ZIMSEc O Level Commerce Notes: Bank/ 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.
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