BANKING SERVICES

What is a function of commercial banks?

• acting as bankers to government

• deciding interest rates for savers and borrowers

• lending to businesses and personal customers

• organising import and export trade

Which banking service is used if money is urgently required overseas?

• bank draft

• cheque

• direct debit

• electronic transfer

Which service is NOT available to bank customers through Automatic Teller Machines (ATMs)?

• checking the balance of their accounts

• organising personal loans

• requesting printed bank statements

• withdrawing cash

A trader with a bank current account wishes to make monthly payments for a trade journal. Which method of payment would be most suitable to use?

• bank draft

• bank notes

• cable transfer

• standing order

On what type of bank account may a trader draw cheques?

• current account

• deposit account

• investment account

• loan account

A night safe is used for the safekeeping of

• cheque books when they are not in use.

• jewellery and important documents.

• money collected after banking hours.

• money deposited during the day.

Banks provide automatic teller machines (ATMs) at which customers can use debit cards to obtain cash. For which other purpose can a customer use an ATM?

• checking the balances of accounts

• exchanging bank notes for coins

• organising a personal loan

• requesting an interview at the bank

Which banking service is not available on the Internet?

• obtaining a bank statement

• paying into creditors’ bank accounts

• using direct debits

• withdrawing cash

A bank’s client receives several bills, which vary in amount, at irregular intervals. Which method of payment is the most suitable for the client?

• bank giro

• cheque

• direct debit

• standing order

Why has there been a rapid increase in Internet banking?

• Customers can make use of bank services at home.

• Customers require personal service.

• Internet banking companies provide free gifts.

• The Internet is secure from fraud.