United Bank Limited Internship Report 2010

8/4/2019 United Bank Limited Internship Report 2010

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INTERNSHIP CONCLUSIVE REPORT

INTERNEE NAME:

INTERNSHIP PERIOD:

Six WEEKS

BRANCH (ES):


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Contents of Report

Acknowledgment 3

UBL, where you come first 4Consumer Banking

UBL Address 4UBL BusinessLine 4

UBL CashLine 4UBL Credit Cards 4UBL Drive 5

UBL Money 5Commercial Banking

Agriculture Products 6Small Business Schemes 6

Investment and Saving AccountsUBL Basic Banking Account 7

UBL Business Partner (Current Account) 7PLS UniSaver 7

PLS UniSaver Plus 7UBL Rupee Transaction Account (PLS Saving) 7

UBL UniFlex 7eTransaction (Current Account) 8

UBL Profit COD 8Complementary Services

Insurance Certificate 10

UBL Wallet VISA 10UBL Orion 10UBL Net banking 11

Humrah 11UBL e-statement 11

My LearningsAccount Opening 12

Clearing of cheques 19Remittances

Demand Drafts 24Pay Orders 24

Uni Remote 24Security Deposit Receipts 25


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Acknowledgment

By the Grace of Almighty, the most Merciful, the most Beneficial, I'm today

submitting my internship report, at the end of my first pragmatic experience and I'm gladto have it with UBL, where you come first, only if you're the customer. Thirst of learning

is inside you, and whatever the environment, if you're willing to learn, you do. At UBL, Ihad a new, challenging, yet a perfect environment to learn. My parents' prayers and their

teachings were always with me and hereby I will like to take this opportunity to show mygratitude to all those who made my internship an adventurous outwit.

.

.Here I am, from more professional and rather corporate environment of UBL

C.C. Satellite town branch. I never knew what it all going to be. As I enter the branch, ittook me a minute to realize that the person sitting in the half fortified walls is the

manager. Maybe I was expecting him in a glass sheeted room. At a glance, I grasped theinteresting personality of the manager and today at the end of my internship; hes one of

the persons Ill always remember. Sir whatever I learnt from you is always going to berespected, no matter whatever business field I choose. Those tips are always in my

memory bag.Despite of the most hectic schedule, Maa'm Saiqa helped me so much. I'm really

grateful to you maa'm for clarifying my concepts and making me learn from yourexperience. Whatever I learnt from you will definitely help me in my upcoming study

and the professional life ahead. Thank you so much for being so co-operative and sohelpful every time. I hope maa'm I have been up to your expectations.

In the end, I'll like to thank all my other colleagues, Mr. Ghaffar, Mr. Mirza, Mr.

Latif, Maa'm Beenish and all my other fellow internees, here and in cantt branch, for theirunconditional support and help in making me learn in a good environment.Umair Javed


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Consumer Banking

You as an individual can gain and benefit the most through UBL Consumer Banking. In

UBL you get friendly, efficient and attentive personalized banking services - a unique banking relationship experienced by each UBL client. You can utilize the following

services.

UBL Address

Owning a house of your very own is a cherished dream. A lot of planning and hard work

is involved in making this dream come true. That is why, at UBL we aim to make yourdecision easier, by offering you the right ingredients that can help you realize your dream

with absolute convenience.

UBL Address empowers you to become the proud owner of a home by offering a varietyof product and pricing options that are flexible yet affordable. So choose the best product

option and pricing to suit your needs. All product options are amortized and range over atenor of 3-20 years.

Buying a home

Why rent when you can buy? Buying a home of your choice has never been so easy.

With a maximum financing limit of 80% you can easily buy a house or apartment that best fits your requirements. So go ahead and start the search for your dream home

because with easy and affordable installments you need not think of renting a house when

you have hot UBL Address.

UBL Business Line

UBL Businesslin a complete solution to all your Business Financing needs. With UBL

Business Financing facility, you can now take your business to greater and newer heights,and achieve the level of success that you truly deserve. UBL Businessline is a running

Finance facility that not only provides funds for growth but also enables you to capitalizeon profitable opportunities.

With UBL Businessline, now you will surely say. Ab Hui Kamiyaabi Meri Manzill.Now, UBL Businessline credit line is here to solve all your cash flow problems. You can

utilize up to Rs.10 million with the help of which you now focus on your businessexpansion and growth.


