Credit Cards

Bank Credit Cards

• They all a customer or cardholder to buy on credit up to a limited amount on card.
• Are used to draw cash from the customer’s bank account.
• Guarantees limited cash withdrawals at other banks.
• Allow the customer to obtain loans from any bank operating the scheme.
• The customer does not need to carry cash around.
• Used for encashment of cheques at any of the bank’s branches or correspondent banks.
• Used in both foreign and home trade.
• Allows customers to pay several bills using one cheque once a month thus saving on bank charges.
• Guarantees payment of cheques drawn by the customer.
• Enables a request of statement on account.
• Uses a PIN (Personal Identification Number) for security.
• Can be used to transfer funds from one account to another.
• Allows the provision of an overdraft facility.
• The credit card shows the following information:
• The name and signature of the card holder.
• The name of the issuing bank.
• The expiry date of the Card.
• The terms and conditions of use.
• The card/account number.
• The CVV number

To access more topics go to the Commerce Notes page.