...through the paypal website it won’t be required again as only the login of your paypal account is required for the transaction of money to occur between the buyer and seller online. NoChex is a payment service available on eBay which lets users gain and make payments securely to each other online through affordable transactions. This may also be done by transferring money from and to bank accounts by also transferring money to another users NoChex account without having to pay many fees when doing so. It may also be done when making payments for purchasing products off other users, but the transfer can only be made if both users have a NoChex account registered along with their credit or bank card details, as they will be put safely onto the account once so the transfer of money can be made efficiently and safely. Credit or debit cards may also be a payment system which is used by ecommerce organisations such as Argos which can be used to make payments online from the buyer to the seller. The card details may only have to be inputted once when making a transaction as an Argos account is also be required for you to purchase goods through your credit card, therefore it will require you to sign up and create an account before you are able to use the card for paying for items bought off the ecommerce website. The similarities of paypal and...
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...shopping has become available that may change how they shop. Consumers should know the benefits of online shopping and brick-and –mortar shopping. If they take the time to know the differences and similarities it may save them some hassle of figuring out which way to shop. There are many differences and similarities between online and brick-and-mortar shopping, but the variety of choices, convenience, and price ultimately make up the consumers mind. The convenience of shopping has to fit the consumer’s lifestyle. Online shopping may be more convenient for some people that have a very busy lifestyle. Online stores are always open so shopping can be done any time. To shop online it is as easy as sitting down on the couch and opening the computer or to use a cell phone to make purchases. If the crowds of the traditional stores are too much to handle, it may be more of a convenience to make purchases online. It may seem like online shopping is easy and convenient but it comes with the price of security issues. When a credit card is used to make the payment it comes with the risk of identity or credit card information getting stolen. In the traditional brick-and-mortar shop there is less of a chance of security issues. The purchases can be paid with cash or credit card. In the store the credit card is only seen by the consumer. The traditional brick-and-mortar shopping may be more convenient if people like to touch, feel, or smell the products. In the traditional store people...
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...3.2.1. Overdrafts/Credit Cards etc. Conventional banks offer the facility of overdrawing from account of the customer on interest. One of its form is use of credit card whereby limit of overdrawing for customer is set by the bank. Credit card provides dual facility to customer including financing as well as facility of plastic money whereby customer can meet his requirement without carrying cash. As for facility of financing is concerned that is not offered by Islamic banks except in the form of Murabaha (which means IFI shall deliver the desired commodity and not the cash) however facility to shop/meet requirement is provided through debit card whereby a customer can use his card if his account carries credit balance. Under conventional banking a customer is charged with interest once the facility availed however under Murabaha only profit is due when the commodity is delivered to the customer. Furthermore in case of default customer is charged with further interest for the extra period under conventional system however extra charging is not allowed under Murabaha. (Vol. 2 No. 2; February 2011, pg 170, Differences and Similarities in Islamic and Conventional Banking Muhammad Hanif) Credit cards can offer certain advantages to the holder. Firstly, they provide easy means of obtaining credit for an interest free credit period from a week to a mouth. Secondly, credit card can easily be used to withdraw cash over the counter or from an Automated machine (ATM).Furthermore...
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...typical situations, they can buy with debit or credit cards, checks, or cash (Stephanie, 2007). However, other modes of payment include gift cards, gift certificates, stored value cards, gaming house chips, coupons at fairs, traveller’s checks, bank drafts, or money orders (Roth, 2014). It is imperative to note that in spite of the diversity in payment modes, the mode of payment is, in most cases, an appropriate constituent in business transactions (Raghubir & Srivastava, 2008). Thus, it is imperative to study the how certain modes of payment influence consumer behavior and spending decisions. The purpose of this article is to examine consumer spending as a function of payment mode (Chatterjee & Rose, 2011). It postulates that the situation is veritable if there is an association between the actual parting of the money and purchase decision and there are form differences between modes and the physical form of the acquisition of the purchased product (Incekara-Hafalira & Loewenstein, 2012). Thus, it will examine the willingness of consumers to spend more on products that have a credit logo than those that do not have it. It also scrutinizes the effect of attenuating credit card information to estimate the effect of a holistic versus a decomposition strategy. Similarly, it examines how consumers spend their money in cash versus scrip expenditures. Finally, it depicts the effect of attenuating payment modes to give a clear picture between git certificates and cash spending...
