- 20 Marks
LPB – APR 2016 – L3 – Q1 – Banker-Customer Relationship and Duties
Explain the definition of a bank customer in banking law and list five duties a bank owes its customer.
Question
i. Explain what makes a person a bank’s customer in banking law terms, with reference to the Banking Act 673 of 2004, which does not define a “customer.”
ii. The opening of an account by a customer with a bank involves a contractual relationship with rights and obligations for both the bank and the customer. List five duties that a bank owes its customer.
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