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    Banking

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    Nancy Drew fan
    The document defines and describes various types of bank accounts and services: 1) Current accounts allow convenient access to funds on demand for business or personal use but do not earn interest. 2) Savings accounts allow customers to set aside funds and earn interest but cannot be used directly as a payment method. 3) Credit cards allow cardholders to pay for goods and services with the promise to pay back the amount later.

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    Attribution Non-Commercial (BY-NC)
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    Banking

    Uploaded by

    Nancy Drew fan
    28 views5 pages
    The document defines and describes various types of bank accounts and services: 1) Current accounts allow convenient access to funds on demand for business or personal use but do not earn interest. 2) Savings accounts allow customers to set aside funds and earn interest but cannot be used directly as a payment method. 3) Credit cards allow cardholders to pay for goods and services with the promise to pay back the amount later.

    Original Description:

    Facilities offered by a bank.

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    The document defines and describes various types of bank accounts and services: 1) Current accounts allow convenient access to funds on demand for business or personal use but do not earn interest. 2) Savings accounts allow customers to set aside funds and earn interest but cannot be used directly as a payment method. 3) Credit cards allow cardholders to pay for goods and services with the promise to pay back the amount later.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    28 views5 pages

    Banking

    Uploaded by

    Nancy Drew fan
    The document defines and describes various types of bank accounts and services: 1) Current accounts allow convenient access to funds on demand for business or personal use but do not earn interest. 2) Savings accounts allow customers to set aside funds and earn interest but cannot be used directly as a payment method. 3) Credit cards allow cardholders to pay for goods and services with the promise to pay back the amount later.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 5

    1. 2. 3. 4. 5. 6. 7. 8. 9. 10.

    CURRENT ACCOUNT SAVINGS ACCOUNT CREDIT CARD DEBIT CARD AUTOMATED TELLER MACHINE(ATM) MOBILE BANKING ONLINE BANKING TELEPHONE BANKING MUTUAL FUNDS LOANS

    Current account :

    A current account is a deposit account held at a bank for the purpose of securely and quickly providing frequent access to funds on demand, through a variety of different channels. Current accounts are meant neither for the purpose of earning interest nor for the purpose of savings, but for convenience of the business or personal client; hence they tend not to bear interest. Instead, a customer can deposit or withdraw any amount of money any number of times, subject to availability of funds.

    Savings account :

    Saving accounts are accounts maintained by retail financial institutions that pay interest but cannot be used directly as money in the narrow sense of a medium of exchange (for example, by writing a cheque). These accounts let customers set aside a portion of their liquid assets while earning a monetary return.

    Credit Card :

    A credit card is a payment card issued to users as a system of payment. It allows the cardholder to pay for goods and services based on the holder's promise to pay for them. The issuer of the card creates a revolving account and grants a line of credit to the consumer (or the user) from which the user can borrow money.

    Debit Card :

    A debit card is a plastic payment card that provides the cardholder electronic access to his or her bank account(s) at a financial institution. The card, where accepted, can be used instead of cash when making purchases. In some cases, the primary account number is assigned exclusively for use on the Internet and there is no physical card.

    ATM : An ATM card is a payment card provided by a financial


    institution to its customers which enables the customer to use an automated teller machine (ATM) for transactions such as: deposits, cash withdrawals, obtaining account information, and other types of banking transactions

    Mobile Banking : Mobile banking is a system that allows


    customers of a financial institution to conduct a number of financial transactions through a mobile device such as a mobile phone or personal digital assistant.

    Online Banking : Online banking (or Internet


    banking or E-banking) allows customers of a financial institution to conduct financial transactions on a secured website operated by the institution, which can be a retail bank, virtual bank, credit union or building society.

    Telephone Banking : Telephone banking is a


    service provided by a bank or other financial institution, that enables customers to perform financial transactions over the telephone, without the need to visit a bank branch or automated teller machine. Telephone banking times can be longer than branch opening times, and some financial institutions offer the service on a 24 hour basis. From the bank's point of view, telephone banking reduces the cost of handling transactions by reducing the need for customers to visit a bank branch for non-cash withdrawal and deposit transactions.

    Mutual Funds:
    Loans

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