Charging down the high street
Article Abstract:
The possibility that banks may charge customers for credit anddrawing checks has focused greater attention on other available forms of payment. The Bank of Scotland's Keycard Plus, for instance, doubles as a Switchcard. The Lloyds Bank Payment Card and Barclays Connect can be used as debit cards in establishments having Visa or Delta signs. The Yorkshire Bank providesan ATM card or a Paymaster multifunction card which can be used to pay for goods and services together with its Paymaster Plus checking accounts. Other current accounts also have sweep functions that allow funds to be transferred to savings accounts. For example, the Midland Bank's Orchard current and savings account allows funds transfer by check card, telephone or regular monthly transfer. Telphone banking is another alternative. The Midland's Firstdirect Cheque Account allows customers to call for bill payments or balance inquiry.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1993
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Opportunity knocks
Article Abstract:
Investors with foreign currency funds profit from turbulence in the foreign exchange markets. These investments are made by depositing with first class banks. Investors, in turn, get a wholesale rate of interest on the currency they selected. The two types of funds are the managed and the individual single currency funds. Under the managed funds, investments are valuated in a leading currency and the manager chooses the currency mixture that shows the most potential. These funds are either roll-up or distributor. While 85% of the income from distributor funds is paid out in dividends to the investors, whole income from roll-up funds are retained and reflected in the price of the funds. Money Management Magazine provides comprehensive overview of the performance of several single and managed currency funds while the Financial Times provides prices of such funds.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1992
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