Resident banking Account means a bank account nominated by the Resident and notified in writing to the Owner or Manager from time to time.Resident account in the context of banking refers to a financial account held by individuals or entities within their own country of legal residence. It serves as a fundamental tool for managing personal finances or conducting business operations locally. Resident accounts are offered by banks to cater to the everyday banking needs of citizens and legal residents, providing a range of services tailored to facilitate seamless financial transactions within the home jurisdiction. For individuals, resident account serves as a hub for various financial activities. It typically includes features such as checking and savings accounts, debit cards, and online banking access. These accounts enable account holders to receive their salaries, make payments, handle bills, and save money securely. Debit cards associated with resident accounts provide convenient access to funds through ATMs and point-of-sale transactions. Online banking services offer the flexibility to monitor account balances, track transactions, and manage bill payments from the comfort of one's home. Moreover, these accounts often come with the option to set up automatic payments and direct deposits, enhancing the efficiency of financial management.