Back to Course

JSS2: BUSINESS STUDIES – 2ND TERM

0% Complete
0/0 Steps
  1. Bank Services | Week 1
    8 Topics
    |
    1 Quiz
  2. Insurance | Week 2
    6 Topics
    |
    1 Quiz
  3. Personal Qualities of an Entrepreneur | Week 3
    1 Topic
    |
    1 Quiz
  4. Business Opportunities | Week 4
    2 Topics
    |
    1 Quiz
  5. Consumer Rights and Responsibilities | Week 5
    2 Topics
    |
    1 Quiz
  6. Shopping Tips | Week 6
    4 Topics
    |
    1 Quiz
  7. Bookkeeping Ethics I | Week 7
    2 Topics
  8. Bookkeeping Ethics II | Week 8
    2 Topics
    |
    1 Quiz
  9. Ledger Entries | Week 9
    3 Topics
    |
    1 Quiz
  10. Petty Cash Book | Week 10
    5 Topics
    |
    1 Quiz



  • Do you like this content?

  • Follow us

Lesson Progress
0% Complete
banking - business studies

The advancement in information communication technology recently has made it possible for banks to change their operations from manual to full electronic banking platforms.

Electronic Banking:

Electronic banking is a banking system in which the customer conducts transactions electronically via the internet using a personal computer. With electronic banking, the customer is able to:

1. Transfer money from one account to another.

2. Pay utility bills such as phone, electricity, water bills, etc.

3. View and print his account statement with the bank.

4. Manage and monitor his or her account on a 24 hours basis.

Some types of electronic banking are:

  1. Electronic Funds Transfers.
  2. Internet Banking or Online Banking.
  3. Networking Banking.
  4. Member card.
  5. Telephone mobile banking.
  6. Home/PC Banking.

Electronic Fund’s Transfer: The electronic fund’s transfer is used to transfer money from one location to another as instructed by the owner.

Internet Banking or Online Banking: This involves carrying out the business transaction by visiting the website of the bank concerned.

Network Banking: The banks, with a view of making banking transactions easier recently introduced network banking. In the network form of banking, the bank normally links their branches through radio or a network of communication making it possible for a customer having an account in one branch of a particular bank to deposit or withdraw money from another branch.

Member Card: These are cards issued by banks or corporate bodies to their customers with some amount of money credited into them.

Telephone Mobile Banking: This form of banking is provided by most of the banks to their customer on a twenty-four-hour basis. The customer’s phone is configured by the bank to access his account in order to enable him to carry out transactions with his/her phone.   

Home/PC Banking: This electronic banking facility is extended to a reputable bank customer with a personal computer, which is linked to the bank’s network.

Responses

Your email address will not be published. Required fields are marked *

error: