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Types of Banks
Global banks - full range of services - international capability Commercial banks - wide range of services - limited international capability Investment banks - arranging, originating and distributing debt and equity issues and advice Savings banks - taking deposits and making loans
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Types of Accounts
Current account Deposit/savings account Composite account Money market deposit Overdraft Loan accounts Resident and Non-resident accounts
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So maybe Restrictions as to type of accounts or services available (China) Different fee structures (France) Movement of funds overseas or between R/NR maybe subject to Central Bank reporting (Germany) Prior approval may be needed for movements
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Lockbox Intervention accounts Remote disbursement Controlled disbursement Direct collections - Negotiation - Collection
Bank Accounts
So why are they important? paying and receiving funds safe keeping earning interest Considerations? cost how many location who with
Debits
Credits
700
1,500 500 100 250 400 45 200
Number of days 7 1 3 2 7 10
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Interest calculations 2
No credit interest
Debit interest at 6%
Work out the debit decimals 1 day @ 600 3 days @ 1,100 2 days @ 1,000 7 days @ 1,205 10 days @ 1,605 Total Interest charge = = 600 = 3,300 = 2,000 = 8,435 = 16,050 30,385 OR 600 x .06 x 1/365 = .10 1,100 x .06 x 3/365 = .54 1,000 x .06 x 2/365 = .33 1,205 x .06 x 7/365 = 1.39 1,605 x .06 x 10/365 = 2.64 4.99 30,385 x .06 = 4.99 365
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Bank Charges
Bankers are human and need to live but. - The Cash manager needs to control bank charges Factors affecting fees - Balances maintained - Turnover - Volume - Additional services
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METHODS OF PAYMENTS
Payment Methods in Regular Use
METHODS OF PAYMENTS Payment Methods in Regular Use Same day ACH35% Cheques issued by bank31% SEPA direct debit 20% Online payment services providers 17% Bankers drafts 15% Other local or niche products 15% Mobile payments 7%
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Table 11: Payment Methods Currently Used by Region (percent of organisations using such methods)
North America Western Europe ACH credits 89% 70% ACH debits 67% 49% Bank wire transfers 97% 88% Same day ACH 23% 55% Cheques issued directly by you 81% 34% Cheques issued by bank 24% 29% Bankers drafts 16% 10% Mobile payments 8% 4%
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Table 11: Payment Methods Currently Used by Region (percent of organisations using such methods)
North America Western Europe
Online payment services providers
16% 12% Purchasing cards 67% 27% Travel and entertainment cards 63% 40% Single euro payments area credit transfers 28% 75% SEPA direct debit 19% 27% Other local or niche products 11% 25% Wire transfers are a preferred option for almost every company regardless of size
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