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Banking
Commercial Applications · Chapter 6 · 2: Understanding Finance
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- Functions of the central bank and of commercial banks; differences between them
- Types of deposit accounts: savings, current, recurring and fixed
- Operating a bank account: pass book, cheque book and pay-in slip; advantages of a bank account
- Cheques: advantages, disadvantages and grounds for refusal of payment
- Automated Teller Machine; cheque versus bank draft