1. Definition:
Check Deposits refer to deposits that do not pay interest and can be withdrawn at any time using checks signed by the depositor or an ATM authorized payment method.
2. Account Opening Procedure:
Individuals, corporations, organizations, firms, schools, public enterprises and other groups are eligible to open a check deposits account with the Bank. The depositor should personally come to the counter, fill in a Check Deposits Account Application and Transaction Agreement, leave a specimen signature card, and turn in the necessary documents. The account should be opened following the principles below. The Bank will approve the application after verifying the credit history of the applicant.
(1) Individuals should open the account with their real names.
(2) Government agencies, schools, public enterprises should bring official documents for application.
(3) Corporations, firms or other groups should open the account using their legal names, and give the names of their representatives.
(4) The branch company should get the application approval from the headquarters, and apply under the name of the parent company. But the name of the branch company can be listed together in the account name.
(5) A firm or a group that is not a legal entity should apply for the account under the name of its representative. But the name of the firm or group can be listed together in the account name.
3. Method of Deposit and Withdrawal:
The depositor should fill in the deposit form to deposit cash, notes of the Bank or other banks, and other forms of deposits. For withdrawal, the depositor should sign the checks or promissory notes issued by the Bank and affix a seal previously authorized by the bank. The depositor can also withdraw from ATMs or use other methods previously authorized.
4. Bank Services:
(1) Send monthly account statement.
(2) Provide Voice Transfer or e-Bank services.
(3) Provide continuously printed checks and personalized checks.
(4) Provide transaction details inquiry and set-off services in accordance with the ERP system of the Bank.