The Deposit Account Opening Form is a fundamental document used in Pakistani banking operations to establish a formal banking relationship between a financial institution and its customers. This document is required whenever an individual or entity wishes to open a new deposit account with a bank in Pakistan. It serves multiple purposes: collecting customer information for KYC compliance, documenting the chosen banking services and account specifications, establishing the terms of the banking relationship, and ensuring compliance with State Bank of Pakistan regulations and relevant Pakistani laws including the Banking Companies Ordinance and Anti-Money Laundering Act. The form must be completed and verified before any banking relationship can commence, making it a crucial document in the customer onboarding process.
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1. Account Holder Information: Personal details including full name, father's/spouse's name, CNIC/passport number, date of birth, nationality, and residential status
2. Contact Details: Current residential address, permanent address, phone numbers, email address, and preferred mode of communication
3. Employment Information: Occupation details, employer name and address, source of income, and expected monthly turnover
4. Account Specifications: Type of account (savings/current), currency denomination, initial deposit amount
5. Operating Instructions: Account operating mandate (single/joint), specimen signatures, and instructions for account operation
6. Services Required: Selection of banking services like ATM card, checkbook, internet banking, mobile banking, SMS alerts
7. Declaration: Customer's declaration of information accuracy and acceptance of terms and conditions
1. Guardian Information: Required for minor accounts - details of the legal guardian including CNIC and relationship with minor
2. Business Account Details: Required for business accounts - includes business registration number, nature of business, and authorized signatories
3. Non-Resident Information: Required for non-resident accounts - includes overseas address, visa details, and purpose of account
4. Zakat Declaration: Optional section for Muslim account holders to declare Zakat exemption status
5. Joint Account Holder Information: Required for joint accounts - personal details of additional account holders
6. Foreign Account Tax Compliance: Required for US persons or those with US tax obligations - FATCA related declarations
1. Schedule A - Terms and Conditions: Detailed terms and conditions governing the account relationship
2. Schedule B - Schedule of Charges: List of applicable banking charges, fees, and commissions
3. Schedule C - Required Documents Checklist: List of mandatory and additional documents required for account opening
4. Appendix 1 - Specimen Signatures: Card containing specimen signatures of account holder(s) and operating instructions
5. Appendix 2 - Bank Internal Processing: For bank use only - includes risk categorization, approvals, and account number allocation
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking
Financial Services
Retail Banking
Corporate Banking
Islamic Banking
Fintech
Regulatory Compliance
Customer Service
Relevant Teams
Operations
Compliance
Legal
Customer Service
Risk Management
Branch Operations
Account Services
Documentation
Front Office
Back Office
Relevant Roles
Branch Manager
Banking Operations Manager
Compliance Officer
Customer Service Representative
Account Opening Officer
KYC Analyst
Risk Management Officer
Legal Counsel
Relationship Manager
Branch Operations Officer
Banking Services Manager
Documentation Specialist
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