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UBL Cash line

UBL Cashline is a flexible loan that provides you cash up to Rs.500,000 without any

security requirements. It empowers you to take control of your finance. UBL Cashline isaimed to make your life easierZINDAGEE ASAAN. Whether you are a salaried

individual or a businessman, UBL Cash line takes care of your cash requirements.

UBL Credit CardWelcome to the world of UBL Credit Cards the most exciting and vibrant credit card

brand in Pakistan. We offer you a range of innovative and exciting cards that is not onlypowered by the security of chip but also enable you to personalize it any way you want

UBL Drive

Accelerate your life; Drive the way that suits you! UBL Drive is a unique auto financing

product which offers you features, option and flexibility unmatched by any other bank,because at UBL, You come firs t.

New Car FinancingUBL Drive allows you to drive away in your own car by making a down payment of just15% and to top that with low monthly installments.

Used Car FinancingWith UBL Drive you can buy favorite used car (up to 5 years old) at the most affordable

rates.

Cash Your Car

UBL Drive is not a car loan; its financing facility that gives you Cash on your car, youcan get up to 75% of your car value.

UBL MoneyUBL money, the personal installment loan from UBL provides you with power, Control

convenience and the flexibility to manage your financial requirements and realize on yourdreams.

Its about buying new furniture or marriage expenses, financing the education of yourchild or enjoying vacations abroad! UBL Money caters your needs handsomely. You can

borrow any sum between 50,000 to 500,000 (PKR) and payoff up till 5 years. We knowwhat you need at what time. Just give us the opportunity and let us serve you best.


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Other Services:y UBL Net Bankingy UBL e-statementy Hamrahy UBL Wallet

UBL Net Banking:UBL Net Banking is an internet banking portal offering a simple, convenient and

secure method of accessing bank accounts on the internet. Its never being so easy toaccess and manage your finances in a secure real-time, online environment

UBL e-statement:UBL is pleased to announce the launch of the UBL e-statement facility which it

easier for you to get your statement of accounts and automated transactional debit/creditalerts right into you inbox.

Hamrah:UBL has always been adding the forefront in identifying and meeting the

financial needs of its valued customers. UBL was a pioneers an introducing Rupee

Travelers Cheque facility in Pakistan, as early as 1971. In continuation of the sametradition, UBL in the shape of, HAMRAH Rupee Travellers Cheque enhances this

facility for the convenience of its valued customers by offering denomination up toRupees 10,000.

UBL has a 24 hours customers help-line, providing its customers with round the clock

tele-verification of HAMRAH Rupee Travellers Cheques.

UBL Wallet:UBL Wallet VISA as your debit card, you can shop all you want, eat all you can

or fill up car tank without carrying any cash.

Commercial Banking

To stand tall among the worlds leading banks, UBL has developed a YOU

attitude to understand its customers well. When you talk, we speak for you. For small andmiddle size investors, UBL has so much to offer, so much to deliver. You live the way

you want; we will always be shadowing you. Walk in to any nearest branch of UBL,enter the world class bank and let us serve you with what you need.


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Small Business SchemeUnder the Small Business Scheme, UBL is providing loans on easy terms to those

who wish to set up their own small-scale business. This scheme is aimed at spreadingprosperity in the country by reducing unemployment.

As more and more people start their own industrial units, the country will movesteadily towards economic self-reliance.


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Investment and Saving Accounts:

At UBL, we offer you the most beneficial and secured financial investment andsaving options. You can choose from the following list of accounts anything that serve

your needs best.

UBL Basic Banking AccountExempted from Minimum Balance charges, UBL BBA holders can carry out two

deposits and two withdrawals each month as per the bank policy. Through 24hrsATM services, they can carry out transactions as and when desired, staying in the

daily withdrawal limit.

UBL Business Partner (Current Account)For our regular customers, we offer the ultimate option, UBL Business Partner

(Current Account). With unlimited deposits and withdrawals, we offer you

convenience of UBL netbanking, UBL Wallet, UBL Orion and other excitingconsumer products. Customers are liable to maintain minimum balance of Rs. 10000to avoid the minimum balance charges until and unless they are exempted from it.

Remember! We are not just a business; we are your caretakers; we know what youneed.

PLS UniSaver

Let your savings earn you bucks. PLS UniSaver offers you semi annually profitdisbursement with profit being calculated upon average monthly balance.

