Banking For Non-Bankers

Every one of us now a day is compelled to take services of a bank. Let it be  purchasing a house , getting an electric connection, water connection, admitting a child in a school, taking admission in any educational institution, applying for a job every where a bank's draft, a cheque or some other method of payment is pre- required without which nothing is found possible. In other words a Bank has become a necessity of our life in one way or the other way, In case you are getting some payment from any organization you will either receive a Bank cheque or a bank draft. In order to get the hard cash in your hands you need the services of a bank. Not only receiving money, even for making payments to some one else the services of a bank are required. In these circumstances every one of us is bound to avail the services of a bank for one or the other reasons. It has generally been found that the knowledge about the banking services is not available to the general people who under completion go to a bank. It is seen that most of the common people try not to go to a bank for want of knowledge. Some time a common person is afraid of using the banking services only because they fear whether or not the dealing with a bank are reliable. Most of the common persons even today rely upon postal services for upkeep of their meager savings. Today in days of internet banking most of the people still believe using the method of money orders through a post office to remit their money to their desired destinations. By and large now a day's at least one person from each home in urban areas is using  services of one or the other bank for whatsoever purpose. But it is seen the habit of dealing with a bank is still at its infant stage so far as a common man is concerned. In some cases it is found that even well educated persons do not know their bank. They are banking in a stereo type manner without knowing what is a bank, what does it do, and how to use banking services in best of their interest. In order to inculcate a habit of banking, its uses, its benefits, methods of banking practice, banking law and other related matters are going to be discussed in the coming chapters of this book. First of all I shall try to make the readers understand what a bank is. What does it do , how can one avail the banking services, How to open an account with a bank, what are the prerequisites to open an account and once an account has been opened what is relation with the bank and its customer. Usually common person is ignorant about his rights and is some times denied proper banking services for want of knowledge. It has therefore being made an effort to acquaint a common man about banking services available for them. In the light of what has been stated above it becomes of utmost important for a us to know what is a bank and does it do.