Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Buisness > Banking & Money > Flashcards

Banking & Money Flashcards

1
Q

What is a night safe

A

They are vaults which are outside the bank which allows customers to deposit cash and checks after hours. Customers are provided with a key and the money is then launched into their account the following morning

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What is Internet banking

A

Allows customer to access back in 24hours a day. Check balance. Check bank statement online. Order printed statements. Transfer funds to other accounts.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What is 24 hour banking

A

Allows customers to access back into resist 24 hours a day

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

What are the characteristics of 24 hour banking

A

Check balance – check bank statement online – order printed statements – transfer funds to other accounts – pay bills – order cheque-book

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Define credit worthiness

A

It is the ability to pay back alone

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

What is money laundering

A

The practice of hiding the source of money (it is a crime)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What is a current account

A

It is an account that people get their wages/salary paid into it is used to pay for it a day-to-day basis. The account holder will be given a debit card.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

What is money

A

It is anything that is generally accepted by the majority of people exchange for goods and services

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What is barter

A

It is the exchange (swapping) of one good for another

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What is a means of exchange

A

When we give money in exchange for items we want or need

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

What is the means of saving

A

When you produce more goods than you need if you can exchange them for money and save the money

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What is a system of credits

A

(By now, pay later) – you can borrow money from the bank to buy goods and repay the overtime

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Where is cash or currency issued

A

The European Central bank (ECB)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What is a check

A

It is a written instruction to a bank to pay a sum of money to a named person or business

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

What is a travellers check

A

The travellers check can be exchanged for cash in the bank or bureau did change that in foreign country

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What is the longer way of saying EFTPOS

A

Electronic funds transfer at point of sale (also known as plastic money)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Define debit cards (Laser card)

A

Allows person with bank account to spend money from account with out using cash checks – protected by pin

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

What is a credit card

A

The credit card is like another way of borrowing money that is to be paid back. The money does not come out of the person’s bank account

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

What is a charge card

A

The amount of wood must be paid back once received their statement

20
Q

What is the smartcard

A

The work similarly to a prepaid phone. Smart heard can be used by banking and nonbanking customers

21
Q

What is Pat path

A

And employer transfers and employees wages/salary directly from their bank accounts to the employees bank account

22
Q

What is a standing order (SO)

A

A bank account holder instruct the bank to pay a fixex amount of money to a particular person/company at the same time every month

23
Q

What is direct debit (DD)

A

A bank account holder instruct the bank to allow certain company to take a very amount of money from their bank account on a regular basis. The bank account holder has filled in a form giving the company permission to take the money and the form states how much they can take

24
Q

What is credit transfer

A

Transferring money from one bank account to another person’s bank account. It can be done online by Internet banking

25
Q

What is PayPal

A

The customer registers their financial details with PayPal we can then use PayPal for online purchases

26
Q

Define credit worthiness

A

It is the ability to pay back alone

27
Q

What is money laundering

A

The practice of hiding the source of money (it is a crime)

28
Q

What is a current account

A

It is an account that people get their wages/salary paid into it is used to pay for it a day-to-day basis. The account holder will be given a debit card.

29
Q

What is money

A

It is anything that is generally accepted by the majority of people exchange for goods and services

30
Q

What is barter

A

It is the exchange (swapping) of one good for another

31
Q

What is a means of exchange

A

When we give money in exchange for items we want or need

32
Q

What is the means of saving

A

When you produce more goods than you need if you can exchange them for money and save the money

33
Q

What is a system of credits

A

(By now, pay later) – you can borrow money from the bank to buy goods and repay the overtime

34
Q

Where is cash or currency issued

A

The European Central bank (ECB)

35
Q

What is a check

A

It is a written instruction to a bank to pay a sum of money to a named person or business

36
Q

What is a travellers check

A

The travellers check can be exchanged for cash in the bank or bureau did change that in foreign country

37
Q

What is the longer way of saying EFTPOS

A

Electronic funds transfer at point of sale (also known as plastic money)

38
Q

Define debit cards (Laser card)

A

Allows person with bank account to spend money from account with out using cash checks – protected by pin

39
Q

What is a credit card

A

The credit card is like another way of borrowing money that is to be paid back. The money does not come out of the person’s bank account

40
Q

What is a charge card

A

The amount of wood must be paid back once received their statement

41
Q

What is the smartcard

A

The work similarly to a prepaid phone. Smart heard can be used by banking and nonbanking customers

42
Q

What is Pat path

A

And employer transfers and employees wages/salary directly from their bank accounts to the employees bank account

43
Q

What is a standing order (SO)

A

A bank account holder instruct the bank to pay a fixex amount of money to a particular person/company at the same time every month

44
Q

What is direct debit (DD)

A

A bank account holder instruct the bank to allow certain company to take a very amount of money from their bank account on a regular basis. The bank account holder has filled in a form giving the company permission to take the money and the form states how much they can take

45
Q

What is credit transfer

A

Transferring money from one bank account to another person’s bank account. It can be done online by Internet banking

46
Q

What is PayPal

A

The customer registers their financial details with PayPal we can then use PayPal for online purchases

Buisness (7 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions