Bank Mandate
(redirected from Bank Mandates)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.
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.