11-09-2013, 12:19 PM
Presentation on PLASTIC MONEY
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WHAT IS A PLASTIC MONEY?
The plastic money generally a credit or debit card with a magnetic strip many people carry in their wallets or purses is the end result of a complex banking process.
Holders of a valid card have the authorization to purchase goods and services up to a predetermined amount, called a credit limit.
BIRTH OF PLASTIC MONEY
It all began in the year 1951.
New York based bank called Franklin National Bank started providing cards (Plastic Money).
FEATURE OF PLASTIC MONEY
A plastic money is a card or mechanism which enables to purchase goods, travel and dine in a hotel without making immediate payments.
services at over 20 Million locations around the world.
The holders can also use the cards to credit from banks.
WHO CAN BE A (Credit/debit) CARD HOLDER
A person who earns a salary of Rs. 60,000/_ per annum is eligible for a card.
He should have a savings current account in the bank.
His assets and liabilities on a particular date are reported to bank.
A statement of annual or monthly income.
He is considered credit worthy upon to certain limit depending upon his income, assets and expenditure.
NAME OF THE CUSTOMER
Every card displays the name of customer. It should be spelled correctly. In case, it does not, the customer can contact the customer service cell/helpline and get the necessary correction done. This facility is provided free of cost by the bank.
MAGNETIC STRIP
The black magnetic strip contains important information in encoded from and needs special handling. The card should not be kept in an area where there is a continuous magnetic field. It should not be left on the top the television. Set or near any electronic appliance. The card should be kept away from heat and direct sun light.
PIN (PERSONAL IDENTIFICATION NUMBER):
Each card holder is issued a password or pin to enable use of the card for accessing his/her card account on the ATM and internet and also for availing any privilege, benefit or service that may be offered by bank on the card.