Account Opening Revise Procedure

CENTRALIZED ACCOUNT OPENING (CAO)

1. Process for receiving and subsequent handling of AOF shall remain the same however discrepant AOF to be divided into two categories

Primary : Discrepancies pertaining to the customer/documentation (e.g. SBPPR, Expired CNIC, Salary/Income proof, missing documents etc)

Secondary: Discrepancies due to branch’s own errors & omissions (Internal omission such as branch stamp is missing, needs verifications, cutting authentication, blank columns)

2. After completion of 1st & 2nd scrutiny of account opening documents/forms at CAO, the processing will be as under:

Accounts which are complete in all respect: Such accounts will be de-blocked by

CAO under system based intimation to the concerned branches. Simultaneously, the 1st cheque book request will be uploaded in the system for printing of cheque book by CBU. Furthermore, Debit Card application (if provided) shall be forwarded to Card Center for its production.

Accounts which are having Secondary nature of discrepancies: Accounts which are having secondary nature of discrepancies shall be informed to

concerned branch through system. However, the account is to be de-blocked by CAO, and their 1st cheque book request will be uploaded in the system for printing of cheque book by CBU. Furthermore, Debit Card application (if provided) shall be forwarded to card center for its production.

Accounts which are having Primary nature of discrepancies: Accounts which are having primary nature of discrepancies shall be informed to

concerned branch through system and shall remain blocked, their cheque book request/Debit Card application shall not be forwarded to the respective units, until & unless the identified discrepancies are rectified by the concerned branch.

BRANCH FOLLOW-UP

Accounts which are having Secondary nature of discrepancies:

Upon follow-up by CAO, branch must rectify identified secondary nature of discrepancies within three working day’s including date of receipt of intimation.

Accounts which are having Primary nature of discrepancies:

Branches, immediately upon receipt of intimation of discrepancies from CAO, shall

inform the customer on the same day through a letter regarding discrepancies highlighted and ensure completion of all related formalities within working days.

In case of non-completion of shortcomings by the customer within 4 working days of dispatch of discrepancy letter, final notice will be dispatched by the branch to the customer on 5th day from the date of issuance of 1st letter clearly indicating the closure of account after 7 working days of final notice, if not rectified

In case of no response from customer, said account will be closed by the branch immediately on the expiry of the due date given in the final notice by issuing Pay Order of the balance amount (if any) in the name of account holder. Customer should be contacted to collect PO from the branch. In case of non-collection even after follow-ups, said PO to be dispatched under covering letter & copy to be retained. Courier receipt should be kept for record purposes.

Grace Period:

In exceptional cases, seven days grace period for rectification of discrepancies may be allowed by the Branch Manager only for HNW customers upon approval of the Area Manager, under intimation to their respective Regional Managers. The Grace period will start on the expiry of final notice to the customer.

LETTER OF THANKS

CAO will generate & dispatch the LOT immediately on the 2nd day of account opening at branches, irrespective of the fact that AOD is

received at CAO or not.

Turn Around Time