Current account not operated for 6 month and saving account if not operated for one year become dormant accounts.
Current accounts if not operative for two years & saving for three years become inoperative.
If current / saving accounts remain inoperative for three years the same should be transferred from inoperative to unclaimed accounts. If these accounts remain unclaimed for ten years then become the property of State Bank of Pakistan.
"The transfer of funds from a branch of bank to the other branch of the same bank or the other bank on which the instrument is drawn, without involving cash through "State Bank's clearing house"
Outward clearing Process CLEARING Inward Outward Final Voucher Prepared Bundle Cover Separate Deposit Slips and Cheques Posting Stamping Scrutiny of Cheques and Deposit Slips Cheques Deposited Make Bundle of 50 Cheques per List Hand Over to NIFT Agent
Inward Clearing Process CLEARING Outward Inward Send to Account Department Scrutiny of Cheques and Stamps Cheques Withdrawals Cancellation Posting Returns Marked Hand Over to NIFT Agent Transfer Stamp Attach Return Memo Return Voucher Prepared
A draft or bill that is payable on demand or upon presentation. Also called “ demand draft .”
Parties Involves 1- Purchaser 2- Issuing or Drawing Branch 3- Drawee Branch 4- Payee/Beneficiary Procedure for Issuance of DD DD Application form Name of the payee should mentioned Signed by the purchaser Commission and charges 0.1% commission 75 postage FED