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ACCOUNT KIT & INTERNET

BANKING

WHAT ACCOUNT KIT CONTAINS?

WELCOME LETTER DEBIT CARD DEBIT CARD PIN CHEQUE BOOK PASS BOOK

CODE OF BANK COMMITMENT’S TO CUSTOMER

MOST IMPORTANT TERMS AND CONDITION OF DEBIT CARD

DEBIT CARD

A debit card (also known as a bank card, plastic card or check card) is a plastic payment card that can be used instead of cash when making

purchases. It is similar to a credit card, but unlike a credit card, the money comes directly from the user's bank account when performing a transaction

Most INDIAN banks issue VISA and Maestro debit cards.

NATIONAL PAYMENT CORPORATION OF INDIA introduced RUPAY card

DEBIT CARD • A debit card (also known as a bank card , plastic card or

ADVANTAGES OF DEBIT CARD

No need to carry cash. Does not increase your debt.

Use of debit card is limited to existing funds in the account of which it is linked.

A customer who is not credit worthy may find it difficult to obtain a credit card more easily

than a debit card .

CHEQUE

A cheque is a negotiable instrument instructing a financial institution to pay a specific amount of a specific currency from a specified transactional account held in the drawer's name with that institution. Both the drawer and payee may be natural persons or legal entities.

CHEQUE • A cheque is a negotiable instrument instructing a financial institution to pay a specific

TYPES OF CHEQUE

BEARER CHEQUE

ORDER CHEQUE

CROSSED CHEQUE

BLANK CHEQUE

POST DATED CHEQUE

ANTI DATED CHEQUE

STALE CHEQUE

MUTILATED CHEQUE

TRAVELLERS CHEQUE

TYPES OF CHEQUE • BEARER CHEQUE • ORDER CHEQUE • CROSSED CHEQUE • BLANK CHEQUE •

ESSENTIALS OF A CHEQUE

1. It must be in writing: A cheque must be in writing. An oral order to pay does not constitute a cheque.

2. It should be drawn on banker: It is always drawn on a specified banker. A cheque can be drawn on a bank where the drawer has an account, saving bank, or current.

3. It contains an unconditional order to pay: A cheque cannot be drawn so as to be payable conditionally. The drawer’s order to the drawee bank must be unconditional and should not make the cheque payable dependent on a contingency. A conditional cheque shall be invalid.

4. The check must have an order to pay a certain sum: The cheque should contain an order to pay a certain sum of money only. If a cheque is drawn to do something in addition to, or other than to pay money, it cannot be a cheque. For example, if a cheque contains ‘Pay USD 500 and a TV worth USD 500 to A‘ it is not a cheque.

5. It should be signed by the drawer and should be dated: A cheque does not carry any validity unless signed by the original drawer. It should be dated as well.

6. It is payable on demand: A cheque is always payable on demand.

7. Validity: A cheque is normally valid for six months from the date it bears. Thereafter it is termed as stale cheque. A post-dated or antedated cheque will not be invalid. In both cases,

the validity of the cheque is presumed to commence from the date mentioned on it.

8. It may be payable to the drawer himself: Cheques may be payable to the drawer himself/herself. It may be drawn payable to bearer on demand unlike a bill or a pro-note.

Explanation on bottom of a cheque

First six digits xxxxxx represent cheque number

The next 9 number after cheque number represents “MICR CODE”.MICR is

Magnetic ink character recognition. MICR code helps bank to identify the bank and branch that has issued the cheque ,basically bank uses cheque reading machine which identifies bank and branch code to sort the cheques faster .MICR code can be broken into 3 parts.1.

1.City code- First three digits represents city code ,it is same as pin code of the city.

2.Bank code- Next three digits represent bank code. 3.Branch code Last three digits represent the branch code.

Finally last two digit represent Transaction id, this indicates whether cheque is a local cheque or payable at par cheque.

PASS BOOK

PASS BOOK

INTERNET BANKING

Online services started in New York in 1981 when four of the city’s major bank :

CITI BANK CHASE MANHATTAN CHEMICAL BANK MANUFACTURERS HANOVER

INTERNET BANKING • Online services started in New York in 1981 when four of the city’s

-Offered home banking services using the video text system.

What is Internet banking?

Internet banking allows you to conduct bank transactions online, Instead of finding a bank and interacting with teller.

In broad sense ,it is use of electronic means to transfer funds directly from one account to another account ,rather than by cash or cheque.

Definition

“A system of banking in which customers can view their

account details, Pay bills and transfer money using internet”

SERVICES THROUGH NET BANKING

SERVICES THROUGH NET BANKING • • • • • • • • • • Viewing account

Viewing account balance

Downloading bank statement Loan application and transactions Ordering cheque book

Bill payment

Shopping Ticket booking Fund transfer

Credit card details

Apply for IPO

SERVICES THROUGH NET BANKING • • • • • • • • • • Viewing account

How to access internet banking ?

Step 1- Obtain username and password from your bank . Step 2-GO to your bank website Step 3-click on login Step 4- enter your login id and password

Advantages of Internet banking

Disadvantages of Internet banking

Conclusion