Customer Rights and Responsibilities

Responsibilities of customers

Consumer Rights and Responsibilities

Responsibilities of Customers

Customers should:

  • exercise reasonable care in drawing cheques to prevent fraud,forgery, and not to mislead the bank.
  • immediately inform the bank whenever a forgery is discovered in the operation of the account.
  • have sufficient funds in the account or leeway in an overdraft limit to meet cheques drawn.
  • use cheque cards or cash cards only in accordance with their conditions of use.
  • demand repayment of a credit balance only in writing during business hours.
  • pay reasonable interest and commission to the bank.
  • allow the bank to use the deposits as the bank wishes.
  • keep proper and reasonable custody of cheque books and all withdrawal instruments.

Responsibilities of Banks to Customers

Banks are required to:

  • honour customers cheques up to the credit balance or overdraft limit, provided they are in order and there is no stop order.
  • maintain strict secrecy about customer's affairs, whiles the account is operational or after it had been closed except:
  • the disclosure is by an Act of Parliament or a Court Order,
  • the disclosure is in the public interest,
  • the disclosure is in the bank's interest,
  • the disclosure is with the express or implied consent of the customer.
  • give reasonable notice to close an account in credit.
  • provide an accurate statement of account per agreed period or within a reasonable time.
  • receive money and cheques for collection and credit customer's account
  • advise a customer immediately it suspects some forgery or fraudulent deals in the operations of the account.
  • exercise due care and diligence in the operation of a customer account.
  • give customer complete information on each product provided.