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...Differences between Banks’ Current and Credit Accounts Student’s Name School Affiliation Differences between Banks’ current And Credit Accounts Through the use of technology, there has been a revolution on how money is used on a day to day basis. Banks have capitalized on this developing trend by offering various products and services that cater to individual needs and wants (Herman, 2005). In addition to this, they have developed enticing incentive offers that are meant to attract and retain potential customers. Doha Bank and Ahlibank are two such banks. CURRENT ACCOUNT SIMILARITIES After opening a current account at Ahlibank or Doha bank, the client is issued with a free debit card that facilitates easy access to available funds in the bank. Furthermore, the current account can be used to effect financial transactions on mobile phones and computers that have an access to the internet. Hence, the account holder is not limited to visiting the bank or the ATM (automated teller machine) in order to transact. Both banks offer free personalized checkbooks that have more than the usual account number and check number. Personalization means that the client can request the bank to add additional information to the checkbook. Different clients have different needs and want. In order to keep up with today's technological survey population both banks have introduced various forms of electronic means to communication. Emails...
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...using credit cards online. 3. Discuss the different categories and potential uses of smart cards. 4. Discuss various online alternatives to credit card payments and identify under what circumstances they are best used. 5. Describe the processes and parties involved in e-checking. 6. Describe payment methods in B2B EC, including payments for global trade. Content Opening Case: Pay-per-View Pages: The Next iTunes 11.1 The Payment Revolution 11.2 Using Payment Cards Online 11.3 Smart Cards 11.4 Stored-Value Cards 11.5 E-Micropayments 11.6 E-Checking 11.7 B2B Electronic Payments Managerial Issues Closing Case: The Check Is in the Network Answers to Pause/Break Section Review Questions Section 11.1 Review Questions 1. Describe the trends that are occurring in cash and non-cash payments in the United States. Today, we are in the midst of a payment revolution, with cards and electronic payments taking the place of cash and checks. In 2003, the combined use of credit and debit cards for in-store payments for the first time exceeded the combined use of cash and checks (Federal Reserve System 2004). 2. What types of e-payments should B2C merchants support? For online B2C merchants, the implications of these trends are straightforward. In the United States and Western Europe it is hard to run an online business without supporting credit card payments, despite the costs. It also is becoming increasingly important to support payments by debit card...
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...ljkAcct 420 – Fall 2012 Microsoft Dynamics GP Exercises This handout, divided into six (6) sections, is designed to apply course concepts using a system with either sample data or actual company data. While there will be some class time to complete the exercises, time outside of class will also be required. The six (6) sections are: A. Application Controls – Input Validation Checks B. Security, Access, and Monitoring C. FABRIKAM COMPANY: Customers, sales, cash collection D. JEWELRY IMPORTERS – Customer search/information and trial balance accounts E. FABRIKAM EXERCISES: GP and data modeling F. Updating the System A. Application Controls – Input Validation Checks I. For each numbered control, enter the letter of the item that best describes that control. | CONTROL | Letter | | | DESCRIPTION | 1 | Automatic computation | K | | A | Enter an ID number in a field and the ID’s description is brought forth (i.e., customer ID number pulls customer name to customer name field in sales invoice window) | 2 | Capacity test | H | | B | Ensures that all critical fields in an input screen have a value. | 3 | Closed loop verification | A | | C | Tests for whether appropriate type of data are entered in a field, i.e., numbers (numeric test) or letters (alpha test) | 4 | Completeness test | B | | D | Exams field to determine appropriate sign, positive or negative. | 5 | Default values | J | | E | Checks that field is valid in relation...
