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The customer's initial payment to the bank serves as the account balance for the credit card and ceiling limit of what can be spent. The bank's repayment to the customer constitutes whatever balance is left over after purchases.) [395] cards that act much like debit cards, with any transaction "directly debited" from the holder's bank account ...
A bank provides a line of credit to the cardholder and charges a monthly or yearly usage fee tied to the outstanding balance of the line of credit. [211] A customer is allowed to buy an item with a card, but in the instant that the card goes through, the bank purchases the item before selling it to the cardholder at a higher price. [211]
Habib Bank Limited (Urdu pronunciation: [ha.ˈbiːb bɛŋk] hah-BEEB-BANK) is a Pakistani commercial bank based at Habib Bank Plaza, Karachi. It is a subsidiary of Swiss-based organisation Aga Khan Fund for Economic Development. Established in 1941 by the Habib Family, it is one of the oldest bank of Pakistan.
Bank Alfalah Limited (Urdu pronunciation: [bɛŋk al.fə.ˈlaːh] bank-al-fuh-LAH), formerly known as Habib Credit and Exchange Bank, is a Pakistani commercial bank headquartered in Karachi. It is a subsidiary of an Emirati conglomerate, Abu Dhabi United Group .
A credit card is a payment card, usually issued by a bank, allowing its users to purchase goods or services, or withdraw cash, on credit. Using the card thus accrues debt that has to be repaid later. [1] Credit cards are one of the most widely used forms of payment across the world. [2]
Bai Salam (Arabic بيع سلم, more accurately transliterated as Bai us Salami) is an Islamic contract in which full payment is made in advance for specific goods (often agricultural products) to be delivered at a future date.
In lending, a pre-approval is the pre-qualification for a loan or mortgage of a certain value range. [1]For a general loan a lender, via public or proprietary information, feels that a potential borrower is completely credit-worthy enough for a certain credit product, and approaches the potential customer with a guarantee that should they want that product, they would be guaranteed to get it.
A cheque guarantee card was an abbreviated portable letter of credit granted by a bank to a qualified depositor in the form of a plastic card that was used in conjunction with a cheque. The scheme provided retailers accepting cheques with greater security.