PLS UniSaver Plus

Big amounts earn you big; but with PLS UniSaver Plus, we make it bigger for you.With deposits starting from Rs. 25 million, we offer 5.00% but more you put in, more

profit rate will we offer.

Avg Balance per month Profit Rate*

Rs. 25 million 5.00%

Rs. 25 million to Rs. 100 million 5.10%



Above Rs. 500 million 5.50%

* Profit rates are for the month of July only


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UBL Rupee Transaction Account (PLS Saving)

Have your money box at UBL! Put in your savings and let us earn you 5% p.a. overyour daily savings.

UBL UniFlex

Have couple of thousands spare? Come invest in our UBL UniFlex Accounts, we willmake you earn handsome.

Amount Profit Rate

1000-50000 7.0%

50001-100000 7.25%

100001-200000 7.5%

With UBL UniFlex, we serve you with fix profit rates at maturity.

E-Transaction (Current Account)In the era of glooming computerization, even Chicago, Tokyo, Sydney, all are

seconds away from you. Internet has turned distance into time, and we have turnedyour account into a shear pleasure. Now sitting at home, or at office or anywhere in

the world, we offer you a wide spectrum of world-class electronic services andbanking products each time you log in. Use your account like a regular account plus

use the premium Internet & Mobile banking services for Instant Fund Transfers,Instant Shopping, Instant Bill payments, Instant Mobile top ups, Alerts, Statements

and much more. You love surfing, come surf with UBL.

UBL Profit CODMake fix investment with us, choose your profit option, and we will serve you the

best rates in Pakistan. What if you earn at 16.25% p.a. Stop imagining, come invest inour Certificates of Deposit! At maturity, we offer you the following rates:


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Deposit Tiers & Products Jul 1 Jul 31, 2008

3 months 8.25%

6 months 8.50%

1 year 9.50%

2 years 11.50%

3 years 12.75%

4 years 13.25%

5 years 13.75%

6 years 14.25%

7 years 14.75%

8 years 15.25%

9 years 15.75%

10 years 16.25%


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Complementary Services

Insurance Certificate

UBL not only cares about you, we care about those too who are dependent uponyou. So UBL now offers enhanced Free Accidental and Disability Insurance Certificate

coverage to all existing and new account holders.

Closing Balance at month end

(PKR)

Insurance Limit (PKR)*

1 10,000 100,000

10,001 100,000 250,000

100,001 500,000 500,000

500,001 and above 1,000,000

* Terms and conditions apply

UBL Wallet VISAImagine you are shopping in a big mall and you are ever so watchful about your

cash in your wallet. Every time you shop, you're in a mess! Let UBL Wallet Visa easeyour shopping. Shop around and pay your expenses directly from your account through

UBL Wallet. Not only can this, individuals and sole proprietors, through more than 925ATM machines, debit their accounts as many times as they want. You can choose

according to your need. We offer

CardType

Annual fee (Rs.) Daily Limits (Rs.)

Primary Supplementary ATM

Withdrawal

Debit Card

Spend

Funds Transfer(From UBL to UBL)

Funds Transfer(From UBL to other

banks)

Gold 500 250 40,000 100,000 250,000 250,000

Silver 300 150 20,000 50,000 250,000 250,000

Moreover, the convenience and excitement of Internet Shopping is also available

at UBL Wallet VISA ATM/ Debit Card. So surf around and feel free to shop. We are

here to help you pay miles away.

UBL Orion

Buy W100! (Message tone)

Dear customeryour voucher # is 1456894525796324

Thankyou forusing Orion


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Your finger tips might have not been that powerful before. Just type in commands

and at your ease, buy mobile cards and pay your utility bills. With UBL Orion MobileWallet, running around for mobile cards and queuing to pay your utility Bills is no longer

a part of your life. Live your life at your finger tips.

UBL Net bankingUBL is very much determinant to make banking as you will. How about being in

office, or on your way, at home or at anywhere in the world but still connected to youraccount! Through UBL NetBanking, Access your accounts any time, pay anyone you

want, pay your bills, buy vouchers you need and get account alerts, all integrated withone of the best security systems in the world.

Humrah

Humrah is your secured cash, something thats safe anywhere and acceptedeverywhere. Offered in the denominations of 10,000 and 5,000, "Hamrah" RupeeTraveller Cheques are the ideal and safest way of carrying cash when travelling anywhere

in Pakistan. Let it be business; property; trade or personal needs; we make you have themost convenient option. Moreover, Humrah RTC's are now accepted at more than 2000

places such as hotels, shops, real estate agents, jewelers, car dealers, etc and of course atall our UBL branches.

