BANKING

JAPAN RETAIL BANKING

RETAIL BANKING
is a banking service that is geared primarily toward individual consumers. Retail banking is usually made available by commercial banks, as well as smaller community banks. Unlike wholesale banking, retail banking focuses strictly on consumer markets. Retail banking entities provide a wide range of personal banking services, including offering savings and checking accounts, bill paying services, as well as debit and credit cards. Through retail banking, consumers may also obtain mortgages and personal loans. Although retail banking is, for the most part, mass-market driven, many retail banking products may also extend to small and medium sized businesses. Today much of retail banking is streamlined electronically via Automated Teller Machines (ATMs), or through virtual retail banking known as online banking.

Definition of 'Retail Banking' Typical mass-market banking in which individual customers use local branches of larger commercial banks. Services offered include savings and checking accounts, mortgages, personal loans, debit/credit cards and certificates of deposit (CDs).

Investopedia explains 'Retail Banking' Retail banking aims to be the one-stop shop for as many financial services as possible on behalf of retail clients. Some retail banks have even made a push into investment services such as wealth management, brokerage accounts, private banking and retirement planning. While some of these ancillary services are outsourced to third parties (often for regulatory reasons), they often intertwine with core retail banking accounts like checking and savings to allow for easier transfers and maintenance

Related Definitions Investment Bank - IB A financial intermediary that performs a variety of services. This includes underwriting, acting as an intermediary between an issuer of securities and the investing public, facilitating Merchant Bank A bank that deals mostly in (but is not limited to) international finance, long-term loans for companies and underwriting. Merchant banks do not provide regular banking services to the Private Banking Personalized financial and banking services that are traditionally offered to a bank's rich, high net worth individuals (HNWIs). For wealth management purposes, HNWIs have accrued far

Product &Services Profit-sharing with Dubai Islamic Bank means that savings investments are put to work on your behalf, thus consistently delivering better performance than conventional savings accounts that are limited by interest rates. Similarly, Dubai Islamic Bank s Sharia ah-compliant current accounts give customers the most cost-effective banking available, with many features provided free in comparison to the charges usually levied by conventional banks. With the most extensive network of branches and ATMs in the UAE, ably backed by an unwavering commitment to friendly and professional attention, it is not surprising that DIB s products and services are the first choice with thousands of customers. Now with a range of debit and credit cards to choose from, plus a comprehensive array of electronic and telephone banking facilities, DIB delivers world-class products and services to cover the full spectrum of your personal banking needs.

MOBIL BAKING In today world Mobile Banking is a popular term. Mobile Banking means a financial transaction conducted by logging on to a bank s website using a cell phone, such as viewing account balances, making transfers between accounts, or paying bills. It is a term used for performing balance checks, account transactions, payments etc. via a mobile device such as a mobile phone. In recent time Mobile banking is most often performed via SMS or the Mobile Internet but can also use special programs called clients downloaded to the mobile device Mobile Banking concept In general term we can categorized the mobile banking below * Mobile Accounting * Mobile Brokerage * Mobile Financial Information Services

Most services in the categories designated Accounting and Brokerage are transactionbased. The non-transaction-based services of an informational nature are however essential for conducting transactions for instance, balance inquiries might be needed before committing a money remittance. Mobile Banking Services Mobile banking can offer services such as the following: * Mini-statements and checking of account history * Alerts on account activity or passing of set thresholds * Monitoring of term deposits * Access to loan statements * Access to card statements * Mutual funds / equity statements * Insurance policy management * Pension plan management * Status on cheque, stop payment on cheque * Ordering check books * Balance checking in the account * Recent transactions * Due date of payment (functionality for stop, change and deleting of payments) * PIN provision, Change of PIN and reminder over the Internet * Blocking of (lost, stolen) cards * Domestic and international fund transfers

* Micro-payment handling * Mobile recharging * Commercial payment processing * Bill payment processing * Peer to Peer payments * Withdrawal at banking agent * Deposit at banking agent

DEBIT CARD
A debit card (also known as a bank card or check card) is a plastic card which provides an alternative payment method to cash when making purchases. Functionally, it can be called an electronic check, as the funds are withdrawn directly from either the bank account (often referred to as a check card), or from the remaining balance on the card. In some cases, the cards are designed exclusively for use on the Internet, and so there is no physical card. The use of debit cards has become widespread in many countries and has overtaken the cheque, and in some instances cash transactions by volume. Like credit cards, debit cards are used widely for telephone and Internet purchases. Debit cards can also allow for instant withdrawal of cash, acting as the ATM card for withdrawing cash and as a cheque guarantee card. Merchants can also offer "cashback"/"cashout" facilities to customers, where a customer can withdraw cash along with their purchase.

