Tag Archives: Basic

Banking

Basic Bank Accounts Comparison

The average customer finds himself being flooded with offers from different banks across the world to open an account. It becomes necessary for him to look to a source which enables him to receive a comparative analysis of bank accounts. Starting right from the type of accounts that the bank provides to you the basic account or a guaranteed banking account, you need to be aware of the fees levied by the bank to open your account.

What are basic bank accounts?

Basic bank accounts are part of the government schemes to aid middle class families who might have trouble opening a normal bank account. They appeal to people who are careful about overspending since overdrafts are not provided for a basic bank account.

Parameters of bank account comparison

The age limit remains a vital factor in comparison bank accounts. Some banks set the threshold to be 18 years while others are more lenient and ask the customer to have completed 16 years of age. It is imperative for the customer to choose a bank that gives you the highest yield at the lowest fees.

Further, having a checking and a savings account enables you to get the highest rate of interest on your savings. New customers need to be aware of the fact that a checking account is the account you will be using for your direct deposit and withdrawal, for this reason, comparison banks is mandatory.

This mandates the customer to look for a bank which offers minimal or zero transaction charges. Further, the customer should deem it necessary to check out the benefits and rewards for opening an account with a particular bank. Most banks offer a free day-to-day banking system.

Comparison of Banks – Presence

Customers should make sure that the banking cards are accepted world over. With the whole banking system being taken online, the mode of Internet banking and online transactions become an essential parameter of bank account comparison.

For More Information about bank account comparison please visit our website at http://www.comparebankaccount.co.uk/

Banking

Banks Away from Home: A Basic Guide to Offshore Banking

Most people have a misconception that offshore banking involves making transactions with any bank outside the country. However, offshore banking is actually exclusive to certain banks in other countries that provide extra benefits for foreign investors, putting great emphasis on the security and privacy of their clients. Other nations created offshore banking for foreign countries to help develop their economy and cut down unemployment rates. Anybody can be qualified to do offshore banking, provided that there’s no tax evasion or lawbreaking involved.

If you compare offshore banking to conventional banking, you’ll notice that both share a lot of similarities. They both have checking and savings accounts, they allow you to use credit cards, they can approve loans and other financing options such as mortgages, and you can even save your money as time deposit. However, unlike local banks, most offshore banks are linked to financial centers in their respective countries. The amount of minimum deposit for different banks can range from as low as a few hundred dollars to around 10,000 dollars or more.

One of the biggest reasons why many people prefer offshore banking is the added security and privacy of information. There are far less people that are interested in your information offshore than in the country; that alone keeps your money a lot safer than it is in a local bank. Aside from that, most offshore banks are based in countries with lower tax rates, so you get to save more in the long run.

Of course, as with most things, dealing with an offshore banking bank requires caution. One of the most popular misconceptions regarding offshore banking is that you can avoid tax laws. You are required to report your bank account if it has over 10,000 dollars in it. Of course, one of the best things you can do to make sure your money is safe is to consult a financial expert on a regular basis.

When choosing an offshore bank, you need to check the financial center linked to the bank. Make sure that the majority of the member or stakeholders are solid; otherwise, the group might collapse with your money in their hands. Of course, it’s always better to choose established offshore banks rather than those in the beginning phases of offshore bank formation.

Finally, doing business with an offshore bank Bahamas or any country has involves a lot of cash. Apart from the stability of the bank, ensure that it is legitimate too.

If you have questions, please visit us at www.immediatecapital.com for complete details and answers.

Banking

Basic Facts About Internet Banking For Consumers

People who have bank accounts regularly must do things with them, like pay bills. It’s typically easier for them to do these transactions themselves, as opposed to go by means of a bank employee to get them carried out. Having consumers perform their own transactions also reduces the bank’s cost of providing service. By supporting self service banking, World wide web banking advantages both the bank and its clients.

Banks have been working towards self service facilities for their buyers for fairly a although. Telephone based systems were very first implemented nearly 40 years ago, and are still used successfully right now. Sadly, the voice interface is challenging to use for complex situations, or when huge amounts of data are requested.

There had been many attempts to develop on the internet banking systems with keyboards and visual output, going back as far as the early 1980s. Some of these had limited success, but never on a big scale. The growth of the Internet to a nearly universal network, coupled with the wide adoption of ever cheaper personal computers as well as the world wide web, developed a platform for mass market access to on the internet banking.

These days there are few banks that do not have an World wide web banking system based on the world wide internet. In fact for some banks, commonly called Net banks, this could be their only interface for consumers who wish to process routine transactions. The minimum set of functionality tends to be transfers of funds between accounts, payment of bills, and responding to customer inquiries.

Probably the most basic customer inquiry would be to get current account balances. Recent account activity, and recent account statements, may possibly also be available to this function. 1 of the more recent developments is the ability to view facsimiles of recently paid checks.

Bill payment systems could be limited to payments to payments to accounts located at the bank providing the service. Nowadays it is much more widespread to have the ability to pay to accounts at most companies, even other banks. It may also be possible to pay individuals. Occasionally a repetitive payment may be set up to automatically pay the exact same quantity to the same payee on the exact same day of every single month. Most systems mandate that a link to the party being paid be established just before payments are generated.

Moving cash from one account to another is carried out via the transfer between accounts transaction. This could or could not be limited to accounts at the identical bank. Another variable is whether the accounts need to have frequent owners or not.

World wide web banking isn’t limited to the above transactions. Some systems permit payment of a check to be stopped. Reordering checks for a checking account may possibly also be achievable. The general rule is that transactions which are regularly executed and which aren’t too complex may be performed far more price successfully with Net banking than with other means that need a bank employee to be involved.