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...Midwest and Southeast. The company operates five main businesses that include commercial banking, branch banking, consumer lending, investment advisors, and Fifth Third processing solutions. According to Yahoo! Finance it operates 16 affiliates with over 1,291 full-service locations and 20,998 full-time employees. Fifth Third Bancorp was first established in the mid 19th century during the formulation of America’s national Banking system. The origins of Fifth Third Bank can be traced back to the Bank of the Ohio Valley in 1858. It was later purchased by Third National Bank in 1871. With the turn of the century came the union of Third National Bank and Fifth National Bank creating Fifth Third National Bank of Cincinnati on June 1, 1908. Between the 1950s and 1970s Fifth Third Bank began to experiment more with personal and commercial banking. As the bank expanded its services it began to use advertisements that featured the company’s 5/3 shield logo and in 1973 it adopted the slogan, “The only bank you’ll ever need”. Fifth Third booted its first computer in 1960, initiated home banking services, and the ATM in the 1970s. These electronic services formed the basis of what would later become Fifth Third payment services department. The bank holding company Fifth Third Bancorp was created in 1975. The bank holding company enabled the company to avoid some of the most rigorous banking regulations because it was not technically a bank and therefore it was exempt from laws the prohibited...
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...refer to how often the inventory account balances are updated. In a Periodic system, inventory account balances are updated once a year (some companies may do it more often, but all must do so at least once per year). In a Perpetual system, inventory account balances are updated after each sale. This type of system is much more complex. Scanning cash registers, bar coded merchandise, and similar devices are used to update the inventory records after each sale. Obviously, this type of system is very expensive, but it gives managers a high degree of control over inventory, helps purchasing agents order replacement merchandise in time, detects and deters theft and helps identify other problems relating to inventory. The main differences between the two relate to the journal entries used to record purchases and sales. The system a company chooses should be cost...
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...FRANK WOOD’S business accounting TENTH EDITION 1 FRANK WOOD & ALAN SANGSTER Additional student support at www.pearsoned.co.uk/wood FRANK WOOD’S business accounting 1 Visit the Business Accounting, tenth edition Companion Website at www.pearsoned.co.uk/wood to find valuable student learning material including: l l l l l l Learning objectives for each chapter Multiple choice questions to help test your learning Review questions and answers Links to relevant sites on the web Searchable online glossary Flashcards to test your knowledge of key terms and definitions Frank Wood 1926–2000 FRANK WOOD’S business accounting TENTH EDITION 1 FRANK WOOD BSc (Econ), FCA and ALAN SANGSTER BA, MSc, Cert TESOL, CA Pearson Education Limited Edinburgh Gate Harlow Essex CM20 2JE and Associated Companies throughout the world. Visit us on the World Wide Web at www.pearsoned.co.uk First edition published in 1967 Second edition published under the Longman imprint in 1972 Third edition published in 1979 Fourth edition published in 1984 Fifth edition published in 1989 Sixth edition published in 1993 Seventh edition published in 1996 Eighth edition published under the Financial Times Pitman Publishing imprint in 1999 Ninth edition published in 2002 Tenth edition published 2005 © Frank Wood 1967 © Longman Group UK Limited 1972, 1979, 1984, 1989, 1993 © Pearson Professional Limited 1996 © Financial Times Professional Limited 1999 © Pearson Education Limited...
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...COMMERCIAL BANK OF ETHIOPIA CUSTOMER ACCOUNTS AND TRANSACTION SERVICE TECHNICAL TRAINING MANUAL May 2014 Commercial Bank of Ethiopia Contents PART I ............................................................................................................................................................ 1 Chapter one .................................................................................................................................................. 1 Introduction .................................................................................................................................................. 1 1.1 Overview ............................................................................................................................................. 1 1.2 History of Banking in Ethiopia ............................................................................................................. 2 1.3 CBE’s Profile ........................................................................................................................................ 4 V I S I O N................................................................................................................................................... 4 MISSION .................................................................................................................................................... 4 List and discuss CBE’s corporate values ..............................................
