CHAPTER 2 : INTERNATIONAL COMMERCIAL BANKING (THE EFFECT OF INTERNATIONAL…
1) It is used for delivering financial services without
relying on bank branches.
2) It also can be used as a separate channel strategies
that entirely forgoes bank branches.
3) Examples : banking mediums of transactions are the internet, ATMs, mobile phones.
4) Advantages :
~ Very mobile
~ Open up to 24 hours a day
~ Small fees for the agents
~ No need for bank account
~ No paperwork
b) Deposit Facilities
:<3: allowed to offer its services to Malaysian and its non-residents and also to the institutions
:<3: Demand Deposit. it is a checking account in which the owner account is entitled to receive his or her funds on demand and to write checks on the account which transfer legal ownership of fund to others.
:<3: Checking Account. they serve as the basic medium of exchange in the economy , amounting for about half of the total money supply.
:<3: Savings Deposit. when funds were deposited , the passbook had to be presented and the transaction recorded in it.