Internship report

ACCT 4207

Internship Report
On
Practical Experience at UCBL

Submitted To
Md. Abdul Mannan
Associate Professor
Department of Accounting & Information Systems
Jagannath University

Submitted By
Md. Mutasim Fuad
B140201063
Session: 2014-15
Submission date: 20-02-2019

Jagannath University
 Letter of Transmittal

20 February, 2019
Md. Abdul Mannan
Associate Professor
Department of Accounting & Information Systems
Jagannath University

Subject: Submission of Internship Report.

Respected Sir,
With great pleasure, here I submit my internship report on “Practical Experience at UCBL” that
you have approved & assigned as a compulsory course.

This report is based on the knowledge and experiences I have gained my internship period at The
United Commercial Bank Limited, Hemayetpur branch. Hence, I would be extremely delighted
and honored if you accept my Internship Report and recognize my hard work and determination I
have put together in the preparation and completion of this report. I have tried my best to bring
out what I have learnt in United Commercial Bank Limited.

I would like to thank you for your support, guidelines & observation of my works which made it
easy for me as well as provided knowledge of learning in practical.

Yours Obediently,

__________________
Md. Mutasim Fuad

ii
ID:140201063

iii
 Letter of Acceptance

This internship report is entitled “Practical Experience at UCBL” is prepared with thoughtful and
relevant document under my direct supervision. This report is submitted by Md. Mutasim Fuad
student of Bachelor of business Administration (BBA), Department of Accounting &
Information Systems,Jagannath University,ID No: 140201063 has been accepted.

________________________________

Md. Abdul Mannan

Associate Professor
Department of Accounting &Information Systems,

Jagannath university

iv
 ACKNOWLEDGEMENT

In the beginning I would like to convey my sincere appreciation to God for giving me the
strength and ability to finish the task. I want to thank my academic supervisorMd. Abdul
Mannan, Associate Professor of Department of Accounting & Information Systems, Jagannath
University, for providing me all the necessary helps for completion of this report.

I want to give the greatest thanks to Sir for guiding me as an advisor to start and complete this
report successfully. The internship opportunity I had with UCBL was a great chance for learning
and professional development. I consider myself as a very lucky individual as I was provided
with an opportunity to be a part of it. I am also grateful for having a chance to meet so many
wonderful people and professionals who led me through this internship period.

I would like to thank Mr.Alamgir Hossain, Brach Head of UCBL, Hemayetpur Branch and my
organizational supervisor MrMazharul Islam, Senior officer to help me with all their
capabilities and affections. I would like to express my deep sense of thankfulness to
MrsSharmin Sultana, Senior officer, General Banking Department for guiding me. I would also
like to thank speciallyMr. Tajul Islam,Executive Officer, Foreign Exchange & Credit
Department for his enormous help and endless support throughout the internship period. And last
but not the least; thanks to all the personnel working at UCBL, Hemayetpur Branch.

v
 Executive Summery

This Internship report is aimed at providing different areas of service of United Commercial
Bank Limited. The report has been divided into different parts.

The first part is the Introduction; where different objectives are described. In this part
information collection method and sources are also described. Limitations of the study are also
written down here.

Second part gives an overview of United Commercial bank Limited.This part is prepared by
discussing UCBL’s mission, vision and motto. It also contains the objectives, features and
managerial hierarchy of the bank.

The third part is the main part which consists my internship experience at UCBl. This part is a
brief explanation of the General Banking practices followed at Hemayetpur branch. This part
also contains the job responsibilities that carried by me at the organization, what has been learnt
and a short evaluation. Then the las part is conclusion.

As a mandatory requirement to complete Bachelors of Business Administration (BBA) program

at Department of Accounting & Information Systems,Jagannath University, this report has been
written. Throughout the overall study it has mainly tried to focus at the review ofGeneral
Banking Activities of United commercial Bank Limited.