UBL e-statement:

During your busy hours, you dont have to bother about visiting us to get your

account statement. Neither theres a risk of anyone else knowing your account details.Subscribe today, free of cost to UBL e-statement facility and let us share details with you

daily, weekly, monthly, quarter or semi-annually. Get debit/credit alerts and know assoon as you get money or pay off.


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My learnings

Standing on the forth floor of UBL Islamabad head office, I heard the good news

of me having a six week opportunity to interact with a world class bank. All these sixweeks were full of events, full of learning and most importantly full of professional

working. Here 'professional' regards in all from clerical to managerial work. In these sixweeks period, the best thing to me was the authority and dependency of customers upon

me, when they come with a hope that I'm there to guide them through. Knowing all is notlearning, the real learning is to convey right. I tried to learn real, see real UBL, and triedto comprehend the difference between what we look from outside and what is going on

inside.UBL is full of experienced and professional traditional bankers. As it perfectly

suit the environment we are operating in, You attitude has helped UBL in capturingmasses. In the private sector, no doubt its a fast growing bank, but here's something that's

still unrealistic to the policy makers. The line of unsatisfied customers is increasing, notbecause we are not serving well, it's because customers are not understanding the YOU

attitude right. Every customer wants to make sure his work is done at the firstconvenience, but they are not concerned about the responsibility with which every

employee is working. We need to put in some guidelines for our customers, as they walkin. This will not only save their time but will also motivate staff members to work more

promptly, because if customer and employee engage into some unhealthy quarrel, thewhole environment will be disturbed.

Back to my real learnings. In my six week internship, I worked in customerservice department, as well as in clearing department. Because of some work load, I was

unable to learn much about other cash and accounting department. Here is my count

down learning of six weeks.

Account Opening:

Penning down information and keying it into the system does seem a simple andtedious job but it is not. My initial five days at customer service department was the

liveliest experience of my internship. Though physically I was there just to assist theaccount opening officer, but it turned out to be much more for me. That is when I first

actually imitated as a presenter of UBL to customers, when to many people, I'm theirhope.

UBL offers a variety of options for anyone; to everyone. You are an investor,regular businessman, middle man, salaried person or a house wife; UBL serve you in

every way it can through its commendable and reliable services, because at UBL, YOUcome first.

Working at Customer Service Department, I did counter with different types ofcustomer and opened their accounts under the supervision of the officer. When you have

the sole responsibility to open the accounts, it's always very important to understand theneeds of your customer. Understanding the psyche of customer is very important. Until


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and unless you're completely satisfied that the customer has genuine reason and need to

open the account, don't do so.

Account

Open

ing Form:In all the documentation within the bank, clearness and tidiness are the major

features. Over writing and cutting should always be avoided as it may lead to anymisinterpretation. Account Opening Form is the most important documentation when a

customer walks in for commercial banking and wants to develop a relationship with us.In AOF, all the necessary information should be completely scrutinized before the

customer walks back. Now lets look at some of the salient requirements of AOF andtheir importance.

Currency and Type of Account

It offers you all the eight different types of accounts mentioned before. First

understand why the customer is here and what type of account suits him a lot. Scale downall the options suiting his investment or requirement and help him choose what is best forhim. Outline all the salient features of that particular account to him and make him tick

the best box.Mark the currency box if the customer wishes to deposit in currency, in case,

other than PKR.

Nature of AccountUnderstand and choose the desired nature of account.

Individual Account (Single/Joint) determines if the account is personal or joint. Once

again understand your customer here. Illiterate and gullible customers should better optfor joint account for their own security.

Particulars of Account

First of all the title of account is entered by which it will be called off.Following is the Key/Secret Word of six characters which is mostly preferred to

be mothers name because its simple unforgettable. Key word is used to verifythe customer on phone or while other subsequent inquiries. Next comes the

mailing address; where the bank should mail anything it has to. Next is thepermanent address of the customer which should be copied from the CNIC of the

customer. E-mail address is mandatory for Net banking and e-statement facilitywhereas Mobile number for mobile banking. Lastly its your choice to hold your

statements for collection or mail it to you.*Here make sure mandatory fields are entered and any valid contact

number must be provided.


