Opening and closing of accounts

               The following are the most important procedures in operating the SB scheme in POs. It has been observed that most of the rules on the subject are being violated by the HO/SOs.  If this situation is  allowed to continue it will give room for frauds, excess/short payments etc.  Hence it is requested to cause necessary instructions to all concerned suitably in this regard. In case of any omissions/commissions objections  will be raised by SBCO accordingly and any serious case, It will be reported to Postmaster, Divisional Head.

A.    Opening of New Account:

1.       SB 103 pay in slip should be used for SB/RD/TD/MIS. Only the prescribed forms should be used in respect of PPF and SCSS scheme of accounts.

2.       New Account no, Depositor name should be noted invariably in SB 103.

3.       Deposit amount should be written in Words and Figures.

4.       Date stamp, Accepting official signature, depositor signature are mandatory.

5.       There should not be any corrections/over writings in the pay in slip, especially in money column.

6.       Similarly, corrections/over writings should be avoided in pass book entries also.

7.       In case of Minor accounts, the DOB of the Minor should invariably be obtained in the SB 3.  Only the persons authorized in the rules should be permitted to be the Guardian of the minor depositor.

8.       Only the current SB 3 form should be used for opening of New accounts.

In case of SO, SB/TD/PPF account opening form should be sent to HO. RD/MIS/SCSS account opening form with KYC documents(Photo, Photo ID, Address proof) should be preserved at the  SO itself.  The SPMs will be personally held personally responsible for any lapse in this regard.

In case of HO, new account opening form with KYC documents should be preserved at HO itself.

B.    Accepting of deposit:

1.       Pay in slip should be used according to the category of the account.

2.        Account no, Depositor name should be noted in SB 103 without any corrections/over writings.

3.   Deposit amount should be written in Words and Figures without any corrections/alterations.  The BAT/DLT should be noted by the HO/SO, without giving room for any suspicion.

4.       Date stamp, Accepting official’s signature, remitter’s signature are mandatory.

If any omission found in any of above said points, Passbook along with copy of ledger card will be called for verification.

5.        If the deposit is made through cheque, the full particulars of the cheque should be got noted in the pay in slip.

C.     Allowing of withdrawal:

1.       SB 7 should be used for wdl. In SA/RD/TD/MIAS/NSS category of accounts and other forms as specified in the rules for other respective category of accounts (like PPF/SCSS) alone should be used.

2.       Account no should invariably be got noted in SB 7.

3.        Amount of withdrawal (words and figures) should be got noted in application side without any corrections/over writings.

4.       Balance after withdrawal should be got noted application side.

5.       Depositor Signature/LTI (Left thumb Impression for Illiterate account) should be obtained application side as well as acquaintance side.

6.       In case of LTI (Left thumb Impression for Illiterate account), appropriate Certificate(s) by the withness(es) should be obtained in the application side as well as in the receipt side with full address of the witness(es).

7.       Application side should be verified by PA as well as SPM/APM in all aspects. Initial of PA /SPM should be available in Application side in token of having verified the signature of the depositor.

8.       Signature of depositor should be verified both by the PA and SPM/APM in case of withdrawals exceeding Rs.5000/-.

9.       Payment order should be filled up with amount of withdrawal, in words and figure, with date stamp, SPM/APM signature.

10. Acquaintance side should be filled up with words and figure; the signature of the  Depositor/messenger (or Signature/LTI(Left     thumb Impression for Illiterate account) should be obtained.

11. In case of withdrawal from an account opened by illiterate depositor, the required certificates by the  Witness(es) should be obtained along with the  Name and full postal address of the witness in  both sides of SB 7.

12. In case of messenger, messenger signature should be obtained in application side as well as acquaintance side.

13.In case of withdrawal from  Minor account,  the guardian should furnished the required certificate in the SB 7.

d.     Closing of Account:

1.      SB 7-A closure form should be used or any other specified forms in
POSB manual for PPF/SCSS.
2.      Account no should be noted in SB7A.
3.       Amount of closure (words and figures) should be noted in application.
4.      Depositor Signature/LTI (Left thumb Impression for Illiterate
account) should be obtained application side as well as acquaintance
side.
5.      In case of LTI (Left thumb Impression for Illiterate account),
Witness Certificate, witness signature, witness Name and postal
address should obtained in application side as well as acquaintance
side.
6.      Application side should be verified by PA as well as SPM/APM.
Initial of PA as well as SPM/APM should be available in Application
side.
7.      Signature of depositor should be verified by both PA and SPM/APM
with SS verified remark and Initial of both PA and APM/SPM.
8.      Payment order should be filled up with amount of allowing payment
(principle, interest, PMI, RDF, Loan, Loan interest, Total), total
amount of payment order in words and figure with date stamp, SPM/APM
signature, and designation seal.
9. Acquaintance should be filled up with words and figure, and
Depositor Signature/ LTI (Left     thumb Impression for Illiterate
account) should be obtained.
10. In case of LTI (Left thumb Impression for Illiterate account),
Witness Certificate, witness signature, witness Name and postal
address should obtained acquaintance side.
11. In case of messenger, messenger signature should be obtained in
application side as well as acquaintance side.
12. for Minor account, minor account certificate is mandatory.
13. SB3 card with KYC document (Photo, Photo ID, Address proof) should
be attached with   SB7-A.if original SB3 card are not available
,revised SB3 with KYC document should be attached.
          If closure amount above Rs.50000, PAN card Xerox or form 60/61
is mandatory.
14. In case of RD/MIS/SCSS, single/double handed Sub office account
closure, Passbook also attached with SB7-A.
15. if closure amount is above Rs.20000, cheque no or SB credit
account should be noted in SB7A.
16.if account is closed via messenger,cash payment should not be made.crossed payment only. cheque no should be noted in SB7A.

