Bank Mandate

Bank Mandate

1. A document issued by a bank to another bank requesting that the second bank allow a customer to open an account, conduct transactions and generally receive privileges as if he/she were an existing account holder.

2. A standardized, contractual agreement outlining the rights and responsibilities a bank and a customer have toward each other. The bank prepares the bank mandate and periodically updates it.
References in periodicals archive ?
He stressed that the move to create a formal peso-renminbi spot market was not the result of a central bank mandate, but that of regulators responding favorably to a proposal put forth by Bank of China.
Global Banking News-November 7, 2017--New Zealand government to review central bank mandate
Following the rapid and seamless transition from NBFC to banking operations, we have now established the operating base that we believe is poised to deliver sustainable growth over several years by bringing the benefits of a full-service bank to a large number of Indians, including in unbanked areas given our experience of 20 years in serving such markets and basis our small finance bank mandate," said MD and CEO AU Small Finance Bank, Sanjay Agarwal.
At the British Polio Fellowship he persuaded an elderly trustee to sign a bank mandate in his favour.
This approach is aims at nurturing and developing National talents while achieving the Central Bank mandate of growing UAE National headcount in key senior positions in the private sector.
In recent months, it has hosted a number of well-attended events in partnership with Newcastle University Business School, tackling everything from corporate governance to bank mandate fraud.
The standing order bank mandate is for a NatWest branch in nearby Brighton, from where many of the frauds of this type emanate.
He was also shown a NatWest Bank mandate giving him authority to sign for the accounts and carrying his signature, but he said he could not remember agreeing to it.
In December 1991 she signed a bank mandate giving Angela Entwistle, Mr Ashcroft's personal assistant, the authority to sign cheques on her four accounts held with the Bank of Scotland.
The move is expected as the new government is formulating its policies, including planned changes to the central bank mandate.
APARTNER in The Journal's Pay Fair campaign is to host an event to help companies tackle the threat of bank mandate fraud.
PORTLAND, Maine -- Speranza Systems, an innovator in web based solutions for global bank account, bank mandate and bank relationship management, today announced that Masco Corporation (NYSE:MAS), one of the world's leading manufacturers of home improvement and building products with such well known brands as Delta Faucets, Behr Paints and Merillat Cabinets, as well as a leading provider of installation services and various building products will utilize the Speranza Command Center.