Bank Cards/Cheque Cards

Cheque or Bank Card.

• A bank card is issued to account holders by a bank.
• It has the following information on it:
• The name and signature of the cardholder.
• The name of the bank which issued the card and its logo.
• The expiry date of the card.
• The terms and conditions of use.
• The card number.
• The limit amount.
• It enables the cardholder to draw cash from the customer’s bank.
• Guarantees limited cash withdrawals at other banks.
• Allows a customer to access a cash overdraft facility
• Guarantees payment of cheques drawn by the customer.
• Enables a customer to request a statement of account.
• Uses a PIN for security reasons.
• Can be used to transfer funds from one account to another or make payments.
• Can be used at Point of Sales to make payments in supermarkets.

To access more topics go to the Commerce Notes page.