vi
 Contents
Introduction 1
Objectives of the Report 3
General Objectives 3
Methodology 4
Limitations of the Study 5
Organization Profile 6
History 7
Corporate Profile 8
Organizational Hierarchy 9
Objectives of UCBL 10
Business Motto 10
Vision 11
Mission 11
Core Values 12
Credit Rating 12
Product & Services 13
Deposit Account 13
Deposit Schemes 13
Corporate Social Responsibilities 15
Corporate Governance 15
SWOT Analysis of UCBL 16
Internship Experience 17
General Banking 18
Account Opening Section 19
Saving Account 19
Current Account 20
Special Notice Deposit 20

vii
 Formalities for Opening an Account 20
Know Your Customer (KYC) Form 22
Foreign Account Tax Compliance Act (FATCA) 22
Document Required 23
Issuance of new Cheque Book 23
Procedure for Account Closing 23
Issuing of Debit Card 24
General charges of CD, SB, STD 24
Clearing Sector 24
Types of clearing 24
Reason for Dishonoring Cheque 25
Issuing Pay Order Slip 25
Fixed Deposit Receipt 26
Registering Cheque Book 26
Registering Debit Card 26
Foreign Remittance 27
Real Time Gross Settlement (RTGS) 27
Used Seals in Bank 29
Conclusion 33

viii
 Introduction

1|Page
Bank is a financial institution which deals with money. Not all banks are the same. There are
different types of banks: co-operative banks, savings banks, investment banks and central banks.
Because of its transitional role, banking system occupies a vital place in a country’s economy. It
confirms distribution and re-allocation of assets and keeps up the motion of economic activities.
As monetary intermediaries, banks stand between investors who invest capital and debtors who
demand capital. It assembles asset for both the public and private sectors, and provides inventive
answers to meet the requirements of entrepreneurs and government agencies. Thus, the banking
segment plays a key role in the evolution of Bangladesh’s economy. After the independence of
Bangladesh in 1971, six state owned commercialized banks were composed, two state owned
banks that specialized in lending to the agriculture and industry, three foreign banks including
standard chartered bank. The banking industry has faced momentous expansions from 1980’s.
Private Banks has entered in banking industry, Micro finance banks grew rapidly, which has
provided assistance to meet the needs of poor citizens.

For the requirement of Department of Accounting & Information Systems,Jagannath University I

have completed internship in United Commercial Bank Limited, Hemayetpur Branch. The main
reason of this internship is to acquire knowledge from the professional field and we can expose
our self in the job world. Because it is very essential to have practical knowledge. As my major
is in Accounting & Information Systems and I wanted to get knowledge of Banking Sector. So, I
started my internship in United Commercial Bank on Hemayetpur branch.In these months Mr.
Abdul Mannan, Associate Professor of Accounting & Information Systems was my academic
supervisor and Mr.Mazharul Islam, Senior Officer was my field supervisor. I was approved to
write report on: “Practical Experience at UCBL”.

2|Page
Objectives of the Report:

General Objectives:

 To fulfill the partial requirement of BBA Degree.

 To present overall internship experience.

Main Objectives:

 To understand the function of General Banking

 To learn direct from the work field
 To increase practical knowledge
 To cope up with corporate environment
 To learn how to behave in pressure
 To become skilled at how to give customer service

3|Page
Methodology:

For performing the study, I have collected the data then organized and analyzed, interpreted and
inscribe in a methodical way. The sources are primary and secondary data.

Primary Data:
 Direct job experience in General banking department in UCBL
 Direct job experience in Credit Section in UCBL
 Discussion with customers
 Discussion with seniors
 Discussion with the experts
 Discussion with the officials in UCBL
 Inspecting in different desks
 Day to day observations

Secondary Data:
 Website of UCBL
 Leaflets of UCBL
 Annual report of UCBL
 Manuals of UCBL

4|Page
Limitations of the Study:

Current study of this report was limited. But as I was an internee, it was a big chance for me to
know the actions and behaviors of banking system, especially UCBL. I had to face some
obstacles while doing this report. Some of them are given below:

Lack of Time:
As there was only three months to complete the report, it was almost impossible
to cover the performance of the bank fully, where a regular employee gets awarded after six
month or one year of his probationary period.

Limited data resources:

All types of information were not available for access, so it was not possible to access and
summarize them properly. Though I had assistance from other employeesbut it was not enough
for me due to their high work pressure in the bank. Some assumptionswere made due to limited
information, so there may be some personal mistakes.

Lack of experience:
It was my first time, doing a report on a banking system in a practical
corporate life. So, my limited experience was the main obstacle of this study.

Privacy of Information:
Every establishment has its secrecy that is not shared with everyone. So, this confidentiality of
information was also an obstacle faced in this study.

