January 2023

Discount Houses and Merchant Banks

By |2022-09-15T12:43:46+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

Tetrad Bank. Image credit zimobinews.com Tetrad Bank. Image credit zimobinews.com ZIMSEC O Level Commerce Notes: Money and Banking: Discount Houses and Merchant Banks

Discount Houses

  • A discount house is a financial institution that participates in the buying and discounting of bills of exchange and other financial products such as money markets, certain government […]
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Commercial Banks

By |2022-09-15T12:43:44+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

ZIMSEC O Level Commerce Notes: Money and Banking: Commercial Banks

Commercial Banks

  • Is a bank that offers services to the general public and to companies.
  • For example Barclays, Standard Chartered, Stanbic and BancABC.

Services offered

  • They accept deposits in the form of current, savings and fixed deposits accounts.
  • They receive or make payments through cheques, direct debit and credit transfers.
  • They […]
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