General Banking in Bank Asia Ltd

Abstract

In this report the “General Banking” aspect of a bank has been explained. In every bank, there are three major areas and they are general banking, foreign remittance, and credit department. In this report, the four major departments of general banking are discussed. They are customer service, remittance, clearing and teller service. Customer service is a vast department and many major activities are covered by this department. Here account opening is a major task and also it includes various types of deposit schemes, FDR, locker service, pay order, RTGS, BEFTN, various types of customer query and their solutions. So serving a customer properly is the main task of this department. Other departments are clearing and remittance. These two departments can be jointly or separately operated in many banks. The formal name of clearing is known as "BACH" (Bangladesh Automated Checking House). But informally this is known as clearing. There are three ways to do the clearing: BACPS (Bangladesh Automated Check Processing System), BEFTN (Bangladesh Electronic Fund Transfer Network), RTGS (Real Time Gross Settlement). There are two kinds of clearing: inward and outward. Remittance is one of the major departments of general banking. By the remittance, one can easily get the money from the bank which is sent from abroad. Peop1e can send their money from outside or within the country. According to that, we can divide the remittance into two categories: Local remittance and foreign remittance. And the last one is the teller department. The main job of this department is to receive deposits and payment of withdrawals and providing some ancillary services. So In this report I had tried my level best to clearly describe these departments and the benefits that the bank gets and the cost that the bank bears and the benefits that the customer gets and the cost that the customer bears. I tried to explain these topics here.