5|Page
 Organization Profile

6|Page
United commercial Bank is a first-generation commercial private bank in bank which provides a
range of banking service which consists of Retail Banking, SME Banking, Corporate Banking,
Off-shore Banking, and Remittance etc. The most popular is retail banking where customers use
services from all local branches. It includes account opening, closing, checking balance, issuing
cards, personal loans etc. For the low-income people UCBL offers. SME banking for creating
entrepreneurs and creating jobs which boosts the social stability. And in corporate banking which
is mostly business banking deals with the big businesses and corporate clients. UCBL also
provides remittance service to their customers. They have both outgoing and incoming
remittance.
UCBL always give the most priority to its customers. For the efficiency of their service they use
flex cube software. They always put their customers first. They have highly proficient and
committed team with a long-time experience in banking. Their main target is to value their
customers’ needs and wants. And it plays an important role in economic expansion. By using
different software, network and adapting new technology they are engaging in the development
of business, commerce and industry.

History:
In mid of 1983 United commercial Bank started its journey. It was built in as a public limited
company under the companies Act, 1994. Bangladesh Bank determined its rules and regulation
on 3rd June 1983. They started their journey with the commitment of developing the social and
economic position of Bangladesh. UCBL listed in Dhaka stock exchange in 1986 and in
Chittagong stock exchange in 1995. The founder chairman of UCBL is Late Shahjahan Kabir.
He was very experienced in banking sector. Many well qualified and successful entrepreneurs
joined the chairman and they all became very successful in different field of business in the
journey of UCBL.
UCBL has 178 branches all over Bangladesh with a vast network. The Bank is very popular for
its prompt services, modern practices and well-organized management. Now a day, UCBL is one
of the top banks of Bangladesh. The authorized capital of the bank today is Tk.15, 000
million,paid up capital tk.10,541 million. The Chairman of the bank is Mrs. Rukhmila Zaman
and the vice chairman is HajeeYunus Ahmed.

7|Page
Corporate Profile:

8|Page
 RegisteredName UnitedCommercialBankLimited
LegalStatus PublicLimitedCompany
DateofIncorporation 26June 1983
DateofCommencementofBusiness 27 June 1983

Chairman
ViceChairman
Chairman,ExecutiveCommittee
Chairman,AuditCommittee
Chairman,RiskManagement
RukhmilaZaman
HajeeYunusAhmed
AnisuzzamanChowdhury
AkhterMatinChaudhury, FCA(E&W),FCA,FCS
Md.JahangirAlamKhan

ManagingDirector A.E.AbdulMuhaimen
CompanySecretary ATMTahmiduzzamanFCS
ChiefFinancialOfficer(Acting) MuhammadHafizurRahman,FCA,ACMA

DateofListingwithDSE 30 November 1986

DateofListingwithCSE 15November 1995
AuthorizedCapital BDT15,000million
PaidupCapital BDT10,541.31million

TotalManpower 4 ,459Ason 31.12.17

NumberofBranches 178
NumberofATMBooths 187 Ason 31.12.17

SyfulShamsulAlam&Co.
Auditors CharteredAccountants
ParamountHeights(level-6)
65/2/1,BoxCulvertRoad,
PuranaPaltan,Dhaka-1000,Bangladesh

Md.MosharrofHossain,Advocate
TaxConsultants RoomNo-20,28A,Kakrail(3rdFloor)
Dhaka

EmergingCreditRatingLtd.
RatingAgency ShamsRangs,LevelA1,A2&A5
House104,ParkRoad,Baridhara,
Dhaka1212

RegisteredOffice Plot-CWS(A)-1, Road-34,GulshanAvenue

Dhaka-1212, Bangladesh

Telephone 008809611999999/00880255668070
E-mail info@ucb.com.bd
Website www.ucb.com.bd
SWIFT UCBLBDDH
TradingSymbol UCB

9|Page
 Organizational Hierarchy

10 | P a g e
Objectives of UCBL:

 To provide quick and superior service by applying modern information

technology.
 In all aspects the UCBL lanced development growth of the bank to be sustained
and this technique is to be maintained.
 By improving congenial relationship between the Bank and the customers, we
want to come closer to play a vital role in national development.
 By investing the liquidity of our valued shareholders income generating projects
and give them maximum dividend.
 In this competitive market, the bank is to provide new innovation banking services
to its valued customers and build up its own image.
 To ensure the improvement of professional quality of man power by increasing
the work efficiency and technological knowledge.
 To its own position by creating creative banking service in competitive market.

