No doubt, a strongest banking industry is important in every country and definitely has a significant effect in supporting economic development through efficient financial services. One of the most important services of banks is having an account in a bank, it is a mutual interest of both parties banks and individuals. As for individuals, they have an interest on their money if it was in the form of savings deposits and if it is a current account, it allows clients to perform many traditional banking operations such as deposit and withdrawal by using debit cards so you can pay for any purchases or paying by cheeks. On the other hand, the bank also benefit from this service as these deposits represent its tools to perform its role in our life as individuals and in economy as it is an important channel to fund so, banks play a vital role in the country economy which in turn return to the citizens of the same benefit.
How to open a new account
Opening a bank account isn’t a difficult task, it takes only seven easy steps to open a bank account as following;
decide the type of bank account you want to open
There are various types of bank accounts such as saving account, recurring account, fixed deposit account and current account, so a decision regarding the type of account to be opened must be taken.
approach any bank of choice &meet its bank officer
After choosing the type you should approach a convenient bank as you have to meet the bank officer regarding the opening of the account, he will give you a proposal form (account opening form) to open a bank account.
fill up bank account opening form-proposal form
You must fill the form in all respect, necessary details regarding name, address, occupation and other details must be filled in wherever required