RBBS Flashcards
a financial institution engaged in lending of funds obtained from deposits.
Bank
Like any other corporation, it is a __________________________, and its right to carry-on banking
business is a franchise and privilege dependent on a grant of corporate powers by the State.
Creature of Statute
defines a bank or a banking institution as an entity duly authorized by the Monetary Board of the Bangko Sentral ng Pilipinas to engage in the lending of funds obtained from the public through the deposits of any kind.
General Banking Act
It is one of the major functions of a commercial bank.
Deposit Taking
are the lifeblood of a bank; they are
the bank’s chief sources of funds.
Deposits
True or False: Deposits are utilized for lending and investing purposes as to gain far more yields therefrom.
True
True or False: The larger the volume of deposits, the more business and profits generated.
True
Engaging in banking activities at facilities away from the home office
Branch Banking
Primary Role of a Branch
- Deposit Generation
- Customer Service Delivery
How is the the organization chart of the branch?
Branch Head
the following 2 reports to the branch head:
- Branch cashier
- Branch Operation Head
What’s the primary functions of the branch head?
Sales
What’s the primary function of the branch cashier?
Operations
What’s the function of the branch operations head?
Control
Itis technically a contract (agreement) between the Bank and the depositor.
Deposit Account
True or False: Specifically, a deposit account is a loan
contract which creates a debtor-creditor relationship between the Bank and the depositor.
True
What are the elements of a bank deposit?
- Object
- Consent
- Consideration
What does the element object means in a bank deposit?
Object= Money
- Physical delivery
- Within bank premises
- During banking hours
- To an authorized agent of the bank - Actual Receipt by the bank
- Cash Deposits
- Check Deposits
True or False: It is a minimum of 6 days per banking week.
False. 5 days.
True or False: During banking hours not less than 8 hours per day.
False. 6 hours.
True or False: The following are authorized agent of the bank in the delivery of the money for bank deposits.
- Tellers
- President
- Cashier/ Asst. Cashier
Actual counting to determine the amount deposited and accepted by the bank.
Cash deposits
Regarded as items for collection.
Check deposits
The voluntary offer of a person to make a deposit and the bank to accept the deposit
Consent
True or False: By signing the signature cards or conformity to the bank’s rules and regulations, the depositor does not necessarily manifests in writing his consent.
False. The depositor MANIFESTS his consent.