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PersonalInformation

Following portion summarizes social with standing of a person.Applicants name, Fathers or husbands name, gender, marital status, Date of

birth, nationality, country of residence and identification source and its numbershould be enter. Make sure the source of identification is not expired. Enter NTN

if available. Know the occupation of the applicant and check the respected box.In case there is more than one account applicant, fill in all the above

mentioned information for other applicant as well.*Its a good practice to ask for the original identification source of the

customer and pen down the number and expiry date directly from it.

Next of KinIn case if the account holder is somehow not contacted, this portion

provides information of the person who should be contacted instead. Persons

name, relationship, address and Telephone number should be provided.

Business Accountdetermines that the party has its own entity under which the account

will be supervised. Match the respected category and check the box.

Particulars of AccountHere the information about the business is filled in. Title of account,

company/business name, and nature of business, office/mailing address, headoffice /registered address, office email and NTN are mandatory information

required for business account. CNIC is required in case of sole proprietor ship andinformation of few persons are required who can be contacted in case of

companies. Here we need to know that who will be operating the companyaccounts.

AdditionalInformation

Existing relationship with UBLIn case if the customer already has some relationship with UBL, it should

be mentioned here. This is just in case to formally know and cross check thecustomers provided information.

Existing relationship with other banks

This is to know what relationship the customer has with other banks, ifany.

UBL Wallet ATM/Debit Card

Here first define your customer what ATM card is, what are its featuresand what is the difference between its different options. Enter the name of the

customer in Name on card field. Then is the option of supplementary ATM card.


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A customer can issue up to 9 supplementary cards. If supplementary card is

required, a UBL Wallet VISA card requisition form is filled in which detailsabout supplementary card holders is penned.

Zakat Deduction (only on PLS A/C)

PLS account holders can directly pay Zakat from their accounts, if theyare willing to.

Other UBL Products

Account holders can opt for UBL Netbanking, UBL Orion, Credit card,Personal loan, Car Financing, Mortgage and Business Finance.

OperatingInstructions

This identifies the signing authority of the account. It can be operated

singly, either or survivor, jointly, mandate or by any other in special cases.

Statement of Accounts

This specifies how early the account statement is required. It can be daily,weekly, monthly, quarterly or semi annually. Customers can choose Mail or e

Statement or both.

SpecialInstructionsSpecial instructions, if any, are registered here. It usually certifies further

the operating instructions of the account.

Account referred byDetail of person referring the customer is entered here.

Terms and Conditions

These terms and conditions outline the policy of bank about its accountsregulations. Abidance by state bank laws and banks policy is compulsory and

customers signature at the end of the statement is his abidance by the law

Indemnity and UndertakingHere the customer agree by the bank policies and agree to its terms.

Applicant sign the undertaking and officially agrees to be a part of UBL.*As an account opening officer, you must enclose all the signatures and

should verify them. Every cutting on the AOF should be verified by customer'ssignature, and officer should verify the customer's signature.


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For Bank Use Only

Special Category of AccountIf the account is of minor, UBL staff, Illiterate, Blind or Registered Alien,

it should be checked respectively. Passport size Photographs are required in thiscase and customer can only make the transaction personally. Make sure signatures

are not too simple or shaky. If so, again passport size photographs may berequired and transactions can only be made personally for customer's own

security.

Service ChargesThis is the minimum balance penalty which is applicable to all except

students, mustahiqueen of zakat and government employees' salary or pensionpurpose accounts

Know You CustomerHere's an assessment that the account opening officer do in order tounderstand some aspects of the new customer relationship.

Individual Account

The customer is marked as walk in, marketed or a referral; he/she is apublic figure or not. Moreover what will be the customer's sources of funds. What

would be the usual mode of transaction and what would be the intentions ofaccount with UBL. Who will be the ultimate beneficiary and what is the

approximate value of transaction per month.

Business AccountThe customer is marked as a walk in, marketed or referred customer.

Name of parent and other companies are entered. Geographical area of activity ismentioned. How the business earn is mentioned to know the business type. Then

similarly mode of transaction, ultimate beneficiary, initial deposit andapproximate maximum value of transaction per month is recorded.

*Finally after fulfilling all the necessary requirements, the officer here byrecommend to open the account of the customer.