Any card that may be used repeatedly to borrow money or buy products and services on credit. Issued by banks, savings and loans, retail stores, and other businesses. A plastic card having a magnetic strip, issued by a bank or business authorizing the holder to buy goods or services on credit. Also called charge card Small card that authorizes the person named on it to charge goods or services to his or her account. It differs from a debit card, with which money is automatically deducted from the bank account of the cardholder to pay for the goods or services. Credit-card use originated in the U.S. in the 1920s; early credit cards were issued by various firms (e.g., oil companies and hotel chains) for use at their outlets only. The first universal credit card, accepted by a variety of establishments, was issued by Diners' Club in 1950. Charge cards such as American Express require cardholders to pay for all purchases at the end of the billing period (usually monthly). Bank cards such as MasterCard and Visa allow customers to pay only a portion of their bill; interest accrues on the unpaid balance. Credit-card companies get revenue from annual fees and interest paid by cardholders and from fees paid by participating merchants.

Different Types of Credit Cards Different types of credit cards offer several different options, depending on what your needs are. Some are geared toward individual consumers, while others are set up in ways that work best for small business needs. To know what type of credit card fits your needs, let's review a few of your options. Business Credit Cards A business credit card offers the business owner the opportunity to keep business and personal expenses separate. The credit card may offer special business rewards and saving opportunities that go above and beyond what the individual credit card owner may have. Since money management is essential in successfully running a business, the card may offer an expense management service that will allow you to keep track of the outgoing money. You can obtain additional credit cards for employees who may need them for travel expenses and such as well as have a higher credit limit than you normally would on an individual credit card. Student Credit Cards Many credit card companies will issue student credit cards that have lower credit limits and fewer incentives to help keep their spending in check. Still, take note. Many college students graduate with a credit balance that averages between $3,000 and $7,000 and with interest rates, this can be a real problem when trying to pay them off.

Prepaid Debit Cards Prepaid debit cards are one type of credit card that has grown significantly in recent years. Although they work like a traditional credit card when making a purchase, that is where the similarities end. With prepaid debit cards, you have actually prepaid and set the credit limit by depositing money onto the debit card. Depending on how much you have deposited into the debit card's account depends on how much credit limit you want on that card. This is a great way to have the convenience of a credit card without the chance of charging more than you can afford to pay off. Credit Cards For Bad Credit It is possible, even with bad credit to obtain a credit card. These cards will come with some restrictions not typically found on other types of credit cards. Your credit limit will be lower and your interest rate higher. Some may require you to have a secured credit card, meaning you have to maintain a savings or some other type of account that will cover the expenses on the credit card. Once you have established that you will be responsible, some, if not all, of your restrictions may be lifted Cash Back Credit Cards Many credit cards will now offer you cash back incentives for using their credit cards. Depending on how much your balance is and how often you use the credit card, you can earn cash back for your purchases. Some companies offer 1% off your balance while others, like Sears, will offer you cash off purchases made in their store. Either way, if you are planning on using a credit card, finding one that will offer you a cash incentive is a smart choice.

There are 12 major types of credit cards being provided by banks and financial institutions in India. These cards provide a wide variety of financial benefits to holders. Following are various types of credit cards available in India: Premium Credit Cards Cash Back Credit Cards Gold Credit Cards Airline Credit Cards Silver Credit Cards Business Credit Car Balance Transfer Credit Cards Co-branded Credit Cards Low Interest Credit Cards Lifetime Free Credit Cards Rewards There are some additional credit cards that are available in India as well. Rewards credit cards available in India can be subdivided into six categories Points, Hotels and Travels, Retail, Auto and Fuel.