LOT Preparation :

1. Sanchay Post LOT print must be taken .(Manual LOT should not be prepared in Computerized Office)

2.SPM Signature with Designation seal must be affixed at bottom of LOT.

3.Date stamp impression  is mandatory in LOT.

4.There should not be any manual correction in computerized LOT.

5.There should not be Manual Addition and deletion in Computerized LOT .

6.Salary List , Pension List,SB auto credit list from MIS ,RD auto credit list from SB,SB auto credit list from SCSS, must be attached with SB LOT.

7.SB auto credit list from MIS must be attached with MIS LOT .

8.RD auto credit list from SB must be attached with RD LOT.

9.SB auto credit list from SCSS must be attached with SCSS LOT.          IF ANY OMISSION FOUND ,OBJECTION WILL BE RASIED BY SB/SBCO BRANCH

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OMs : IMPORTANT INSTRUCTIONS

                       This is regarding omissions, commissions and mistakes occurring in SB transactions  and  the reasons for raising OMs. These are brought  to your notice  for future guidance, strict compliance and to  avoid such mistakes in future.  All SPMs are directed to pay additional efforts to minimize these mistakes and reduce the number of OMs.

                    

1.    The vouchers should be serially arranged, stitched and sealed intact.

2.    In case of CBS office, the vouchers should be arranged by the transaction ID wise.

3.    In respect of withdrawals allowed at Sub Office, compulsorily the SS should be verified by the SB counter PA irrespective of the amount.  When the amount exceeds Rs.5000/-,  SPM also should verify and put his full signature in the appropriate place in token of having verified.

4.    The BAT and DLT should be noted in all vouchers after verifying its correctness with PassBook  and System.

5.    Closure vouchers (SB - 7A )  should invariably attached with  SB-3 card and KYC documents.

6.    All payment of the deceased claim case should invariably be made only by crossed cheque. ( SB Order 25/2010 ).

7.    Date stamps should be impressed legibly in the SB3 cards, LOTs and vouchers.

8.    The Closed RD Passbooks are to be sent along with the closed warrants in respect of Single handed Offices and Sub offices manned by single individual in B Class offices.

9.    When the amount of  withdrawal exceeds Rs.20,000/-,  payment should  be effected only by cheque  or by giving credit in Savings account of the depositor,  where the Cheque   Number or SB A/C Number should be noted in the acquaintance portion of the SB-7/SB-7(a).

10.  SB-103 and SB-7 should be prepared and attached along with regular voucher for automatic credit from MIS to SB and SB to RD.  Vouchers for MIS auto credit to SB accounts is to be attached.

11.  List of holidays should be configured in the SO system then and there to avoid non-accounting of auto credits on holidays.

12.  All RD bulk list are to be attached with the LOT, where the new account numbers should be invariably noted in RED INK.

13.  Normally Messenger service is not allowed for all Closure. ( Dte Order No 15/2010). When it is specifically required, the Payment should be made to the messenger only through account payee cheque drawn in favour of the depositor, after receiving the letter of authorization from the depositor.

14.  In case of transfer, the AT/SB-10B for local should be returned immediately to HO after assigning the number and opening the same at your end.

15.  RD bulk postings are to be made on the same day of acceptance.

16.  Necessary certificate should be obtained both on the application and payment order side, while making payment made to illiterate depositor Witness should be obtained with full address.

17.  As CBS is on the way to roll out, all depositor should have a SB account to credit their interest in the respective due dates.

18.  For all accounts opened, registration of nomination is compulsory.  Witness should be obtained with full address.  In case of minor is nominated, a guardian should be appointed to receive the money during the minority of minor.

19.  When the deposit/withdrawal exceeds Rs.50,000/-, PAN particulars/form-60/form-61 to be obtained.

              It is hereby directed to follow the above instructions, besides the rules and instructions issued by the department then and there. It is to be noted that, the rules framed and instruction issued by the department from time to time will supersede the above instruction and always hold good.     

                                                                                                        

                                                                                                                      

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SAVINGS BANK DAY

Savings Bank Day was celebrated with vigour at Suramangalam HO, Rasipuram SO and Metturdam SO on 10.10.2014. 2590 new accounts were opened on the day in the Division. As part of celebration of International Girl child day on 11.10.2014, 2341 new accounts were opened in the Division.

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SAVINGS BANK DAY

Postmasters and all SPMs are requested to achieve the target allotted to them for opening of new accounts by women / girl children on the occasion of International girl child day on 11.10.14 and by all persons on Savings bank day on 10.10.14. Circle Office has intimated that ten lucky women / girl children will be chosen through a lucky draw and prizes will be distributed. This may be brought to the notice of girls / women and members of public.

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