بانک سینا

Sina Bank current account is a form of deposit account that allows payment by way of cheques.

Cheque:

A cheque is a printed form on which customer writes an amount of money and specify who it is to be paid to. Sina Bank then pays the money to that person from the customer's account. Cheque is an important commercial document that individuals, companies, governments and many others use to transact their business. By definition, cheque can be termed as a negotiable document used to transfer money either in physical form or to affect inter-account transfer.

Specifications of Cheques:

1. Date of the cheque. To be able to receive payment, the date must be the current date.
2. The payment amount written in words. The same value will be written in the box beside it. Ensure that the amount in words and figures are written the same, otherwise, the bank will return the cheque.
3. Payee is the person to whom the cheque is to be issued. Ensure that the name of the person is correctly spelt and written close to the words "pay to". Draw a line on the space after the payee's name to avoid misuse.
4. Drawer's name and current account number
5. Drawer's signature same as his bank's signature

 

Different types of cheques:

Open cheque or bearer cheque: The issuer of the cheque would just fill the to-whom-the-cheque-is-issued space, writes the amount and attaches his signature and nothing else. This type of issuing a cheque is also called bearer type cheque also known as open cheque or uncrossed cheque. The cheque is negotiable from the date of issue by giving and taking.

A crossed cheque or an account payee cheque: It is a demand note and the only person it was issue for, has right to use it. It is issued in two ways: The issuer specifically specifies it as account payee on the top left hand corner or simply crosses it twice with two parallel lines on the right hand top corner. Unlike drawing directly, transfer is possible only.

Banking cheque: A Banking Cheque is a cheque issued by the bank payable to the name of the person to whom the cheque is issued or in order of specified payee for payment within a local area.

A self cheque: A self cheque is written by the account holder as to pay him/herself to receive the money in the physical form from the branch where he holds his account.

Requirements to open a current account:

-Original birth certificate and national's identification card plus their certified copies
-Credit evaluation from central bank of Iran (not bankrupt, not dishonored cheque)
-Not over drafts and overdue facilities

Real Persons:

-Applicant must be 18 years old or above.
-Applicant should have a legal competency.
-Applicant should have an authenticate job with a specified address.
-Applicant needs an introducer acceptable to Sina Bank. Normally, the introducer can be an existing customer or someone known to Sina Bank.

Legal Persons:

For a legal person, it is necessary to provide the business registration number, board resolution, memorandum and articles of association, share allocation form and list of directors and secretaries (for company account) or list of current board (committee members). The latest formal newspaper shows their allowed officials for signing the undertaking docs and letter and also its last changes. It is necessary that in their charter, the right of opening of account is mentioned.

Joint Account:

Joint current account is operated by two or more people according to customers preferences:
- Any of the accountholders can operate the account (e.g., for an account opened by A and B, either A or B is required to sign)
-All accountholders are needed to operate the account (e.g., for an account opened by A and B, both A and B are required to sign)

Debit Card - Current Account:

Customers can make deposits and withdrawals by debit cards at Sina Bank's branches without cheque books.
-Any person 18 years old or above with legal competency can open a debit card- current account.
- Sina Bank opens debit card-current accounts for corporations if they are allowed to.