Premium Credit Cards There are 33 various premium credit cards available in India ABN AMRO MakeMyTrip Go Credit Card ABN AMRO Platinum Credit Card ABN AMRO Titanium One Credit Card American Express Kingfisher First Credit Card American Express Platinum Credit Card Axis Bank Visa Platinum Credit Card Bajaj Allianz Super Value Titanium Credit Card Citibank Platinum Credit Card Deutsche Bank Landmark Platinum Credit Card Deutsche Bank Miles & More Platinum Credit Card Deutsche Bank Miles & More Signature Credit Card Deutsche Bank Platinum Credit Card HDFC Bank Platinum Plus Credit Card HDFC Bank Platinum Plus Credit Card HDFC Bank Titanium Credit Card

HDFC Bank Visa Signature Credit Card HSBC Platinum Credit Card ICICI Bank Ascent American Express Credit Card ICICI Bank Platinum Credit Card ICICI Bank Platinum Identity Credit Card ICICI Bank Platinum Premiere Credit Card ICICI Bank Thomas Cook Titanium Credit Card ICICI Bank Titanium Credit Card ICICI Signature Credit Card Jet Airways Citibank Platinum Credit Card Kotak Mahindra League Platinum Credit Card Kotak Mahindra Royal Signature Credit Card SBI (State Bank of India) Platinum Credit Card Standard Chartered Emirates Platinum Credit Card Standard Chartered Emirates Titanium Credit Card Standard Chartered Platinum Credit Card Standard Chartered Super Value Titanium Credit Card Yatra Barclaycard Platinum Credit Card

ATM
An electronic banking outlet, which allows customers to complete basic transactions without the aid of a branch representative or teller. There are two primary types of automated teller machines, or ATMs. The basic units allow the customer to only withdraw cash and receive a report of the account's balance. The more complex machines will accept deposits, facilitate credit card payments and report account information. To access the advanced features of the complex units, you will usually need to be a member of the bank that operates the machine. ATMs are scattered throughout cities, allowing customers easier access to their accounts. Anyone with a debit or credit card will be able to access most ATMs. Using a machine operated by your bank is usually free, but accessing funds through a unit owned by a competing bank will usually incur a small fee.

John Shepherd-Barron. Inventor John Shepherd-Barron installed the world's first automatic cash dispenser at a Barclays Bank branch near London [ Images ] in 1967. The machine was made by De La Rue Instruments and it used paper vouchers that had to be purchased from tellers in advance. The machine was called the De La Rue Automatic Cash System, or DACS. John Shepherd-Barron, 79, was named an Officer of the Order of the British Empire (OBE) for services to banking on December 30, 2004. Inventor John Shepherd-Barron installed the world's first automatic cash dispenser at a Barclays Bank branch near London in 1967. The machine was made by De La Rue Instruments and it used paper vouchers that had to be purchased from tellers in advance. The machine was called the De La Rue Automatic Cash System, or DACS. John Shepherd-Barron, 79, was named an Officer of the Order of the British Empire (OBE) for services to banking on December 30, 2004.

CHIP+BASED+ATM+CARD

Q1. What is RTGS System? Ans. The acronym 'RTGS' stands for Real Time Gross Settlement, which can be defined as the continuous (real-time) settlement of funds transfers individually on an order by order basis (without netting). 'Real Time' means the processing of instructions at the time they are received rather than at some later time.'Gross Settlement' means the settlement of funds transfer instructions occurs individually (on an instruction by instruction basis). Considering that the funds settlement takes place in the books of the Reserve Bank of India, the payments are final and irrevocable. Q2. How RTGS is different from National Electronics Funds Transfer System (NEFT)? Ans. NEFT is an electronic fund transfer system that operates on a Deferred Net Settlement (DNS) basis which settles transactions in batches. In DNS, the settlement takes place with all transactions received till the particular cut-off time. These transactions are netted (payable and receivables) in NEFT whereas in RTGS the transactions are settled individually. For example, currently, NEFT operates in hourly batches - there are eleven settlements from 9 am to 7 pm on week days and five settlements from 9 am to 1 pm on Saturdays. Any transaction initiated after a designated settlement time would have to wait till the next designated settlement time Contrary to this, in the RTGS transactions are processed continuously throughout the RTGS business hours.