Documentation to be obtained

Individuals

Photocopy of CNIC/Alien Registration No./ passportPhotocopy of service card/employment card/student card

Sole Proprietorship

As above and NTN/Sales Tax Registration Certificate


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Application to open account on sole proprietorship letter head

Rubber stamp of sole proprietorship to be affixed on AOF and SSC.

PartnershipPhotocopy of CNIC of all partners

Application to open account on partnership letter head signed by allpartners

Attested copy of Partnership deedCopy of Registration certificate with Registrar of Firms

Authority letter in favor of person responsible to operate the account.Rubber stamp of partnership to be affixed on AOF and SSC.

Joint Stock Companies

Certified copies of:

Resolution of BoDs for opening of account and certifying the personresponsible to operate itMemorandum and Article of Association

Certificate of Incorporation and Commencement of businessCNIC of all the directors

NTN/Sales Tax Registration CertificateRubber stamp of Company to be affixed on all documentation

Clubs, Societies and Associations

Certified copies of:Certificate of registration

By-Laws/Rules and RegulationsResolution of governing body to open an account, certifying the person

responsible to operate it.NTN/Sales Tax Registration Certificate

Rubber stamp of Company to be affixed on all documentation

Agent AccountsCertified copy of 'Power of Attorney'

Photocopy of CNIC

Trust AccountsPhotocopy of Certificate of Registration

Photocopy of CNIC of all trustiesCertified copy of instrument of trust

Executors and Administrators

Photocopy of CNIC ofExecutor/Administrator


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Certified copy of Letter of Administration or Probate

Specimen Signature Card (SSC)

Whenever a customer visit us to make a transaction, we cannot all the time verifyhis signature by AOF. For this purpose SSC is signed and then scanned into the system.

So whenever the signature requires verification, it can be done through systems next toemployees. SSC comprises of Branch code, A/C No., date, customer's name, special

instructions and two signatures.

Cheque BookRequisition FormAt the opening of account, this form is filled, identifying the account number,

number of leaves and whether to hold cheque book for collection or to mail it.

Letter of thank

sA letter of thanks is dispatched to the mailing address of the new account holderand its copy is attached to the AOF. Actually this letter of thanks is for the confirmation

of this fact that customer actually lives at the mentioned address.


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Clearing ofcheques:

Outward Clearing

My experience at C.C S.Town branch started from the clearing

department. Right in the morning cheques collected from the drop box simplyflood over my table. According to all I learnt through listening, viewing and

questioning is summarized below.

Documentation of Consumer Cheques:

All the cheques collected are first categorized into

o Credit Cardso Auto Loanso Personal Loanso Cash Line

Having categorized, firstly loan number of each cheque is verified. For the

verification of the prescribed loan number, following ledgers are credited

Credit Cards G3540223

Personal Loans G3540627

Auto Loans G3540601

Cash Line G5610014 (Head Office)

Verified cheques are then validated before being documented into the drop boxcollection sheet for our daily drop box collections record. To anticipate the

approval of cheques, we need to validate some important specifications of all thecheques. They are:

y Date: Cheque should not be post dated or out of date.y Figures: Amount in words and figures should match.y Signature: Drawers signature must be clear.y Intercity: Cheques must not be of other cities. Intercity clearing

cheques for consumer departments are not entertained

y Payees Name: Payees name should be written, and endorsementshould be as per the beneficiary of the cheque.

y There should be no over writing in every thing penned.All the filtered cheques are then entered into the collection sheet in which

following information is entered.


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y Cheque No.y Name of banky Name of Customery Loan No.y Amounty Document No.

All the documented consumer cheques are then posted into the system.

Posting of the Consumer Cheques

For clearing, we opt for second option in Banking category, and after entering the

posting date, clearing date and transfer delivery date, we opt for single entryoption. Now all the cheques are credited in the clearing schedule in their

prescribed ledgers.

Credit Cards G3540223Personal Loans G3540627

Auto Loans G3540601Cash Line G3590991 (Miscellaneous)

Credit Cards Cheques: G3540223

During the posting, following fields are keyed in

Debit/Credit

Account NumberBankBranch

Credit Card NumberCheque Number

Amount

Personal Loans Cheques: G3540627During the posting, following fields are keyed in

Debit/Credit

Account NumberBank

BranchTransaction Type (Loan Repayment)

Personal Loan NumberCheque Number


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Amount

Auto Loans Cheques: G3540601


Debit/CreditAccount Number

BankBranch

Transaction Type (Loan Repayment)Auto Loan Number

Cheque NumberAmount

Cash Line Cheques: G3590991 (M

iscellaneous)


Debit/Credit

Account NumberBank

BranchCheque Number

Amount

Cash Line Cheques are posted into Miscellaneous Sundry account whenthey are forwarded for clearing and, on clearance; they are transferred to

head office (G5610014; Tr # 60) where all those cheques are credited totheir respective accounts.

