BANKER AND CUSTOMER RELATIONSHIP

1. When a Person maintain a deposit account with the bank, principal relationship between the two is one of- Debtor and Creditor.
2. Upon the banker's allowing an overdraft to customer in his current account, the relationship between the two will be that of- Creditor and Debtor.
3. While collecting cheques/bills etc. for a customer, the bank act as- An agent of the customer.
4. When a customer deposits a sealed box with the bank for safe custody, the relationship between the two is that of- Bailor and Bailee.
5. When a customer takes a locker in the Bank, the relationship between the bank and the customer is one of- Lessor and Lessee.
6. When a customer gives standing instruction to the bank for remitting a specified sum of money every month towards payment of his rent to a person, the bank act as-an agent of the customer.
7. In case the securities or documents are deposited by a customer for purpose of safe custody the banker deals with them according to the instructions of the customer, the position of the banker is that of a- trustee.
8. When a banker undertakes to pay bills domiciled on him by his customer, the relationship between the two is that of- Principal and Agent.