Professional Documents
Culture Documents
The varied services of the financial sector are carried out by a large number of financial
institutions which all have one thing in common: they all collect funds from the public and
then use these funds to make loans and investments
Commercial banks (known as clearing banks) provide a very wide range of services to
costumers. Core banking operations can be classified as traditional branches of banking,
electronic transfers and non-financial branches of banking.
ATM: Automated Teller Machines: they tan dispense cash from the clients current account.
ACH: Automated Clearing Houses: they make debit and credit transfers between banks
easier, quicker and safer
POS: Point of sale terminals: computerized cash registers connected to a banks computer
terminal. If a consumer buys something and pays by card it automatically transfers the
required amount of any purchase to the stores account
Executor and trustee services: banks are allowed to handle real estates or personal property on
the basis of trusteeship when people die; they manage pension funds as well.
Insurance services
Economic information
Internet Banking
Services:
Loading statement of your account in the same form that you would receive by post.
You can give a transfer order to one account or a group transfer order to several, different
accounts
You can open credit accounts, currency account (transfer in currency, exchange operations,
tying up) or securities deposit account
Retail customers can open savings accounts and handle deposit accounts.
To whom it is recommended:
To one-man businesses
Advantages:
You can settle the transfers more easily with computer programs.
Note: The customer has to sign an internet banking contract with the bank and then he will get
the necessary software to be able to connect to the system. Some banks do not require
software.
Vocabulary
branch bankfik
tying- up lekts
turnover forgalom