Current account opening

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 April 2012 Dear Sir,

I want open a current account with Name ""Ram Travel" this is a Propriter how can open a current account and please tell me document for opening a account

Regards
Kripa

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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18 April 2012 The person desiring to open a current account or a saving bank account has to apply to the bank concerned in the prescribed form. The application forms are printed and are available in the bank free of cost. Banks provide different application forms for opening a saving or current account. The application form contains the information regarding the name of applicant, his occupation, full address, and specimen signatures.

If a company wants to open a current account with a bank, the following documents have also been admitted:

1. A certified copy of the resolution of the Board of Directors for opening of the account.
2. A copy of the Memorandum and Articles of Association of the Company.
3. A copy of the Certificate of Incorporation and Certificate of Commencement of business.
4. Specimen signatures of the persons authorized to operate the account.

In the same manner, if a society or club wants to open an account with a bank, it should admit a copy of the certificate of registration, a copy of the resolution of its managing committee for opening of the account, a copy of its bye-laws and specimen signatures of persons authorized to operate the account. In case of partnership, a copy of the partnership deed is also to be submitted while opening a current account.

After the above formalities are over, the applicant deposits the initial amount and the banker opens an account in the name of the applicant. Generally, the minimum amount to be deposited varies from bank to bank.

CA Kishore Tallam

CA Kishore Tallam (Expert)
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18 April 2012 Get an application from bank, fill it up, sign it, give specimen signatures, photos, address and ID proofs and give the same to the banker.
Then they will process the application and allot u a bank account number.

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