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Bankbook
A passbook or bankbook is a paper book used to record bank or building society transactions on a deposit account. Traditionally, a passbook was used for accounts with a low transaction volume, such as savings accounts. A bank teller or postmaster would write the date, amount of the transaction and the updated balance and enter his or her initials by hand. In the late 20th century, small dot matrix or inkjet printers were introduced that were capable of updating the passbook at the account holder's convenience, either at an automated teller machine or a passbook printer, either in a self-serve mode, by post, or in a branch. History Passbooks appeared in the 18th century, allowing customers to hold transaction information in their own hands for the first time. Until then, transactions were recorded in ledgers at the bank only, so customers had no history of their own deposits and withdrawals. The passbook, which was around the size of a passport, ensured that customers had c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Savings Account
A savings account is a bank account at a retail bank. Common features include a limited number of withdrawals, a lack of cheque and linked debit card facilities, limited transfer options and the inability to be overdrawn. Traditionally, transactions on savings accounts were widely recorded in a passbook, and were sometimes called passbook savings accounts, and bank statements were not provided; however, currently such transactions are commonly recorded electronically and accessible online. People deposit funds in savings account for a variety of reasons, including a safe place to hold their cash. Savings accounts normally pay interest as well: almost all of them accrue compound interest over time. Several countries require savings accounts to be protected by deposit insurance and some countries provide a government guarantee for at least a portion of the account balance. There are many types of savings accounts, often serving particular purposes. These can include accounts fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Telephone Banking
Telephone banking is a service provided by a bank or other financial institution, that enables customers to perform over the telephone a range of financial transactions which do not involve cash or Financial instruments (such as cheques), without the need to visit a bank branch or ATM. History Telephone banking became commercially available in the 1980s, first introduced by Girobank in the United Kingdom, which established a dedicated telephone banking service in 1984. Telephone banking saw growth during the 1980s and early 1990s, and was heavily used by the first generation of direct banks. However, the development online banking in the early 2000s started a long term decline in the use of telephone banking in favor of internet banking. The advent of mobile banking further eroded the use of telephone banking in the 2010s. Operation To use a financial institution's telephone banking facility, a customer must first register with the institution for the service. They would ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Accounting Source Documents
Accounting, also known as accountancy, is the measurement, processing, and communication of financial and non financial information about economic entities such as businesses and corporations. Accounting, which has been called the "language of business", measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and regulators. Practitioners of accounting are known as accountants. The terms "accounting" and "financial reporting" are often used as synonyms. Accounting can be divided into several fields including financial accounting, management accounting, tax accounting and cost accounting. Financial accounting focuses on the reporting of an organization's financial information, including the preparation of financial statements, to the external users of the information, such as investors, regulators and suppliers; and management accounting focuses on the measurement, ana ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking Terms
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the anc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sberkassa
Sberkassa Syllabic abbreviation: russian: сберегательная касса, sberegatelnaya kassa, lit=savings office, links=no ( rus, сберкасса, p=zbʲɪrˈkasːə, a=Ru-сберкасса.ogg) in the Soviet Union and modern Russia is a financial institution to store the savings of the population. The term is traditionally translated as ''savings bank'', however ''sberkassas'' in the Soviet Union were not banks in the usual sense. A personal document for keeping track of person's savings is a kind of a bankbook (russian: сберкнижка, сберегательная книжка, "savings booklet", usually translated as savings book or savings-bank book). The track of deposits, withdrawals and accrued interest is written into the bankbook by a ''sberkassa'' clerk. Imperial Russia Credit and savings institutions (ссудная и сохранная казна) existed in Imperial Russia since the beginning of the 19th century. The first "saving banks" (''s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deposit Account
