received the news of his lunacy till he gets the proof of his sanity or is served with an order of the court.
4. "Married women" A married woman is competent to enter into a valid contract. the banker may therefore open an account in the name of a married women. a married women has power to draw, hold and endorse, cheques, bills etc.
5. "Joint account" means when two or more persons open an account jointly, it is called a joint account.
6. "Joint Hindu family" a joint Hindu family consist of male, his wife, unmarried daughters, and his male descendants. in joint family there is a narrower body called coparcenary, which consists of sons, grandsons and great grandsons of the holder of the joint family property.
7. "Trust account" A trust is a relationship which arise whenever a person called the trustee is compelled in equity to hold properly weather real or personal and whether by legal or equitable title for the benefit of some persons or for some object permitted by law in such a way that the real benefit of the property of occurs not to the trustee but the beneficiaries or their objects of the trust.
8. "Clubs, societies and charitable institution" Clubs, schools, colleges, societies are non trading institutions they are created for charitable purpose. they maintain account with banks.
9. "Partnership firm" When two or more persons carry on business to share profits and losses equally or in proportion of capitals, it is called partnership business.
10. "Joint stock companies" A company is an artificial person created by law with perpetual existence and common seal the acquire legal personality it must be incorporated or registered under the Indian company 1956.
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