Assistant Current Account and Branch Manager

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Assistant Current Account and Branch Manager Interview Questions and Answers

Updated 9 Jun 2024

Q1. how to do kyc for business account for single and multiple user as a firm

Ans.

KYC for business accounts involves verifying the identity of single and multiple users as a firm.

  • Collect identification documents for all owners and authorized signatories

  • Verify the business registration documents

  • Check for any beneficial owners or ultimate beneficial owners

  • Perform risk assessment based on the nature of the business and transaction volume

  • Regularly update KYC information to ensure compliance

Q2. does bank give any interest on current account

Ans.

No, banks do not typically give interest on current accounts.

  • Current accounts usually do not earn interest as they are designed for everyday transactions

  • Banks offer savings accounts for customers to earn interest on their deposits

  • Some banks may offer interest on current accounts but it is rare and usually comes with certain conditions

Q3. what is current account

Ans.

A current account is a type of bank account that allows frequent transactions and withdrawals.

  • Current accounts are typically used for everyday banking needs such as paying bills, receiving salaries, and making purchases.

  • They offer features like debit cards, online banking, and overdraft facilities.

  • Interest rates on current accounts are usually lower compared to savings accounts.

  • Examples of current account providers include traditional banks like HSBC, Barclays, and online ban...read more

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