plastic money

Plastic Money

Plastic money is the name given to all types of plastic bank cards

There are 4 advantages of using plastic money:1> It guarantees cheques2> It can obtain cash from the ATM

3>It can pay for goods by electronic funds transfer at the point of sale (EFTPOS)

4>You can buy goods on credit

Some types of plastic money are cash cards

ATM cards

credit cards, debit cards

Smart cards

The Smart card carries a microchip with information on the holder

Some names of ATM are ATM agribank, ATM Vietcombank, ATM ACB, ATM BIDV,

A customer can use an ATM card by inserting the card and key the PIN number in and then by following a clear set of instructions

The teller in a bank in America is a person receiving and handing out money

Credit cards are used for payment of goods at supermarkets, stores, shopping centers

Credit Card Process

Pay money through Clearing System

voucherretailer

Redit Card Company

voucher

statement

There’s an electronic device to read the credit card.

A customer signs 3 copies of each voucher-one for himself, one for retailer and one for the bank.

The credit card company charges retailers round 4 percent of the total value of purchases.

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