What is a joint account? A joint account is an account owned by two or more persons. Apart from express provisions made by the signatories on the method of management of such an account, the latter are jointly and severally liable. We talk of active joint liability and passive joint liability. By active joint liability, we mainly mean the possibility of each of the signatories to authorize a payment and to get paid. Passive joint liability on its part, is related to their liability as concerns to any debit in the account.

Can my stolen/ misplaced Flash Cash be reimbursed? Of course yes! You shall be reimbursed in the event of theft or loss of your Flash Cash (s) provided that you produce the following documents:
· the subscription slip of the FC (s)
· the code numbers of the lost/stolen FC(s)
· an attestation of lodge of complaint (in case of theft) or a declaration of loss
· a legalized photocopy of the NIC
· a waiver letter
The bank shall then proceed to freeze the FC(s) that is the object of contention, so that they should not be paid over its network. You have to wait for 60 days as from the date of the stoppage to get paid.
Can a disputed account return to normal? Under normal circumstances, an account is managed by a business manager. Within the context of loan rescheduling, the account management is handed to the Legal Affairs Department. We then talk of disputed account, particularly when the customer has accrued outstanding payments. If the customer pays his debts, his account is once more placed under the management of his manager. In other words, a disputed account can perfectly return to normal.
What is a loan moratorium and how can it be negotiated? A loan moratorium is the rescheduling of the payment period of an ongoing loan. If you are incapable of paying, you can meet our Legal Affairs Manager to negotiate a moratorium. You should submit an application addressed to the General Manager of First Bank. After examination, the moratorium may be granted or not.
What measures should be taken to quickly obtain a mortgage deed? The mortgage deed is signed by the notary in view of classifying the guarantee for the conservation and establishment of the engrossment act that shall permit the effective implementation of the loan. When the loan is granted, it is important that you quickly submit your guarantee (land title) to the Legal Affairs Department for the rapid implementation of your loan, or elso you may miss the business opportunity for which you were soliciting the latter; given that the procedure to register the guarantee is relatively slow.
Why is my account frozen? It sometimes happens that you come for a transaction at our counters and you are told that your account has been frozen. This is generally the case when there is a seizure by a third party holder/ or the opinion of a third party holder has been expressed on the account. You should then report to the Legal Affairs Department to know what to do.
What are you expected to do when a parent who happens to own an account with First Bank dies? In case of the death of one of your parents who owns an account with First Bank, you should immediately inform the bank, which shall hence freeze the account. The funds shall then be dislodged and placed in the deceased customer accounts. Rightful claimants are expected to produce:
- The death certificate
- The engrossment of the heredity judgement (it should bear the executory formula to be valid)
- The certificate of non appeal
- The declaration of succession issued by the taxation services
- The certificate of acquisition of rights (physical persons)
- Non legalized photocopy of the NIC
- The savings book (if it is a passbook account).
Once the documents are examined and proven valid, the Legal Affairs Department shall address a note to the General Manager who orders the establishment of a cheque to the heirs