Diary of a BANKER- Part2

Now let’s get down to business; i started my career as a teller, main tasks were making deposits, withdrawals, executing inward and outward transfers, etc.

Well at least that was what i thought it’s all about.
But it turned to be that it’s not just about counting money, i have to study some regulations and laws and i should learn how to know the counterfeit currency in order to take the right decision if i had some of them in my hand, in addition to a lot of other stuff i should know. ( i am the kind of person that really hate to study).
And my ultimate problem always was that i have to spend my time while i am wearing a suit.

First thing i had to know about was the KYC( Know Your Customer).

This form should be filled for any new customer for the reason to be well known by the bank manager and the responsible clerk, which should assure the client’s good morality, the nature of his work, his profession activity, and the use he will make of his account, after getting the information the client should sign it and to be approved by the responsible clerk and the bank manager.

Some of the main information that the KYC should contains:
Personal information and address
Professional information and address
Financial information
Annual revenue
Source of income/funds
Information regarding planned transactions
Beneficiary of funds (should be declared by the customer).

After that, the form should be sent to the AML (Anti Money Laundering).
That was one of the most important things i had to learn about the banking sector and it’s regulations.

At the end it’s always good to learn something new.

To be continued with Diary of a BANKER part-3

The text published in this post is my original work.

Some images are from different sources click on the word image to view the source.
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