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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Current accout

Current accout

+10
npc86
Meta Trader
ndnk
smallville
dilanka
Slstock
ruwa925
Fresher
Gaja
mjrocker
14 posters

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1Current accout Empty Current accout Sat Mar 05, 2011 11:18 pm

mjrocker


Senior Equity Analytic
Senior Equity Analytic

I am a small investor.I invested only around 1Mn.Because of the IPO I need to get bank drafs but it cost more money time etc..
Because of that I decided to open a current account.But I have a problem which bank is best to open a current accout.Most of the bank asking around 2.5k to 50k minimum diposit to open a account.
HNB 10K
SAMP 15K
COMB 10K
SEYB 25K
BOC 2.5K TO 50K
UNION BANK 5K
but some banks are asking to maintain big amount of balance
Union bank ask 1K
but most of other bank ask 5k
can u please sugges some bank to open current accout with details such as min diposit,mim balance to maintain,bank charges etc...

2Current accout Empty Re: Current accout Sat Mar 05, 2011 11:29 pm

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics

most banks initially ask the deposit of 10,000 but it will vary within the branches of same bank, and generally all the banks ask to maintain a minimum of Rs. 10,000/= in order avoid the minimum service charge

3Current accout Empty Re: Current accout Sat Mar 05, 2011 11:38 pm

Fresher


Moderator
Moderator

yes mostly the min average balance they require is 10k and if you fail to meet it, the service charge is 150/- i think.
I'm not sure if the cost of cheque leaves vary from bank to bank

more than this, you must also consider other facilities and convenience to you.
things I look for is the branch network, proximity to your home/office, customer service etc.
another main thing is internet banking. I usually keep only the min balance in the current a/c and the rest in a savings a/c and transfer funds only wen needed.

4Current accout Empty Re: Current accout Sat Mar 05, 2011 11:43 pm

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics

yes cost of cheque leaves also vary generally 8/= per leave, but in some banks its 10/=

5Current accout Empty Re: Current accout Sun Mar 06, 2011 3:23 am

ruwa925


Manager - Equity Analytics
Manager - Equity Analytics

GO TO CEB.....
Ceylon Electracity Board for currant account the will also send you a monthly bill.
(It's just a little joke mate)

6Current accout Empty Re: Current accout Sun Mar 06, 2011 3:55 am

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics

@ruwa925 wrote:GO TO CEB.....
Ceylon Electracity Board for currant account the will also send you a monthly bill.
(It's just a little joke mate)

+ rep for making me laugh.

7Current accout Empty Seylan better Sun Mar 06, 2011 8:05 am

dilanka


Stock Trader

I think seylan is good as there you have to keep5K and you wil get a free cheque book when you have shares and the service charges are less when you have shares and to open you need half the amount from normla people need,when they give the share holder card or letter you can haev all these facilities. I heard in HSBC a cheque leaf will cost around 25 as well.
I dont know abolut the other banks weather they give such benifits to the share holders

8Current accout Empty Re: Current accout Sun Mar 06, 2011 8:18 am

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics

@dilanka wrote:I think seylan is good as there you have to keep5K and you wil get a free cheque book when you have shares and the service charges are less when you have shares and to open you need half the amount from normla people need,when they give the share holder card or letter you can haev all these facilities. I heard in HSBC a cheque leaf will cost around 25 as well.
I dont know abolut the other banks weather they give such benifits to the share holders

Is the seylan giving opportunities for both category of shareholders ( Voting as well as Non Voting ), earlier i had my savings account with them i closed the relationship because they charged annual fees for their Debit Card

For me HSBC Cheque leaf is cost around 10/=, and the 1st book ( 25 leaf ) was free of charge

9Current accout Empty Re: Current accout Sun Mar 06, 2011 8:45 am

Fresher


Moderator
Moderator

whatever said, one needs to be introduced by an existing C/A holder. am I right?

10Current accout Empty Re: Current accout Sun Mar 06, 2011 9:33 am

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics

npp wrote:whatever said, one needs to be introduced by an existing C/A holder. am I right?

Again it varies i think, still Govt Banks request for introduction by an existing C/A holders, but most of the banks not insist on in if you are a Member of a Professional Body, based on the place where you employed

I was able to open the Current Account at HSBC & NTB without the existing account holder introduction because of the membership i had with a Professional Body in Sri Lanka.

In commercial & HNB my father is a long term customer, so i don't have any problems with them as well

11Current accout Empty Re: Current accout Sun Mar 06, 2011 9:58 am

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics

@Gaja wrote:
npp wrote:whatever said, one needs to be introduced by an existing C/A holder. am I right?

Again it varies i think, still Govt Banks request for introduction by an existing C/A holders, but most of the banks not insist on in if you are a Member of a Professional Body, based on the place where you employed

I was able to open the Current Account at HSBC & NTB without the existing account holder introduction because of the membership i had with a Professional Body in Sri Lanka.

In commercial & HNB my father is a long term customer, so i don't have any problems with them as well

Ah.. I also have a membership of a pro body in UK, should've checked it before I've given the intro letter Mad
Do u know how HSBC charges are applied when you issue cheques??

12Current accout Empty Re: Current accout Sun Mar 06, 2011 10:05 am

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics

@smallville wrote:
@Gaja wrote:
npp wrote:whatever said, one needs to be introduced by an existing C/A holder. am I right?

