Practise Of Banking

PRACTISE OF BANKING CREDIT CARDS

INTRODUCTION • A credit card is part of a system of payments

named after the small plastic card issued to users of the system. It is a card entitling its holder to buy goods and services based on the holder's promise to pay for these goods and services.[1] The issuer of the card grants a line of credit to the consumer (or the user) from which the user can borrow money for payment to a merchant or as a cash advance to the user.

EARLY CREDIT CARDS

Charge cards

Charga Plate

Bankamericard

GRACE PERIOD • A credit card's grace period is the time

the customer has to pay the balance before interest is charged to the balance. Grace periods vary, but usually range from 20 to 50 days depending on the type of credit card and the issuing bank. Some policies allow for reinstatement after certain conditions are met.

INTEREST CHARGED • Credit card issuers usually waive

interest charges if the balance is paid in full each month, but typically will charge full interest on the entire outstanding balance from the date of each purchase if the total balance is not paid.

PARTIES INVOLVED • Cardholder-the customer who holds the card. • Merchant- the individual or the business that

accepts the card. • Card-issuing bank-the financial institution or the organization that issues the card to the customer. • Acquiring bank-the bank financial institution that accepts the payment for purchase

continue • Merchant account-the bank or the

financial institution deals with. • Credit Card association-an association of card issuing banks for e.g.- visa,master card, discover, American express.

(1) is the bank logo. (2) is the EMV chip (commonly referred to as 'Chip And Pin') (3) is the Hologram (4) is the 16 digit card number (5) is the logo of the card type (6) is the expiry date (7) is the name of the cardholder

(1)Magnetic Stripe (2)Signature Strip (3)Card Security Code

TRANSACTION STEPS 1. Authorization 2. Batching 3. Clearing and Settlement 4. Funding 5. Charge backs

STATE BANK OF INDIA • The evolution of State Bank of India can be

traced back to the first decade of the 19th century. It began with the establishment of the Bank of Calcutta in Calcutta, on 2 June 1806. The bank was redesigned as the Bank of Bengal, three years later, on 2 January 1809. It was the first ever joint-stock bank of the British India, established under the sponsorship of the Government of Bengal.

STATE BANK OF INDIA • Subsequently, the Bank of Bombay

(established on 15 April 1840) and the Bank of Madras (established on 1 July 1843) followed the Bank of Bengal. These three banks dominated the modern banking scenario in India, until when they were amalgamated to form the Imperial Bank of India, on 27 January 1921.

STATE BANK OF INDIA • The All India Rural Credit Survey

Committee proposed the take over of the Imperial Bank of India, and integrating with it, the former state-owned or stateassociate banks. Subsequently, an Act was passed in the Parliament of India in May 1955. As a result, the State Bank of India (SBI) was established on 1 July 1955.

STATE BANK OF INDIA • The corporate center of SBI is located in Mumbai.

In order to cater to different functions, there are several other establishments in and outside Mumbai, apart from the corporate center. The bank boasts of having as many as 14 local head offices and 57 Zonal Offices, located at major cities throughout India. It is recorded that SBI has about 10000 branches, well networked to cater to its customers throughout India. SBI provides easy access to money to its customers through more than 8500 ATMs in India.

SBI CREDIT CARD

SBI GOLD & MORE CREDIT CARD

SBI CREDIT CARD   SBI Gold & More Card • Cash Back in Departmental Stores & Groceries • Cash Back in Restaurants • Cash Back on Utility Bill Payment • Cash on the go • Enjoy a world of convenience • Flexi pay • Teledraft Facility (Easy Money Draft) • Credit facility • Book your railway tickets online

SBI CREDIT CARD

SBI SPICE JET CARD

SBI CREDIT CARD Spice Jet SBI Card • Flexipay • Easy bill pay • SBI Card Pay Net • SBI Card Pay Cash

SBI CREDIT CARD

SBI PLATINUM CARD

SBI CREDIT CARD   SBI Platinum Card • Global Concierge Services • Auto Assistance Service • Travel Related Assistance Services • International Markup Waiver • Travel Insurance • Platinum Club Offers • Exclusive Lifestyle Privileges • Power Points • Flexipay Installment Plan • Credit Facility • Cash Access across the World

SBI CREDIT CARD DOCUMENTATIONS  Pan Card Photocopy  Address Proof - Driving license, ration card, voter’s id card, passport, electricity bill, telephone bill, certificate from employer.

 Verification Document (if any) In case the doesn’t have any of the above mentioned documents for address proof the customer can give the E-STATEMENT of any credit card of his.