Business Motto:

United Commercial Bank Ltd. started its journey with the motto of socio-economic
development of the country about three decades ago. It will keep continue to provide best
financial services in coming days as well. The corporate motto of UCBL is –

“United We Achieve”

11 | P a g e
Vision:
“To be the Bank of first choice through maximizing value for our clients, shareholders &
employees and contributing to the national economy with social commitments.”

Mission:

“To offer financial solutions that create, manage and increase our clients' wealth while
improving the quality of life in the communities we serve.”

12 | P a g e
Core Values:

 We put our customers first

 We emphasize on professional ethics
 We maintain quality at all levels
 We believe in being a responsible corporate citizen
 We say what we believe in
 We foster participative management

CREDIT RATING

United Commercial Bank Limited has been rated as AA (Pronounced as ‘Double A’) long term
credit rating and ST-2short term credit rating by Emerging Credit Rating Limited (ECRL) based
on audited financials of 2016 and otheravailable information up to the date of rating declaration.
The outlook on the rating is Stable.

Long Term Rating Short Term Rating Outlook Date of Validity

AA ST-2 Stable May 06, 2018

ECRL considered financial performance, capital base, asset quality, liquidity position,
management experience andprospect of the industry while assigning the rating. The affirmed
rating reflects the strengths of the bank which isbacked by its strong management, good
utilization of funds, good market share, satisfactory liquidity and its accessto low cost funding
sources.

13 | P a g e
Product & Services:

Deposit Account

 Saving deposit
 Short term deposit
 Fixed deposit
 Foreign currency deposit A/c
 NECD (Non-Resident Foreign Currency Deposit
 Account)
 RFCD (Resident Foreign Currency Deposit Account)

Depositschemes

 UCB Multi-Millionaire
 UCB Money Maximizer
 UCB Earning Plus
 Time Deposit Scheme
 Monthly savings scheme
 Deposit insurance scheme
 Consumer credit scheme

InvestmentSchemes
 Import finance
 Underwriting & bridge financing
 Export finance
 Working capital finance

14 | P a g e
  Trade finance

15 | P a g e
Computerservices

 SMS banking services

 Online service
 One stop service
 Any branch banking
 Integrated system
 Signature verification

Card services

 UCBL debit card

 UCBL credit card
 VISA classic blue –local/ dual/ international
 VISA Gold-dual/ international
 VISA classic black- local/ dual
 VISA classic pink-local/ dual
 Supple card-local gold/ dual /international classic
 Supple card-dual/international gold

Other services

 Travelers cheques
 Inward & outward remittances
 Locker services.

16 | P a g e
Corporate Social Responsibility:

CSR is a way for companies to benefit themselves while also benefiting society. According to
UCBL they have a long history of association in different types of CSR activities. And the
practices are done in a formal structured manner. They want to help disadvantagedpopulation of
our country by taking socially responsible initiatives. They are concerned about all shareholders,
admiration for human beings and for atmosphere, respect for environment and disseminate
information on CSR policy, ethical functioning and respect for employee’s rights and welfare.
Participation in social enhancement, culture, healthiness, games, environment etc are also done
by UCB.

Corporate Governance:

The standards of Corporate Governance are responsibility, equality, clearness and

dependability.
The Bank focuses on ethics, innovation andtransparency. The establishment of well founded
corporate governance within the company willcontinue to be important in order to ensure a
continuous profitable return to shareholders and asolid reputation amongst clients and partners.
Westrive to maintain full compliance with the laws,rules and regulations that govern our
business. Themain objective of UCB’s corporate governance isto develop a strong, sustainable
and competitivecompany in the best interest of its shareholders,employees, business associates
and society atlarge.
 According to the regulations of Bangladesh Bank, the Directors in the Board are
13 in number. The bank is also fulfilled with the regulations of safety and
Exchange Commission.
 Executive Committee and Audit Committee are the two committees of the board
of directors.
 With the permission of board, the administration carries out actions according to
the plans and restrictions.
 The bank’s risk management, resources sufficiency, per share earnings related

17 | P a g e
 information and other revelation as prerequisites are given in the yearly Report.

SWOT Analysis of UCBL:

18 | P a g e
 Internship Experience

19 | P a g e
According to Department of Accounting & Information Systems curriculum, internship is must.
It is compulsory to work in a selected institution as an intern to enhance the practical
understanding and experience. After completing this, internship, an experience report should be
organized on the knowledge of internship program. As per the requirement, I have done my
internship in ‘United Commercial Bank Limited’ at Hemayetpur branch. I have gathered
experience of banking process and financial activities. I had been working from 10 am to 5 pm
every day during the period of my internship. I was getting used to office decorum, official
affairs and approaches.

The first day began with a meeting with UCBL Hemayetpur Branch Manager Mr. Alamgir
Hossain and he introduced me with the Operational Manager Mr. Mazharul Islamand made
him my on-field supervisor. Mr. Mazharul Islam introduced me with his colleagues. The first
week simply went in figuring out my office functions and how I could make any useful
contribution with my works to the institution. I had to move round from one desk to another to
work on new section under new officer to gather more knowledge. I started developing a better
picture of what tasks to do as the days passed. I got the chance to work mainly in General
Banking section under Mrs. SharminSulatana, beside that I’ve also worked in the Credit
Section under Mr. Tajul Islam

General Banking
In operating a bank general banking is the starting point. It provides those customers who come
regularly and those customers who come one time in banking for have the benefit of additional
services. In this department customers can demand for cash and the bank collects investment
from them. It is the division, which provides everyday services to the customers. It opens new
accounts, forwards customer’s cash from one place to another throughout issuing bank draft, pay
order, endorsement, collects all bills like local cheque collection, inward and outward bills
collection for customers. General banking is also known as Retail Banking.

20 | P a g e
In UCBL, Hemayetpur Branch, departments under general banking section are:
 Account opening section
 Cash section
 Deposit section
 Remittance section
 Accounts section
 Clearing section
 Customer Service section

Account Opening section:

In Bank it is necessary for new customers to open new account. In client bank relationship it is
the initiate point. By opening an account, a customer can get all kind of facilities from a bank. As
by opening account a bank gets its investment so it is the most important branch. UCBL has
different rules and regulations and they also has different type of products for the customers.

Savings account:Savings account is the most popular account in UCBL. Customers open this
account for savings purpose. Interest is given based on the deposited amount. Interest on this
account is calculated and accrued monthly and credited to the account half yearly.
 Minimum opening deposit of Tk.1000/= is required
 Minimum Tk. 500/= balance must always maintain
 Withdrawal amount should not be more than 1/4th of the total balance at a time
 Withdrawal limit is twice in a month
 For salary account opening deposit is not required
 For salary account there’s no restriction in withdrawal

21 | P a g e
  An introducer who has account on the same bank and know the account opener

Current Account:This type of account is for both individuals and business concerns. But most
current accounts are opened by the business concerns. Because they need regular transaction.
And in current account, account holder can deposit and withdraw money frequently.

 Minimum opening deposit of TK.1000/- is required

 No withdrawal limits
 No interest is given upon the deposited money
 Minimum Tk.1000/= balance always must be maintained

Special Notice Deposit:Any individual or corporate body can open Special Notice Deposit
Account, which is an interest-bearing deposit account, for a short period of time. However, 7
days of notice is required if the customer wishes to withdraw money from this account. Interest
rate on SND accounts will be varied based on the amount and not on the customer or tenure.
Interest is calculated daily and paid two times in a year.

Formalities for Opening an Account:

For opening the account, the first-hand requirements:

 Application on the prescribed form

 Introduction of the applicant

 Specimen signature

 Two copies of passport size recent photograph with attested by the introducer.

22 | P a g e
At first customer service desk want to know whether the customer has introducer to open the
account or not? If yes then give him/her a printed Account opening Form along with
Specimen Signature Card, Customer Transaction Profile Form and Information form on
Money Laundering. After that, request customer to fill up the form duly and submit the form
with required documents.

23 | P a g e
Know Your Customer (KYC) Form:
The most important part of a account opening is KYC. KYC meaning is know your customers.
For opening a account customers have to fill up KYC from where they have to put their full

24 | P a g e
information which includes documents for identification, transaction profile that means he
amount of money to be deposited and withdrawn in a month, earning source.

Foreign Account Tax Compliance Act (FATCA):

FATCA promotes cross-border tax compliance by implementing an international standard for the
automatic exchange of information related to US taxpayers. FATCA regulations require tax
authorities to obtain detailed account information for US taxpayers on an annual basis.

Documents Required:
 Personal Account (Individual/Joint):
• Two Copies of Passport size photographs of the applicant attested by the Introducer
• and one copy passport size photograph of the Nominee attested by the applicant.
• Copy of passport/National Identity Card/ Voter ID Card
• Details of occupation/employment and sources of wealth or income
• Joint Declaration Form (For joint a/c only).

• Employee’s Certificate (in case of service holder).

 Proprietorship Account:

 Introduction of the account.

 Two photographs of the signatories duly attested by the introducer.

 Valid copy of Trade License.

 Rubber stamp.

 TIN number certificate.

 Identity (Copy of passport/NID).

 Permission letter from DC/ Magistrate (in case of newspaper)

25 | P a g e
Issuance of new Cheque Book:
After opening an account to withdraw money account holder need a cheque book. Using the
cheque, he can withdraw money whenever needed. The customer has to sign a cheque requisition
slip. After that a new book issued. Customers can ask for their preferable number of cheque book
pages. Current, savings and SND account holders can request for cheque. Less than 12 age
account holders cannot own cheque. His legal guardian will get the authority of his cheque book.

Procedure for Account Closing:

For closing an account, a customer has to give an application with the reason. After presenting
the application then he has to submit the cheque to withdraw the deposited amount. Bank charge
and vat will be deducted from the amount.

Issuing of Debit Card:

Pervious days clients need to fill a specific form to issue a Debit Card. But now debit card is
automated, clients don’t need to issue it separately.

General charges of CD, SB, STD:

 Closing of STD accounts: Tk. 300/-

 Closing of SB accounts. Tk. 200/-
 Closing of CD accounts:Tk. 300/-
 Account statements (requested by customer):Tk. 300/-
 Cheque book issuance charge:Tk. 4.00 Per leaf
 Cheques returned because of insufficient fund:Tk. 500/- per instance
 Solvency certificate issuance (CD/SB/STD):Tk. 200/- per instance

26 | P a g e
Clearing Sector:

Through Bangladesh Automated Clearing House (BACH), and outward and inward clearing
service is provided by UCBL. Bank collects fund from customer from one bank to another and
transfer by clearing house. If the clearing done within 12pm transaction will complete on current
day. But if the clearing done after 12pm and before 4pm transaction will complete in next
working day.

Types of Clearing

 Outward Clearing: In outward clearing customers give cheque for clearing

 Inward Clearing: In inward clearing cheques are received from other banks for
depositing in their client’s account

Reasons of dishonoring the cheque:

 Not enough fund in account.

 Dissimilarity between the amount written in words and numbers.
 Expired cheques (out of date).
 Drawer stopped the payment.
 Approval of the payee is not regular / unreadable / mandatory.
 Crossed cheque to be presented through a bank.
 Signature of the drawer not matched/ required.

Issuing Pay Order Slip

The pay order form must be filled up at first. The form includes information like, to

27 | P a g e
which individual it issued, and the sum of money and the name of the client. Then the
commission and vat are included according to the sum of money. The pay order block is
prepared in which in the front of the page, “NOT OVER ……. TK ONLY” is written in
block letter after receiving cash in the cash counter.

If the payment amount is 1000 TK, the client has to pay 20 TK commission. If the payment
amount is more than 1000 & less than equal 100000, the client has to pay 30 TK commission. If
the payment amount is more than 100000, the client has to pay 100 TK commission. 15% VAT
is applicable in all the three cases.

Pay Order Slip

Fixed Deposit Receipt (FDR)

28 | P a g e
 Deposit Slip

Fixed Deposit Receipt (FDR)

Customer deposits money in this type of account for a period of time which is communicated to
the customer in advance. On such deposits, bank offers higher rate of interest on revenue as they
does not keep cash funds against these deposits. Generally, customers can open these types of
deposit accounts for a certain period of time with a certain amount of profit.The FDR block
isprepared in which in the front of the page, “TK ONLY…………………” is written in
block letter.

 Fixed deposit for 7months => interest rate 7.5%

 Fixed Deposit for 14months or more => interest rate 8.5%

Registering Cheque Book:

Everyday numbers of new issued chequebooks come to bank for their client. After getting the
courier first of all need to write them down on the Cheque Book Register book. In the book need

29 | P a g e
to write arrival date, client name, account number, check book leaves number and mobile
number. Then I called the clients to come and receive their checkbook. After client arrived to
collect the checkbook first, we have to take signature in the cheque book register and then find
the Requisition Paper in the requisition file. After getting the paper we can give the UCBL seal
in the cheque book and give the cheque book to the customer.

