OPERATING BANKINGS ACCOUNT PROBLEMS AND SOLUTION. A RESEARCH PROJECT MATERIAL ON BANKING AND FINANCE
ABSTRACT
The operating bank account problem and solution is aimed at determine the various problems banks are accounting in operating their account. The central concern of this work is to study these problem banks uncounted in operating their customer account in the bank and proffer solution to checkmate them.
In the process of trying to find out these issues, other works were reviewed in addition to the fieldwork and interviews, which were carried out. Through the oral interview to the various operator of banks.
The oral interview were administered to find out the following facts
- Whether there is any alterative on the requirement bank demands before opening account for their customer
- Whether phone banking were apply in banking system for time safe
- Whether overdraft should be given to the customer of the bank
- Whether the service rendered by bank is encourageable by their customers
- Information were collected, presented, and analyzed
From the analysis of the data, the major findings were:
That the customer of the bank prefer to operating saving account in the bank than current account.
CHAPTER ONE
INTRODUCTION
1.1 STATEMENT OF PROBLEM AND PURPOSE OF THE STUDY
Several problems are encounter by individual while operating bank account this project will study these problems and proffer solution to checkmate them.
It includes such practices as fraudulent activities and mismanagement by bank officials, poor, liquidity and unavailability of adequate credits to describing customers.
1.2 RATIONALE OF THE STUDY
People have often been expressing their dissatisfaction over the hindrance they encounter while operating bank account. Such as time wastage, inefficiency and unreliability high interest rate etc. on a personal experience I had encounter a situation where the requirement for opening an account where too numerous and irrelevant. However bank also have their own problem they encounter in meeting up the demand for the service they promise to render to their customer due to a number of reason such as poor liquidity, bad debt, capitalization reserve etc. in this regard, it interested me to look at these problems encounter by both parties (banks and customer). The cause and how they can be reduce or eradicated.
1.3 SIGNIFICANCE OF THE STUDY
The study in this project will benefit the bank and customer, because it will proffer solution to the problems banks and their customer encountering in operation. Some of these include poor liquidity in operating the customers account, and loan issued to their customer which often turn to bad debt, that is debt that bank cannot recover from their customer.
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