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    2 Banking Services

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    Mark Matyas
    Commercial banks provide a wide range of core banking services including traditional branches, electronic transfers, and non-financial services. Traditional branches involve deposits, lending through business/consumer loans and mortgages, and account services. Electronic banking includes ATMs for cash withdrawals, automated clearing houses for debit/credit transfers, and POS terminals for card payments. Non-banking services encompass trustee/executor services, investment services, insurance, and economic information. Internet banking allows 24/7 access from any internet connection for account statements, transfers between accounts, opening savings/currency/securities accounts, and provides efficient cash flow management for individuals and small businesses.

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    © All Rights Reserved
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    2 Banking Services

    Uploaded by

    Mark Matyas
    30 views2 pages
    Commercial banks provide a wide range of core banking services including traditional branches, electronic transfers, and non-financial services. Traditional branches involve deposits, lending through business/consumer loans and mortgages, and account services. Electronic banking includes ATMs for cash withdrawals, automated clearing houses for debit/credit transfers, and POS terminals for card payments. Non-banking services encompass trustee/executor services, investment services, insurance, and economic information. Internet banking allows 24/7 access from any internet connection for account statements, transfers between accounts, opening savings/currency/securities accounts, and provides efficient cash flow management for individuals and small businesses.

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    2 Banking Services

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    Commercial banks provide a wide range of core banking services including traditional branches, electronic transfers, and non-financial services. Traditional branches involve deposits, lending through business/consumer loans and mortgages, and account services. Electronic banking includes ATMs for cash withdrawals, automated clearing houses for debit/credit transfers, and POS terminals for card payments. Non-banking services encompass trustee/executor services, investment services, insurance, and economic information. Internet banking allows 24/7 access from any internet connection for account statements, transfers between accounts, opening savings/currency/securities accounts, and provides efficient cash flow management for individuals and small businesses.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    30 views2 pages

    2 Banking Services

    Uploaded by

    Mark Matyas
    Commercial banks provide a wide range of core banking services including traditional branches, electronic transfers, and non-financial services. Traditional branches involve deposits, lending through business/consumer loans and mortgages, and account services. Electronic banking includes ATMs for cash withdrawals, automated clearing houses for debit/credit transfers, and POS terminals for card payments. Non-banking services encompass trustee/executor services, investment services, insurance, and economic information. Internet banking allows 24/7 access from any internet connection for account statements, transfers between accounts, opening savings/currency/securities accounts, and provides efficient cash flow management for individuals and small businesses.

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    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    of 2

    Témakör 6 1

    Téma 3

    Banking services
    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.

    1. Traditional branches of banking include the following services:


     Deposits: can be collected from private depositors or from public depositors.
     Lending: conditions: the three C's of credit (character + capacity + capital):business
    loans, consumer's loans: repayment terms and interest rates are usually arranged by
    the borrower, mortgages: contracts by which the owner of property (the mortgagor)
    borrows money, giving the lender (the mortgagee) an interest in the property as
    security for the loan, there are 2 basic types of mortgage (against real estate /on
    personal property)
     bankers' services: current-account services, deposit-account services savings-account
    services

    2. The newest service provided by financial institutions is electronic banking:


     ATM: Automated Teller Machines: they tan dispense cash from the client's 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 bank's
    computer terminal. If a consumer buys something and pays by card it automatically
    transfers the required amount of any purchase to the store's account

    3. Banking businesses include a lot of non-banking services:


     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.
     Investment services: safe custody of demand deposits
     Insurance services
     Economic information

    Internet Banking

    Internet-based branches provide comfortable and rapid settlement of transactions. It is open


    for 24 hours a day and it is easy to reach with an internet connection.

    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
    Témakör 6 2
    Téma 3

     Retail customers can open savings accounts and handle deposit accounts.

    To whom it is recommended:
     To retail customers with a current account
     To companies with small turnover
     To one-man businesses

    Advantages:
     You can settle the transfers more easily with computer programs.
     There is no need to fill in transfer order forms.
     It is a safe system therefore there is no need for confirmation.
     It provides more efficient cash-flow management.

    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 bankfiók
    statement of account számlakivonat
    transfer order átutalási megbízás
    group transfer order csoportos átutalási megbízás
    currency account devizaszámla
    tying- up lekötés
    securities deposit account értékpapírszámla
    one-man business egyszemélyes vállalkozás
    turnover forgalom
    cash-flow management likviditás (pénzforgalom) menedzselés

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