Current Account Application Individuals

APPLICATION FOR CURRENT ACCOUNT- INDIVIDUALS


Branch

Surname		Title
First name(s)
Nationality
Type of Id		Country of residence
ID number		Expiry date
Gender	Male Female	Date of Birth

Other Bankers		Branch
Initial deposit

Maiden name		Physical Address
District		Number of years at this address
City/Town		Location
Mailing address
Telephone number(s)	(work)	Fax number
	(home)	E-mail address
	(mobile)

Occupation		Previous employer
Employer		Years
Years employed

Gross monthly income		Net Income

Spouses occupation		Next of kin
Spouses employer		Next of kin address
	Refferences

Name	Occupation	Banker



Statement Frequency		E-mail statement	Yes No
Frequent e-mail address		Cheque book narrative	(28 characters maximum)

TERMS AND CONDITIONS
Relative to
The current Account Named (The Account Holder)

In consideration of the Bank opening an account, and continuing the same from time to time at the Bank’s discretion, the account holder hereby agrees as follows:
1. That deposits of cheques or other commercial items (whether or not drawn or payable by the Bank) shall not be available for withdrawal until collected and/or paid by the Bank, and that the Bank’s usual statements with respect to the account may be sent by mail from time to time at the risk of the account holder to the address as provided.

2. That the account may be charged at any time(s) with such amount(s) as the Bank may determine to be necessary to compensate for service rendered to or on behalf of the account holder whether with respect to the account or otherwise; also for the time devoted and the expense incurred by the Bank at any prior time(s) relative to any legal process(es) served on the Bank with respect to the account holder. That said rates of charge may be changed by the Bank at any time(s) by sending to the account holder by ordinary mail at least ten (10) days before the change becomes effective, a notice specifying the proposed change.

3. That with respect to each item drawn against the account as which the Bank shall have been asked by the account holder to stop its payment:

a) to make such request or to confirm the same promptly in writing and to indemnify the Bank against any loss resulting from the non-payment thereof;

b) should the item be paid or certified by the Bank through inadvertence or through misdirection of the item the Bank will in no way be held responsible, provided the Bank have in good faith followed the Bank’s usual procedures in handling stop payment orders.

c) to notify the Bank promptly in writing if the item (so stopped as to payment) is recovered or destroyed or for any other reason the stop payment order may be cancelled, and

d) A written stop payment order shall be effective for six (6) months unless renewed in writing.

4. That the account holder understands that the account is subject to the terms of the, the provisions of all bylaws, regulations and service, inherent and other rules and practices of the Bank relating to the said account now in effect and hereafter adopted.

5. The Bank is relieved of all liabilities arising out of loss or non-receipt of any statement, voucher, advice or notice mailed or held as herein authorised. This agreement shall be governed by the laws of Malawi.

6. No overdrafts are permitted in the accounts without prior agreement with the Bank.

7. That I/We understand that any sum outstanding to the debit of the account shall be liable to the interest charges at the rate fixed by the bank from time to time.
8. I/We agree that in addition to any general lien or similar right to which the Bank as bankers may be entitled by the law, the Bank may at any time and without notice to me/us combine or consolidate allow any of my/our account (s) with and liabilities to the Bank and set off or transfer any sums standing due to credit of any one or more such accounts) or any other credit, be it cash, cheques, valuables, deposits, securities, negotiable instruments or other assets belonging to me/us with the Bank towards satisfaction of any of my/our liabilities to the Bank or any other account or in other respect whether such liabilities be actual or contingent primary and several or joint.

9. Minimum balance requirements will be determined by the Bank from time to time, compliance of which is mandatory for the account holder.
10. That I/We agree covenant that I will examine all statements supplied by the Bank setting our transactions on any of my/our accounts and agree that unless I/We object in writing to any of the matters contained in such statement within 24 days of the date of such statement, I/we shall be doomed to conclusively have accepted all the matters contained in such statements as true and accurate in all respects.

11. That the Bank may close at any time any of my/our accounts with the Bank by giving 10 days notice in writing to my mailing address as provided or such other address as provided or such other address for such purpose from time to time notified in writing to the Bank.
12. That on my/our certification of receipt of a complete cheque book I /we will ensure safe custody of the same. That I/we will ensure that cheques are clearly written in ink, and that all drawings will indicate the full amount in figures and words, and the bank will not honor cheques with alterations.