Q3. Is there any minimum / maximum amount stipulation for RTGS transactions? Ans. The RTGS system is primarily meant for large value transactions. The minimum amount to be remitted through RTGS is ` 2 lakh. There is no upper ceiling for RTGS transactions. Q4. What is the time taken for effecting funds transfer from one account to another under RTGS? Ans. Under normal circumstances the beneficiary branches are expected to receive the funds in real time as soon as funds are transferred by the remitting bank. The beneficiary bank has to credit the beneficiary's account within two hours of receiving the funds transfer message. Q5. Would the remitting customer receive an acknowledgement of money credited to the beneficiary's account? Ans. The remitting bank receives a message from the Reserve Bank that money has been credited to the receiving bank. Based on this the remitting bank can advise the remitting customer that money has been delivered to the receiving bank. Q6. Would the remitting customer get back the money if it is not credited to the beneficiary's account? When? Ans. Yes.It is expected that the receiving bank will credit the account of the beneficiary instantly. If the money cannot be credited for any reason, the receiving bank would have to return the money to the remitting bank within 2 hours. Once the money is received back by the remitting bank, the original debit entry in the customer's account is reversed. Q7. Till what time RTGS service window is available? Ans. The RTGS service window for customer's transactions is available from 9.00 hours to 16.30 hours on week days and from 9.00 hours to 13.30 hours on Saturdays for settlement at the RBI end. However, the timings that the banks follow may vary depending on the customer timings of the

Q8. What about Processing Charges / Service Charges for RTGS transactions? Ans With a view to rationalize the service charges levied by banks for offering funds transfer through RTGS system, a broad framework has been mandated as under: a) Inward transactions Free, no charge to be levied. b) Outward transactions Rs. 2 lakh to Rs. 5 lakh - not exceeding Rs. 30 per transaction. Above Rs. 5 lakh - not exceeding Rs. 55 per transaction. Q9. What is the essential information that the remitting customer would have to furnish to a bank for the remittance to be effected? Ans. The remitting customer has to furnish the following information to a bank for effecting a RTGS remittance: Amount to be remitted Remitting customer s account number which is to be debited Name of the beneficiary bank Name of the beneficiary customer Account number of the beneficiary customer Sender to receiver information, if any The IFSC Number of the receiving branch Q10. How would one know the IFSC code of the receiving branch? Ans. The beneficiary customer can obtain the IFSC code from his bank branch. The IFSC code is also available on the cheque leaf. The IFSC code is also available on the RBI website (

E BANKING
Internet banking (or E-banking) means any user with a personal computer and a browser can get connected to his bank -s website to perform any of the virtual banking functions. In internet banking system the bank has a centralized database that is web-enabled. All the services that the bank has permitted on the internet are displayed in menu. Any service can be selected and further interaction is dictated by the nature of service. The traditional branch model of bank is now giving place to an alternative delivery channels with ATM network. Once the branch offices of bank are interconnected through terrestrial or satellite links, there would be no physical identity for any branch. It would a borderless entity permitting anytime Internet banking in india The Reserve Bank of India constituted a working group on Internet Banking. The group divided the internet banking products in India into 3 types based on the levels of access granted. They are: ) Information Only System: General purpose information like interest rates, branch location, bank products and their features, loan and deposit calculations are provided in the banks website. There exist facilities for downloading various types of application forms. The communication is normally done through e-mail. There is no interaction between the customer and bank's application system. No identification of the customer is done. In this system, there is no possibility of any unauthorized person getting into production systems of the bank through internet

ii) Electronic Information Transfer System: The system provides customerspecific information in the form of account balances, transaction details, and statement of accounts. The information is still largely of the 'read only' format. Identification and authentication of the customer is through password. The information is fetched from the bank's application system either in batch mode or off-line. The application systems cannot directly access through the internet iii) Fully Electronic Transactional System: This system allows bi-directional capabilities. Transactions can be submitted by the customer for online update. This system requires high degree of security and control. In this environment, web server and application systems are linked over secure infrastructure. It comprises technology covering computerization, networking and security, inter-bank payment gateway and legal infrastructure.