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(TACN 7) UNIT 1: BANKING
(P2: TYPES OF ACCOUNT, CARD..), 7 Differences, -…
(TACN 7) UNIT 1: BANKING
(P2: TYPES OF ACCOUNT, CARD..)
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Deposit account
Compare current account (A) with deposit account (B)
- Meaning:
A (held at a bank or other financial institutions, for the purpose of securely and quickly providing frequent access to funds on demand, through a variety of different channels);
B (a fixed sum of money is deposited into a bank account for a fixed period)
- Purpose:
A (facilitate regular transactions)
B (earn sum of money through interest rate)
- Who operates?
A (businessman and organizations that have a higher number of regular transactions with the bank)
B (Individuals and organizations who have idle money)
- Interest: A (no interest is paid); B (high interest)
- Maturity: A (no maturity); B (fixed period and can be further renewed)
- Withdrawal: A (without restriction): B (pay a penalty)
- Cheque book (sổ phiếu): A (get cheque facilities, but usually for withdrawal); B (get a cheque book but a deposit receipt)
Personal account
An account for use by an individual for their own needs. Be used to differentiate them from those accounts for corporate or business use
May be used for
- financial accounts at banks
- service accounts such as accounts with the phone company, electric company...
Check/ Cheque
Parts (7)
- Drawee (người bị ký phát- thường chỉ trong séc, ko có ở hối phiếu)
- Payee (người đc nhận tiền)
- Drawer (người ký phát- trong cả séc và hối phiếu)
- Date of issue
- Amount of currency
- Machine readable routing and account information (thiết bị đọc thông tin tài khoản và định tuyến)
- Counterfoil (cuống séc)
Types (5)
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Open cheque (séc trơn)
- Be cashed at any bank
- he payment for these cheques can be obtained at the counter of the bank or transfered to the bank account of the bearer
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-
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Debit card/ Credit card
Debit card
International debit card
- You can use it to transact internationally.
- You can use it outside the card's issuing country for any transactions including withdrawing money from ATMs
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Credit card
- Be part of a system of payments named after the small plastic card issued to users of the system.
- Be a card entitling its holder to buy goods and services based on the holder's promise to pay for these goods and services.
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How to get?
- Make sure you're ready for your first credit card
- Get a job
- Don't be discouraged by denials
ATM card/ Smart card
ATM card: (3)
- an ISO/ IEC 7810 card
- isssued by financial institution
- can be used at an ATM, often used through interbank network
Types
- ATM only card
- ATM card combined with credit card
- ATM card combined ưith debit card
Uses:
- ATM uses:
All ATM machines will permit cash withdrawals .....for cards that are affiliated with any ATM network the machine is also affilated with
-> Thẻ liên kết hệ thống cái mà máy ATM cũng liên kết với hệ thống đó
- Non- ATM uses:
Some ATM cards can also be used at a branch as identification for in-person transactions at merchants
Smart card (4- chip- data- reader-system)
- A type of chip card
- A plastic card that contains an embedded computer chip - either a memory or microprocessor type that stores and transacts data
- This data is usually associated with either value, information, or both and is stored and processed within the card's chip.
- The card data is transacted via a reader that is part of a computing system.
- The systems used with smart cards are applied in some key fields including healthcare, banking, entertainment and transportation
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--> CHÚ Ý MẪU CÂU:
- Cash a cheque: đổi séc lấy tiền mặt
- Encash sth: đổi sth (cheque,..) lấy tiền
- Credit your account
- Credit +số tiền + to your account
Phân biệt Credit card (A)/ Debit card (B)
1. Core differences:
A:
- make at least the minimum payment every month by the due date on the balance
- interest charges be applied from the date of the transaction for balance transfers and or cash advances
B:
- withdraw money directly from your checking account
- not a loan, no interest is charged
2. Transactional and Fee Differences
A:
- An annual fee or other fees associated with it
- If make a late payment, be charged a late fee.
B:
- Do not charge annual fees
- May carry overdraft fees if there are insufficient funds in the associated checking account
Applications of smart card (6)
1. Payphone (don't have to collect coins or remember long access numbers or PIN codes)
2. Mobile communications (identification device for GSM digital mobile phones)
(GSM: Global system for mobile communication- hệ thống toàn cầu dành cho việc liên lạc di động)
3. Banking and Retail
(used as credit, direct debit, or stored value cards, offering a counterfeit- and tamper-proof device)
4. Electronic purse (ví điện tử)
(used to store a monetary value for small purchases)
5. Health care
(allow the information for a patient's history to be reliably and safely stored)
6. ID verification and access control
(allow running mutual authentication and public-key encryption software in order to reliably identify the bearer of the card