Bank Branch

Wadau leo nataka mnifunze, what does banks mean when they ask for your branch? Can they just deal with a customer at any of their outlets given the data is centralized? Even while depositing an entity tells you to write a particular branch on the receipts. What does it have to be so.

Maybe to get data on how their branches are performing? In relation to the branches customers.
Each branch of bank has its targets in terms of loans, customer deposits etc

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what does banks mean
wah! issorait

It’s part of the verification process

Though it’s rare, it is possible that clients in different branches could be having the same account number but the difference is brought about by combining the branch and the ac number.
I think it also makes searches more efficient so that you only search from a specific branch instead bof searching the entire bank db.

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Can’t happen, when receiving a swift transfer there is nothing like branch.

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On the contrary. There is a branch code. Makes sorting faster.

You are right

A full account number comprises
[ol]
[li]bank Code-[/li][li]Branch Code[/li][li]Account Number[/li][/ol]
So, it is possible to have account number 1234 at KCB Kipande rd and an account number 1234 at KCB kencom. Still, you can have account number 1234 at equity and family and whichever other banks. But when you append the branch and bank codes, the final account numbers are different.

  1. Check digit

Branch name is important for future reference but not for the transaction per se. If a customer lose the copy and needs a replacement, for example, it will be quicker to retrieve the original copy. Secondly, it is an audit requirement to complete all fields. Tellers are usually roasted during audits for failing to have the customer complete details on slips. That’s why tellers ask you to fill all the spaces because of audit, if for nothing else. In some instances, some banking systems are still backward and require the inputter to “switch branches in the system” in order to complete the transaction