Match each commercial banking service or instrument with its corresponding business function or description.
- Bank OverdraftA credit facility permitting a current account holder to draw funds beyond their existing deposit balance up to an agreed limit.
- Standing OrderAn instruction from an account holder to their bank to make regular, fixed payments to a specified beneficiary on set dates.
- Credit TransferA system allowing a customer to pay multiple creditors at different bank branches using a single cheque or payment order.
- Discounting Bills of ExchangeThe purchase of an unexpired trade bill by the bank at a price lower than its face value to give immediate cash to the seller.
Cevap
The correct pairings are: Bank Overdraft matches drawing beyond deposit balance up to an agreed limit; Standing Order matches instructions for regular fixed payments on set dates; Credit Transfer matches paying multiple creditors with a single instruction; and Discounting Bills of Exchange matches purchasing unexpired trade bills below face value for immediate cash.
Each service is correctly linked to its standard commercial banking definition: overdrafts allow overdrawing up to a limit, standing orders automate fixed periodic payments, credit transfers settle multiple debts simultaneously, and discounting bills advances cash on trade bills before maturity.
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Anahtar Kavram
Commercial Bank Functions and Credit Services