- 8 Marks
Question
Mrs. Ore Nnaji recently opened a bank account and wonders what rights and duties she has on her account.
Required:
State FOUR duties of a bank customer.
Answer
- Duty to Maintain a Sufficient Balance: The customer must ensure that there is sufficient balance in their account to cover withdrawals and issued cheques.
- Duty to Examine Account Statements: The customer should regularly review account statements for any discrepancies and report them promptly to the bank.
- Duty to Safeguard Cheques: The customer must take reasonable care to prevent forged or unauthorized cheques from being issued or cashed.
- Duty to Notify the Bank of Changes: The customer is responsible for informing the bank of any changes in their personal details, such as their address or contact information.
- Tags: Bank Customer, Banking Law, Duties
- Level: Level 1
- Topic: Law Relating to Banking
- Series: MAY 2022
- Uploader: Kwame Aikins