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Duties & rights of a banker and customer rights
What is the primary duty of a banker towards a customer regarding account information?
A banker has a strict duty of secrecy and must not disclose any information about a customer's account to any third party without the customer's consent, legal compulsion, or public duty.
What is the banker's duty of secrecy as established in the Tournier v National Provincial Bank case?
Bank must not disclose customer information to third parties.
Under which circumstances can a bank legally disclose customer information without consent?
A bank can disclose customer information under compulsion of law (court orders, RBI/IT authorities), duty to the public (fraud prevention), bank's own interest (recovery proceedings), or with express/implied customer consent.
What is the duty of a banker when a customer countermands payment of a cheque?
Bank must stop payment immediately upon receiving valid countermand.
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