A deposit account is a bank account maintained by a financial institution in which a customer can deposit and withdraw money. Deposit accounts can be savings accounts, current accounts or any of several other types of accounts explained below. Transactions on deposit accounts are recorded in a bank's books, and the resulting balance is recorded as a liability of the bank and represents an amount owed by the bank to the customer. In other words, the banker-customer (depositor) relationship is one of debtor-creditor. Some banks charge fees for transactions on a customer's account. Additionally, some banks pay customers interest on their account balances. Types of accounts * How banking works In banking, the verbs "deposit" and "withdraw" mean a customer paying money into, and taking money out of, an account, respectively. From a legal and financial accounting standpoint, the noun "deposit" is used by the banking industry in financial statements to describe the liability owed b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cheque
A cheque, or check (American English; see spelling differences) is a document that orders a bank (or credit union) to pay a specific amount of money from a person's account to the person in whose name the cheque has been issued. The person writing the cheque, known as the ''drawer'', has a transaction banking account (often called a current, cheque, chequing, checking, or share draft account) where the money is held. The drawer writes various details including the monetary amount, date, and a payee on the cheque, and signs it, ordering their bank, known as the ''drawee'', to pay the amount of money stated to the payee. Although forms of cheques have been in use since ancient times and at least since the 9th century, they became a highly popular non-cash method for making payments during the 20th century and usage of cheques peaked. By the second half of the 20th century, as cheque processing became automated, billions of cheques were issued annually; these volumes peaked ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Statement
A bank statement is an official summary of financial transactions occurring within a given period for each bank account held by a person or business with a financial institution. Such statements are prepared by the financial institution, are numbered and indicate the period covered by the statement, and may contain other relevant information for the account type, such as how much is payable by a certain date. The start date of the statement period is usually the day after the end of the previous statement period. Once produced and delivered to the customer, details on the statement are not normally alterable; any error found would normally be corrected on a future statement, usually with some correspondence explaining the reason for the adjustment. Bank statements are commonly used by the customer to monitor cash flow, check for possible fraudulent transactions, and perform bank reconciliations. Historically they have been printed on one or more pieces of paper, and either mail ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Saffron Building Society
The Saffron Building Society is a regional building society which has branches and agencies in the East of England. These span: Essex, Hertfordshire and Suffolk. It is a member of the Building Societies Association. History Saffron Building Society was established in 1849. It is a UK building society based in Saffron Walden, Essex. It began life as the Saffron Walden Second Building Society and was founded by the Revd John Marten, who became the first Secretary. The first Chairman of the Saffron Building Society was a local builder called Joseph Durrant. Originally established as a 'terminating society' Saffron Walden Second Building Society became a permanent building society in 1857 and changed their name to The Saffron Walden Second Benefit Building and Investment Society on the Permanent Plan. In the same year the Society lent £1,730. In 1873 Henry Hart a printer, was chairman and directors' salaries now stood at £1. * 1866 - 1905 Fitzroy Ackland, a local solicitor was ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Statement
A bank statement is an official summary of financial transactions occurring within a given period for each bank account held by a person or business with a financial institution. Such statements are prepared by the financial institution, are numbered and indicate the period covered by the statement, and may contain other relevant information for the account type, such as how much is payable by a certain date. The start date of the statement period is usually the day after the end of the previous statement period. Once produced and delivered to the customer, details on the statement are not normally alterable; any error found would normally be corrected on a future statement, usually with some correspondence explaining the reason for the adjustment. Bank statements are commonly used by the customer to monitor cash flow, check for possible fraudulent transactions, and perform bank reconciliations. Historically they have been printed on one or more pieces of paper, and either mail ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Online Banking
Online banking, also known as internet banking, web banking or home banking, is an electronic payment system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website. The online banking system will typically connect to or be part of the core banking system operated by a bank to provide customers access to banking services in addition to or in place of traditional branch banking. Online banking significantly reduces the banks' operating cost by reducing reliance on a branch network and offers greater convenience to some customers by lessening the need to visit a branch bank as well as the convenience of being able to perform banking transactions even when branches are closed. Internet banking provides personal and corporate banking services offering features such as viewing account balances, obtaining statements, checking recent transactions, transferring money between accounts, and mak ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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