Registering Debit Card:

As like the chequebook register, arrived debit cards must be written down in the Debit Card
Register along with account & card number. Then we can give client his debit card by taking
signature in the register book.
After that I’ve activated clients debit card by calling UCBL help line 16419.

ForeignRemittance:

UCB also facilitates inward and outwardremittance facilities to expatriates,

differentorganizations and individuals through branches, agents and correspondences. People
come to UCBL to collect their remittance money which has been sent from foreign country.
To collect remittance, client provides unique 7 to 18 digit number codes. Different exchange
company has different type of codes. UCBL supports 28 exchange company throughout the
whole world. Some of the popular companies are Western Union, Moneygram, RiA, Al Ansari
etc.
After getting the unique number from the client and the exact amount of money we need to enter
the number in the exchange company’s website. Then we can see the sender’s information and
money amount. Then we have to print out the copy and take receivers signature.
Then we have to log in to URemit account and fill up the information. After printing out the
Uremit form client now can collect the money from the cash.

30 | P a g e
Real Time Gross Settlement (RTGS):

Real Time Gross Settlement (RTGS) is electronic payment systems that allow individuals to
transfer funds between banks. Its so much popular in UCBL, Hemayetpur Branch.
First of all sender need to fill up the RTGS form. In this form senders account number, sending
amount, receivers bank, name, account number are written. Then after getting signature and
authorization the money transfer within 30 minutes.
In UCBL the charge of RTGS is 115Tk with VAT.

31 | P a g e
 RTGS form
Used Seals in Bank:

There some kinds of seal which I’ve used during the internship program. They have their own
and unique significance.

Received:Received seal is used for all kind of receive in the bank. All kind of cash, cheque,
documents, delivery, messages which have been received by the bank are sealed with
“Received” seal.

32 | P a g e
Transfer: This Transfer seal is used when money is transferred from one account to another.
When money is transferred from account to account in the same bank “Transferred” seal is used.

Clearing: Clearing seal is used for clearing purpose.Bank collects fund from customer from one
bank to another and transfer by clearing house. On this inward and outward clearing transactions
this “Clearing” seal is used.

Payee’s A/C Credited: When bankpays back his payees’ money to his account this seal is used.
Its used mostlyfor FDR.

UV Checked: Now a days every cheque has Ultra Violet identical number for Ultra Violet
cheque scanners. This UV helps to prevent cheque fraud. It confirms the cheque’s validity.

33 | P a g e
Not Over Tk……. Only: This seal is used for Pay order. It means bank is not allowed to pay the
owner more than that exact amount.

Signature Admitted:This seal is used at the signature card where client gives his three
signatures. This seal means client admitted the signature in front of the officials.

Signature Verified:This seal is used when client use his admitted signature to complete any
transactions or bank works. It means this signature is verified according to the admitted once.

34 | P a g e
High Value Clearing:This seal used for clearing cheques which is valued Five lacs or more than
that.

Photo Verified:This seal is used by officials on the back of the clients photo. It ensures that the
clients’ photo is valid and verified by the officials.

NID Verification: This seal is used for verifying new account opener’s and nominee’s NID
copy. UCBL uses NID Verification software to verify client’s NID. This seal means NID is
verified & legit.

35 | P a g e
 Conclusion

36 | P a g e
As a first-generation bank UCBL is completely committed to provide high quality services to its
consumers. And they are also committed to contribute to the growth of GDP. This bank is
making opportunity to create employment prospect for the youth. So, it is automatically raising
the standard of living. UCBL is trying their best to give the customers the most excellent service
and customers are quite convinced by their service. UCBL has good reputation for online
transactions. UCBL should explore the new trends and strategies to compete with the opponents.

37 | P a g e
Providing credit to clients is a core business of UCB. It is also the pioneer in offering world class
credit/loan facilities for the people of Bangladesh. It has 158 branches in urban, suburbs and
rural areas in the country. Now a days banking sectors is no more dependent on only on a
traditional method of banking. In this competitive world banking sector has expanded its services
wide enough to cover any kind of financial services. In regard of competition now every bank
face huge completion and they are not only from the local banks but international banks also.
The major tasks of banks for banks to survive in this competitive environment are by managing
its assets and liabilities in an efficient way so that the bank can earn maximum revenue, profit
while minimizing the risk. To earn the assets especially from loan and advances banks must be
very much cautious wile dealing with loans and advances otherwise these assets will become a
burden for the bank.

38 | P a g e