Module 3: Documents and authorisation of documents 3.8 Internet banking


Internet banking is the use of a personal computer for making transactions in bank accounts over the Internet. Going to the bank can be time consuming. Internet banking, also known as online banking, is becoming more popular. Internet banking is convenient and a safe way to handle your money.


A business has to register for electronic banking. The business then has access to various services and facilities. It enables a business to look after some of its banking needs using a computer connected to the internet. It is possible to request bank statements, to review the history of the account’s transactions, transfer funds from one account to another, pay water and electricity accounts, or pay the weekly wages. This means that the business does not need to physically go to the bank or wait for their bank statement to be sent to find out the status of the account. Banking can happen from almost anywhere you are, as long as you have Internet access.


3.9 Withdrawal slip


A withdrawal slip is a form that is required when you withdraw money from your account. If you are at a bank branch to withdraw funds from your account, you must complete a withdrawal form.


A withdrawal slip is a written instruction to the bank to pay the amount on the withdrawal slip to the account holder. The funds are debited from the account number mentioned.


A bank withdrawal slip is a record of your banking transaction. It helps the bank keep track of your withdrawals.


When you withdraw money at the ATM, then an ATM withdrawal slip is a piece of paper issued to you after you have withdrawn funds. It is a record of your withdrawal and mentions the date, time, and amount withdrawn.


3.10 Debit card slip A debit card is a plastic payment card that can be used instead of cash when making purchases.


A debit card takes money from your banking account when you use it when making a purchase. The slip which is generated from the debit card machine will indicate how much was spent, where it was used, date and time of transaction.


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