Financial products for residents Dagmar Toscherová.

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Presentation transcript:

Financial products for residents Dagmar Toscherová

Who is a resident? Resident is a person who has a relationship to a particular state Resident in Czech Republic = a person who live in Czech Republic

Basic types of financial products Bank accounts Payment cards Loans Saving Insurance

Bank accounts Personal account This account ensure cash and cashless payments. Interest on the is very low. Savings account Is for saving temporarily available founds. Interest ist higher. Direct banking With direct banking manages client his finances via the internet or mobile phone. It´s secure, fast and convenient. Save time and money. Account for young Are for childern or young people. The account has many benefits. Business account Is a very similar to a personal account, only the account holder´s name is the business DBA name. The account holder can perform basic banking transaction, such as deposits, withdrawals and transfers.

Payment cards = a card that be used by a cardholder and accepted by merchant to make a payment for a purchase or in payment of some other obligation Types: Credit card → client pays with bank money Debit card → client pays with his money Charge card,…

Loans Loan is an arrangement in which a lender (bank) gives money to a borrower, and the borrower agrees to repay the money. Usually along with interest, at some future point in time. Usually, there is a predetermined time for repaying a loan.

Saving Saving account Time deposit Is savings account in financial institution for a fixed term with interest by the ammount of the deposit. Higher deposit = higher interest. Building savings In Czech Republic is very popular savings product. The client can get a cheap loan for living. State povides a contribution for this saving. Bankbook (Passbook) Is a book given by bank to rekord deposits, withdrawals and interes.

Insurance Is a promise of compensation for specific potencial future loss in exchange for a periodic payment. Agreeing to the terms of a insurance police creates a contract between the insured and the insurer. Examples: car/life/businnes,… insurance

Questions What documents needs a resident for opening person account? Have any of you a loan? What do you think about high interest?