Banking Services and Financial Operations: A Comprehensive Look

Banking Services

Characteristics

Banking services are activities undertaken by a bank at the request of its customers, satisfying a need. Their price is called a commission.

Differences from Goods

• Intangibility: Services cannot be perceived by the senses. You do not know if a service is expensive or not until it is used.
• Inability to Protect with Patents: Services cannot be patented; only the name is patented (e.g., Visa).
• Perishability: If a service is not used, it is lost.
• Impossibility of Appropriation: Purchase only grants the right to use the service, not ownership.

Debits

Debits are authorizations given to the bank to make collections and payments from a bank account.

• Collections: Payroll, pensions, broadcast collections.
• Payments: Utilities (electricity, water, telephone), recurring transfers.

Transfers

A transfer is the movement of funds from the payer's account to the payee's account. It is made in writing.

Credit and Debit Cards

Credit and debit cards are instruments that allow the acquisition of goods and services in certain shops and the use of ATMs.

• Credit Cards: Charges are immediate, but settlement is in the following month. They have a limit that depends on the amount and the term. A fixed amount and a variable interest rate are charged.
• Debit Cards: The annotation and the position are immediate. They are limited by the amount shown as the balance. There is a commission for use.

Telephone and Electronic Banking

Telephone and electronic banking offer customers the opportunity to perform extensive operations from home or the company. They require a PIN and password.

Available Services:

• Stock transfer consultation
• Purchase of securities
• Payment of bills
• Reporting lost cards
• Product or service information
• Standing orders to pay for insurance

Management of Collection of Commercial Papers

This is the authorization given to the bank to collect commercial papers. It generates expenses, including a commission with VAT on the commission, a return commission, and protest expenses.

External Means of Payment

• Payment Order: A means of payment involving the importer's bank (payer) and the exporter's bank (beneficiary).
• Remittance:
  • Simple: The operation is formalized in a bill of exchange. The exporter sends the goods, their documentation, and the bill.
  • Documentary: The exporter sends the goods upon acceptance or payment of remittances to avoid default risk.

Other Services

• Point of Sale Terminal (POS) or Dataphones: Card readers are devices that allow businesses to collect payments without handling cash. They are connected to the authorization centers of card issuers.
• Safety Deposit Boxes: Shielded compartments with two keys for opening.
• Permanent Mailbox: Safes installed on the facade of the office.
• Wallet Card: These cards are ideal for small purchases and can be recharged.
• Confirming: This involves managing the payment of invoices from suppliers, offering them the possibility of collecting before the due date. The bank conducts financial management and administration, eliminating the need for issuing bills of exchange and promissory notes.