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...AN INTERNSHIP REPORT ON Analyzing the Problem of General Banking System of United Commercial Bank Limited Prepared By Sirajum Munira ID NO: 10254030 Department of Finance & Banking University of Rajshahi Supervised By Md. Monimul Haque Assistant Professor Department of Finance & Banking University of Rajshahi July 2012 Analyzing the Problem of General Banking System of United Commercial Bank Limited Prepared By Sirajum Munira ID NO: 10254030 Department of Finance & Banking University of Rajshahi An internship report submitted in partial fulfillment of the requirement for the degree of Master of Business Administration (MBA) Supervised By Md. Monimul Haque Assistant Professor Department of Finance & Banking University of Rajshahi July 2012 July-30, 2012 The Supervisor Department of Finance and Banking University of Rajshahi Subject: Submission of Internship Report Dear Sir, I am delighted to present my Internship Report on “Analyzing the Problem of General Banking System of United Commercial Bank Limited”, which is prepared in a partial fulfillment of the requirement for the degree of MBA. Preparing such kind of report is a great opportunity for me while having overall knowledge on General Banking practice. I believe that the practical learning will boost our intellects in our coming career life. I have...
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...Chapter-01 Introduction 1.1 Background of the study The term “Islamic banking” refers to a system of banking or banking activity that is consistent with Islamic law (Sharia) principles and guided by Islamic economics. In particular, Islamic law prohibits usury, the collection and payment of interest, also commonly called rib in Islamic discourse. In addition, Islamic law prohibits investing in businesses that are considered unlawful, or haram (such as businesses that sell alcohol or pork, or businesses that produce media such as gossip columns or pornography, which are contrary to Islamic values). Islamic banking has the same purpose as conventional banking to make money for the banking institute by lending out capital. But that is not the sole purpose either. The basic principle of Islamic banking is based on risk-sharing which is a component of trade rather than risk-transfer which is seen in conventional banking. Islamic banking introduces concepts such as profit sharing, safekeeping, joint venture, cost plus and leasing. There are three types of schedule commercial banks are in operation in our economy. They are Nationalized Commercial Banks, Local Private Commercial Banks and Foreign Private Commercial Banks. AIBL has discovered a new horizon in the field of banking area, which offers different General Banking, Investments and Foreign Exchange banking system. The authorized capital of the Bank is Tk.10000.00 million and the paid up capital is Tk. 7130.98 million...
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...Chapter-01 Introduction 1.1 Background of the study The term “Islamic banking” refers to a system of banking or banking activity that is consistent with Islamic law (Sharia) principles and guided by Islamic economics. In particular, Islamic law prohibits usury, the collection and payment of interest, also commonly called rib in Islamic discourse. In addition, Islamic law prohibits investing in businesses that are considered unlawful, or haram (such as businesses that sell alcohol or pork, or businesses that produce media such as gossip columns or pornography, which are contrary to Islamic values). Islamic banking has the same purpose as conventional banking to make money for the banking institute by lending out capital. But that is not the sole purpose either. The basic principle of Islamic banking is based on risk-sharing which is a component of trade rather than risk-transfer which is seen in conventional banking. Islamic banking introduces concepts such as profit sharing, safekeeping, joint venture, cost plus and leasing. There are three types of schedule commercial banks are in operation in our economy. They are Nationalized Commercial Banks, Local Private Commercial Banks and Foreign Private Commercial Banks. AIBL has discovered a new horizon in the field of banking area, which offers different General Banking, Investments and Foreign Exchange banking system. The authorized capital of the Bank is Tk.10000.00 million and the paid up capital is Tk. 7130.98 million...
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...principles of Finance. According to L J Gitman, “Finance is the art and science of managing money.” Finance is concerned with the process, institutions, markets and instruments involved in the transfer of money among and between individuals, business and governments. Finance deals with-Financing, investment and dividend. Principles of Finance * Principles of risk and return: It says, “No risk, No gain” * Principles of time value of money: while making any investment decision, time value of money should be considered. * Principles of Liquidity and Profitability: Need balance of liquid money. * Principles of Perfection: Current assets, fixed assets should be collected with careful consideration. * Principles of Business Cycle: Business depends on various economic conditions (Boom-Recession-Depression-Recovery-Boom.) * Principles of Diversification: Do not put all eggs in one basket. 2. The ultimate goal of a business is to maximize wealth, not profit maximization-Explain. Shareholder’s Wealth Maximization means maximizing the price of the firm’s common stock. It means to increase the net present value of a firm. Shareholders' wealth is maximized when a decision generates net present value. The net present value is the difference between present value of the benefits of a project and present value of its costs. A decision that has a positive net present value creates wealth for shareholders and a decision that has a negative net present value destroys wealth...
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