Again it varies i think, still Govt Banks request for introduction by an existing C/A holders, but most of the banks not insist on in if you are a Member of a Professional Body, based on the place where you employed

I was able to open the Current Account at HSBC & NTB without the existing account holder introduction because of the membership i had with a Professional Body in Sri Lanka.

In commercial & HNB my father is a long term customer, so i don't have any problems with them as well

Ah.. I also have a membership of a pro body in UK, should've checked it before I've given the intro letter Mad
Do u know how HSBC charges are applied when you issue cheques??

1st book free of charge ( 25 leaf ), for next one 25 leaf they charge 250/= that is 10 per leaf

13Current accout Empty Re: Current accout Sun Mar 06, 2011 10:15 am

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics

Gaja, What I mean was their normal account charges.. how much they charge if the min bal not maintained, for debiting the account, etc..

14Current accout Empty Re: Current accout Sun Mar 06, 2011 2:10 pm

ndnk

ndnk
Manager - Equity Analytics
Manager - Equity Analytics

Well minimum deposit anyway varies based on the branch,,,recently i went to each n every bank n discussed with them about opening a current account,,, These might b useful to u

1, No need of an introduction in HNB, All other banks require
2, Service charge is based on the balance if u maintain a balance no service charge
Service charges are lowest at the commercial bank 250 per quarter
3. Internet banking facility is best at sampath bank ( real time updating). HNB and BOC internet banking is free of charge.. Via sampathnet and combank online u can settle your brokers also

4. Most horrible thing i heard from COMB, To open an account v need to hold some amount in a savings account, V cant withdraw (In kotikawaththa branch 25000 was minimum deposit, 15000 has to be hold in a savings account.)

Finally i decided to keep my current current account at BOC. Bcaz i have to maintain only 5000 to free from service charge, Internet banking is free,,

15Current accout Empty Re: Current accout Sun Mar 06, 2011 6:38 pm

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics

@smallville wrote:Gaja, What I mean was their normal account charges.. how much they charge if the min bal not maintained, for debiting the account, etc..

I have to fulfill 1 out of 4 requirements, if not 1,100/= - Check the eligibility requirement of the this link http://www.hsbc.lk/1/2/hsbc.advance/apply

16Current accout Empty Re: Current accout Sun Mar 06, 2011 6:40 pm

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics

Dear ndnk with regard item no 4, i have a current account with them and have no savings account at commercial

17Current accout Empty Re: Current accout Sun Mar 06, 2011 8:17 pm

Meta Trader

Meta Trader
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

hmm... after reading this topic any one will be confused for sure Wink

Up to now i have 3 current accounts

Sampath
commercial
NTB

well up to now i didn't have any issue with above 3 and i highly recommend those 3 banks.

P.S
all those banks are situated walking distance from my home. so i may be biased



Wink

18Current accout Empty Re: Current accout Mon Mar 07, 2011 3:07 pm

npc86

npc86
Manager - Equity Analytics
Manager - Equity Analytics

npp wrote:whatever said, one needs to be introduced by an existing C/A holder. am I right?

No man, It.s decided by the bank offices. They check whether the party is fit and proper person to maintain current A/C. But some of our Com bank managers allow to open C/A without such criteria.Better to talk with them and then open the account. You' r cost is for chq book is 200 for 25lvs book,400 for 50levs book. jocolor
My recommendation is Commercial Bank I have no idea about others.

Good luck..!

19Current accout Empty Re: Current accout Mon Mar 07, 2011 3:13 pm

npc86

npc86
Manager - Equity Analytics
Manager - Equity Analytics

@ndnk wrote:

4. Most horrible thing i heard from COMB, To open an account v need to hold some amount in a savings account, V cant withdraw (In kotikawaththa branch 25000 was minimum deposit, 15000 has to be hold in a savings account.)

Hay man, now there is no minimum balance requirement for Savings A/C in general use. You ask to kotikawaththa manager to remove it n then enjoy the C/A jocolor

20Current accout Empty Re: Current accout Tue Sep 02, 2014 7:50 pm

mjrocker


Senior Equity Analytic
Senior Equity Analytic

Smile

21Current accout Empty Re: Current accout Tue Sep 02, 2014 9:43 pm

Market R

Market R
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

There is a comment by ndnk, he/she told that we can settle our brokers. It mens can we deposit money to CDS accouts from sampath & combank internet banking facility ?

22Current accout Empty Re: Current accout Tue Sep 02, 2014 9:48 pm

Top Trader


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

@Market R wrote:There is a comment by ndnk, he/she told that we can settle our brokers. It mens can we deposit money to CDS accouts from sampath & combank internet banking facility ?

No Idea about Samp, with Commercial bank, yes u can do it for 7 or 8 brokers.

I noted something on this topic, need to dig and see, i hope some other members also notice it

23Current accout Empty Re: Current accout Tue Sep 02, 2014 11:14 pm

fawaz4sl


Stock Analytic
Stock Analytic

What is the procedure and requirments to open a current ac?

24Current accout Empty Re: Current accout Tue Sep 02, 2014 11:29 pm

Market R

Market R
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

http://www.combank.net/newweb/personal/ca
this is commercial bank details.

you can get details from relevent banks web sites.

25Current accout Empty Re: Current accout Wed Sep 03, 2014 7:55 am

hettdas

hettdas
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

According to my experience NDB bank is the worst bank.
Their service and the charges are very bad.
Their working girls are most of the times on private calls. Even when customers are waiting for them.

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