Terms of General Banking

Terms of General Banking - About Terms of General Banking, sometimes there are some do still confused. As the term of General Banking bilyet eg, deposits, remittance and others. Although it is often heard that there may also still unclear. And here are some of General Banking term we commonly hear.

General Banking Terms

1. Collateral or Collateral

Collateral is collateral deposited by a debtor (borrower) to the bank as a lender, in order to finance or credit facilities from the bank to the debtor.

2. ATMs or Automated Teller Machine

ATM is a machine that uses a computer system and used to withdraw cash, interbank transfers, pay bills and more. The ATM machine is enabled by using a magnetic card (like a credit card) that have the codes and passwords.

3. Bilyet

Bilyet is written proof such as memorandum, and other forms containing information and or an order to pay, and can be used as proof of the transaction.

4. Interest rate of Bank or Bank

Bank interest is a reward that information available by the bank (for saving money) to clients on funds deposited ang. Bank interest is calculated based on a percentage (%) of the principal specific customer deposits. Bank interest rate depends on each bank.

5. Check or Cheque

The check was written order made by the client to the bank to withdraw the money according to the amount written in the check. Could check on behalf of himself (withdraw funds to their own) or fiat (others).

6. BLACK LIST (BLACK LIST)

List of individual customer names or companies to be sanctioned for doing certain actions that harm the banks and the public.

7. DEPOSITS (TIME DEPOSIT)

Time deposits are deposits that may only be withdrawn at any given time based on the agreement with the bank's depositors.

8. GIRO (CURRENT ACCOUNT)

Demand deposits are deposits which may be withdrawn at any time by check, bilyet gori, other forms of payment order, or the entry.

9. INKASO (COLLECTION)

Collection is billing checks, money orders, and other debt securities to the issuer of the securities and receive paymentfrom the payer bank (paying bank).

10. SECURITY BANK (BANK GUARANTEE)

Guarantee payments made to recipients warranty, if the party does not fulfill its obligations guaranteed.

11. DEBIT CARD (DEBIT CARD)

Bank cards that can be used to pay for a transaction / and or withdraw funds at the expense of the relevant cardholder account using a PIN (personal identification number)

12. CREDIT CARDS (CREDIT CARD)

The cards are issued by banks or credit card management company which entitles the people who meet certain requirements are named on the card to use it as a payment on account for the acquisition of goods or services, or to withdraw cash in the credit limit as set by the bank atai management company credit card.

13. SHIPMENTS OF FUND (FUND TRANSFER)

Transfer of funds between accounts related to accounts or third parties; Overseas remittances between financial institutions and other financial institutions sender as the receiver.

14. CLEARING (CLEARING)

Calculation of debts among the participants concentrated in one place by mutual surrender of securities and commercial papers set to be taken into account.

15. DEPOSIT BOXES (SAFE DEPOSIT BOX)

Safe property rental services or securities of specially designed steel material and placed in a repertoire that is strong, resistant and refractory unloading to maintain the security of stored items and provide security for its users.

16. CREDIT (CREDIT)

Provision of money or bills that can be equated with that based on an agreement between the bank lending to the other party that requires the borrower to repay the debt after a certain period of time with interest.

17. Deposit Insurance Corporation (LPS)

Legal entity conducting the guarantee of customer deposits.

18. PIN (Personal Identification Number)

Secret number given to card holders (credit cards, ATM cards, debit cards, etc.) that the code number can be given by a bank or finance company or determined by the card holder.

19. PRINCIPLES KNOW YOUR CUSTOMER (KNOW YOUR CUSTOMER)

Principles applied by the bank to know your identity as the customer and monitor customer transactions.

20. DEBITOR INFORMATION SYSTEM (SID)

The system provides information regarding the debtor that is produced from the debtor reports received by Bank Indonesia from the reporting agency.

21. SAVINGS (SAVINGS)

Deposits which may be withdrawn in accordance with certain agreed conditions, but can not be withdrawn by check, giro, and / or other equivalent devices with it.

22. TRANSFER / Remittance

Services account holders to send money from one account to the other owner or owners of the same account, from one city to another city or to the same city, in Rupiah or foreign currency.

23. CUSTOMER SERVICE UNIT (CUSTOMER RELATION)

Section or unit responsible bank to answer questions and resolve customer complaints encountered. The unit is usually called the customer service unit or for customer service over the phone called the call center. (Source term general banking: www.bi.go.id)