If after this investigation it is deemed desirable to open an account with the party, the clerk fills in an instruction form, ad dressed to. either the foreign tellers' department or the foreign collection department—depending upon the department from which the funds for the opening of the account have been received, and reading : The form also redtes the special instructions to be followed in handling the account.
This instruction sheet and the original letter or cablegram of instructions are signed by the officer who has charge of the area where the new customer resides, and the two documents are sent to the department in charge of the funds in question. After the funds have been collected, an account-opened card is pre pared jointly with the foreign bookkeeper's department, giving the date, name, address, initial deposit, business, how secured, and remarks. This card is submitted to the officers at their next meeting for discussion, approval, and determination of con ditions controlling the account. Copies of the card are then made and distributed among the departments concerned with the new account and a letter is written to the customer stating the terms and conditions under which his account is accepted.
If the prospective customer or his representative comes alone or is introduced by a domestic client to the bank, he is interviewed by the new accounts department, data are procured to guide the officers in passing upon the application, and the normal terms under which accounts are opened are explained to the prospec tive client. Such a conference affords the department a good opportunity to explain the nature of the services offered by the bank and the advantages of opening an account with it.
When, for some reason or other, an account is closed and the last of the funds withdrawn, the new accounts department prepares an account-closed card jointly with the foreign book keeper's department, stating the account's name, address, amount withdrawn, average balance for the preceding six months, business, how closed, and the reason if any for closing the ac count. This card is considered at the next meeting of the officers,
and is filed for permanent record. If the case warrants it, the department may write to the customer diplomatically expressing regret that the account has been closed and hoping that the bank may again be favored, etc.
In the handling of accounts certain miscellaneous duties devolve upon the new accounts department, a few of which may be mentioned: A customer, present or prospective, often writes to the bank for information about the terms and conditions gov erning accounts, or he may be dissatisfied with certain services of the bank, or he may ask for higher rates of interest on his bal ance or seek other services or changes in the conditions governing the account, or the client may be in need of bank stationery or a blank check book. These requests, inquiries, and complaints must be handled with tact and diplomacy. Any changes made in the method of handling the account must first be approved by the officers and then recorded, after which the bookkeeper's and other departments are informed of the changes. Another kind of duty performed by the department is to watch for changes in an account's title when partners are added or firms are incorpor ated or combinations are effected; changes in the official staff of the account or in the persons authorized to sign for the account; the expiration and renewal of certain powers of attorney; etc. Proper notices and records of all such changes are put through the bank.