Customer Accounts:


Debit/Credit

Account NumberBank

BranchCheque Number

Amount


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After entering the details into the system, we can accept, modify and reject

it. As soon as entry is accepted, computer generated document number isassigned.

* In case further modification is required, it can be done at clearing

modification option under clearing schedule.

Following the completion of posting of cheques, an add list is prepared tocalculate the total amount of cheques which is further cross-checked with the

clearing display on the system. As cheques can be either of Rawalpindi orIslamabad, so separate add lists are prepared and enclosed with the cheques in the

NIFT envelopes.In other case, if cheque is of city other than Rawalpindi and Islamabad, it's

either sent in intercity clearing or as OBC (Outward Bill Collection). Intercity is

presented through NIFT whereas OBC is either sent through Courier orDispatched to the desired branch of the bank.Stamps in each case is as follows

Types ofcheques Stamps over cheques Endorsement

Local - Consumer y Crossingy Clearing Received Payment

Local Commercial y Crossingy Clearing Payee's Account Credited

Intercity y Crossingy Clearingy Intercity Clearing

Payee's Account will be

Credited upon realization.

OBC y Crossingy OBC Number

Payee's Account will be

Credited upon realization.

Cleared ChequesNow the next day when clearing is confirmed by NIFT, respected accounts are

debited. We go into the banking option and in transfer, we debit all the respectedaccounts. Same is the case with intercity and OBC cheques.

In documentation, debit and credit vouchers are made, which show total amount

of clearing as per day.

Returned Cheques

All the cheques which are returned, due to any reason, are then reversed. They aredebited back in the clearing schedule. All the returned cheques are documented in the


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cheque return registers and all the account holders of returned cheques are charged with

service penalty.

*All the vouchers are signed by the designated officer and all the entries over50,000 are supervised


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Remittances:

Demand Draft

DDs are always a secure way of paying remittances in other cities. Bothaccount holders and walk in customers can avail the facility of DDs. Charges tend

to differ for both customers but the advantage tend to be same. DDs are made inthe favour of beneficiary and remitter either pays in cash or through cheque.

Charges for DDs are

Up to Rs. 100,000/- 0.10%, Min Rs. 100 for A/C holders

0.20%, Min Rs. 200 for Non A/C holders

Over Rs. 100,000/- 0.05%, Min Rs. 150 for A/C holders

0.15%, Min Rs. 250 for Non A/.C holders

Issuance of duplicate DD Rs. 150 for A/C holdersRs. 250 for Non A/.C holders

When DDs are issued, head office account are debited and remittersaccount is credited, on presentation, head office account is credited and

beneficiary's account is debited.

Pay OrderPOs are another safe way of paying your remittances within the city. They

are payable at any branch and then are forwarded for clearing. There charges are

Issuance of PO Rs. 75 for A/C holdersRs. 250 for Non A/C holders

Cancellation of PO Rs. 75 for A/C holders

Rs. 250 for Non A/.C holders

Issuance of duplicate PO Rs. 150 for A/C holders

Rs. 300 for Non A/.C holders

In case of PO, remitter account is credited and PO A/C of branch isdebited. At presentation, Beneficiary is debited and PO A/C of branch is credited.

Uni RemoteUni Remote is the online facility of depositing cash to any account in

UBL. With on-line banking, you are connected to the complete network of UBL

all over Pakistan. Uni Remote charges are Rs. 200 for cash withdrawal and Rs.100 for cash deposit.


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Security Deposit Receipts (SDR)

Security deposit Receipts are your safe way of making payments. Not onlyits free of cost for A/C holders, it also offers you the best liquidity solution as the

cash continues to be with you until and unless your deal gets final and you payoff. In case of cancellation, it's also free of cost for A/C holders and their amount

is returned to their normal account balance.*for non A/C holders, Rs. 250 is charged. Duplicate fee is Rs. 250 (flat)

Date post:	07-Apr-2018
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United Bank Limited Internship Report 2010

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