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What is Bank?

We should live and enjoy today but also work and save for tomorrow. Saving is to put money aside. Usually, people save money in the bank. A BANK is a place that looks after people’s money for them and keeps it safe. It also lends money to people to help them buy...

What happens when Credit/Debit card is Swiped?

You would have often seen people using cards in shops. They buy things, at the counter they give a card to shopkeeper who swipes the card on a machine, gives a receipt and people walk off with their things without paying any money seemingly.  Let’s understand...

FATCA Compliance for Bank Accounts, NPS, Mutual Funds

Mutual fund investors, bank account holders and those who have invested in insurance schemes between 1 July 2014 and 31 August 2015, cannot operate their accounts, from 1 May 2017 if they are not compliant with FATCA. This article explains what is FATCA? How to do...

All about ATM, how to Bank using ATM

You must have seen an ATM. These days people go to the ATM to withdraw money. In ATM, one inserts a card, punches in some numbers and viola! money comes out. Automated Teller Machine (ATM) allows one to do simple banking transactions, usually 24 hours a day. It...
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