*Purpose:*
The purpose of this policy is to establish guidelines for the minimum required deposit to open a bank account at MorfinCapital Bank.
*Policy:*
1. The minimum required deposit to open a bank account at MorfinCapital Bank is set at $15000 for all types of accounts.
2. The minimum deposit must be made at the time of opening the account either in cash or through an electronic transfer.
3. Customers may choose to deposit more than the minimum amount at the time of account opening.
4. The minimum required deposit may vary for specific account types or promotional offers, as determined by the bank.
*Implementation:*
1. Bank staff are responsible for informing potential customers about the minimum required deposit when they inquire about opening an account.
2. Online and printed materials provided by the bank shall clearly state the minimum required deposit to open an account.
3. In case of exceptions or special circumstances, approval from the branch manager or a designated authority is required.
4. Any changes to the minimum required deposit policy must be reviewed and approved by the senior management of the bank.
*Compliance:*
1. Compliance with this policy is mandatory for all bank staff involved in opening new accounts.
2. Non-compliance with the minimum required deposit policy may result in disciplinary action.
*Review:*
This policy will be reviewed annually and updated as necessary by the Compliance Department of MorfinCapital.
This policy can be further customized based on the specific requirements and guidelines of the bank.