Since Internet banking systems have access to customer funds, security is extremely crucial. The system ought to be careful to authenticate that the individual logging in is the customer they claim to be, generally be requiring the use of a login userid and password. There really should be a complete audit trail of system actions, so that investigation of issues might be thorough.

Net banking is great for the bank along with the customer. It gives far better service at a lower price. It’s just 1 of several services that are facilitated by the universality of the World wide web.

Everything you need to know about absa internet banking services now in our overview of entry level finance tips and advice.

Banking

Basic Computer Knowledge for Banking Exams

 

Computer has become an inevitable part of life and office environment. It’s like without computer an organization cannot run. That is the bang of computer. So it is very essential that students or candidates who wish to be part of the bank should have little computer knowledge. If the candidate wishes to be placed in bank or anywhere then he has to have some knowledge of computer.

In every bank there are special banking softwares which are designed as per the convenience of the banking officers. But before installation of the software the staff has to be well trained so that there are no complications when the clients want to open an account in the bank.
Therefore computer knowledge is a must and nevertheless if the candidate is not associated with IT department then also it is necessary for everyone to learn computer. Banks spend crore of rupees on developing software so that the priceless data of its customers can be saved and reutilized. Computer knowledge is required and one can do any computer course or a full time computer course to educate them in that field. There are courses like Tally which is a learning tool and a ticket to enter banking and insurance sector.

Some of the Computer related questions asked in bank exams are:-
• What typically connects personal computers within a very limited geographical area, usually within a single building?
Answer – LAN
• Computers manipulate data in many ways, and what is this manipulation is called.
Answer – Processing
• An e-mail address typically consists of a user ID followed by the ____ sign and the name of the e-mail server that manages the user’s electronic post office box.
Answer – @
• What is an ad hoc query?
Answer – pre scheduled question
• A Web ____ consists of one or more Web pages located on a Web server.
Answer – site
• A computer ____ is a set of program instructions that can attach itself to a file, reproduce it and spread to 2 other files.
Answer – Virus

Computers knowledge include feeding the data of the clients, updating their accounts, making passbook entry, calculating interest and being internally connected to the co workers. No bank has same software. But the software which is used in head office can be used by the branch office. Huge software companies are involved in making the software so that there is enough security and safety for the customers. 
A full time course in Computer can place the candidate in best of the banks. There are so many opportunities which are waiting for the students who are really interested in IT and ITES. When we talk about computer knowledge for banking jobs it does not mean that the bank is looking for an eligible candidate in IT department. Bank is trying to say that there is vacancy in finance department, for example but the candidate should have computer knowledge. It means that he should be at least able to operate simple bank transactions and should be well versed in basics of computer.

Thus IT vacancy is different and computer knowledge for banking job is different. They are not connected at all. To make the long story short in today’s world computer knowledge is a must in any field and for any job.

Nitin G writes on behalf of various career portals in India. He writes on different topics like career options, banking exams, eligibility for bank po exams, govt bank jobs and improving work concentration.

Banking

Basic Facts About Internet Banking

Commercial banks supply checking and savings accounts, credit cards, and numerous types of loans to consumers and companies. 1 of the major costs of supporting these accounts is the servicing of customer inquiries and transactions. Net banking supplies a means to both decrease the cost of this servicing and to supply greater customer service.

Facilities for customer self service have been around for a minimum of 40 years. Telephone based systems, which still exist today, had been the earliest form of this. They’re adequate for basic transactions, but the spoken interface becomes inadequate when dealing with many choices or huge amounts of transactions.

Visual display systems had been tried beginning within the early 1980s. Several experimental devices and interfaces had some success, but widespread adoption of these systems never happened. It took the combination of widely offered personal computers with access to the World wide web, as well as the world wide internet, to make this approach successful inside the marketplace.

Most banks right now have some sort of Web banking systems. These are implemented making use of the world wide internet. For so-called World wide web banks, these systems are the primary or only customer interface. Most of them at least support customer inquiries, bill payment, and transfer of funds between accounts.

Customer inquiries at a minimum allow clients to check their account balances. In most instances they’ll also be able to see recent activity on their accounts. They may also have the ability to take a look at recent account statements. Some systems will enable them to view copies of recently cleared checks.

Bill payment systems at a minimum will enable consumers to make payments on accounts domiciled with the bank that holds the account being accessed. In most instances they’ll also allow payments to be made to other banks and to companies in general. They might or may not enable payments to people. In a lot of cases repetitive payments may be established, so that, as an example, a mortgage payment for a fixed quantity might be automatically generated on the identical day of each and every month. It is usually the practice to need that the linkage to the payee be established just before any payment could be made.

Transfers between accounts typically enable cash to be moved from the account being accessed to other bank accounts. This might be limited to accounts at the domiciling bank, but some banks permit funds to be transferred to other accounts. Likewise, funds can usually be transferred to accounts owned by 1 or far more of the owners of the account being accessed. It might also be possible to transfer money to accounts owned by other persons.

Other transactions could be feasible. The customer may have the ability to stop payment on a check. They may possibly also be able to reorder checks. The fundamental principle is that for typical, reasonably basic transactions, it is a lot more economical to enable customers to do their own transactions than to require the customer to work with a bank employee to do them.

Security is usually a concern with systems like this that access funds. Customer authentication methods, including signing in with a userid and password, must be reasonably robust. Logging and tracking of customer activity wants to be thorough, to ensure that within the event of a security violation, the scenario can be investigated and resolved, and hopefully the perpetrator may be identified.

Internet banking is really a classical example of a win win situation. It makes things better for both the customer and also the bank. It’s also an example of a kind of system that would be significantly harder to implement with out a universal network like the Web.

Everything you need to know about absa internet banking services now in our complete guide to entry level finance tips and advice.