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Basics Of Banking By Finance Assignment Help Providers In Australia
Agenda Style Fundamentals of Banking Different Types of Bank Accounts 01 02 03 04 Major Banks in Australia Payment Methods in Australia Get the Best Finance Assignment Help Services in Australia by Online Assignment Experts
1 Transaction Accounts Deposit or Savings Accounts Term Deposit Accounts This type of account is used for day to day transactions such as - bill payments, shopping, salary deposit, etc. There are monthly fees associated with the transaction accounts based on the services required. Savings accounts are interest-bearing. Interest earned depends on the balance in the account. However, a minimum balance may be required to gain interest. As compared to saving accounts higher rate of interest is paid on term accounts. In this type of account minimum balance is generally needed and money must be there in the account for a certain period. 2 3 Different Types of Bank Accounts There are three major types of bank accounts in Australia.
Fundamentals of Banking In the fundamentals of banking come the major and minor concepts and principles of banking. Banking deals with the storage for cash, credit facilities, interest, investment, and other financial aspects. It is one of the biggest industries and plays a key role to run a country’s economies as it also provides funds to those who need it for a productive purpose.
Major Banks in Australia National Australia Bank (NAB) There are numerous banks in Australia. Among them, four prime banks are mentioned below. A few small banks in Australia are - Bank of Queensland, Bankwest, Bank SA, Bank of Melbourne, etc. Commonwealth Bank of Australia (CBA) Australia and New Zealand Banking Group (ANZ) Westpac Banking Corporation
Payment Methods in Australia • Along with cash, there are numerous payment methods in Australia. Such as – • Credit cards • EFTPOS • Credit debit cards • Cheques
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