Page 41 - GK Class 05

36 Banking Matters

A cheque is a printed form on which you write an amount of money and
who it is to be paid to. Your bank then pays the money to that person from

your account.
Name of person you
Let’s look at some of the features of a cheque. want to give money

Name of Bank IFSC-Unique number of bank Amount to be paid
Date on
which
cheque is
issued

Signature

of
Account

holder

Bank Account number Cheque number

A debit card is a payment card that deducts
money directly from a consumer’s account to

pay for a purchase.

A credit card is a plastic card that people use to
purchase goods and services on credit. The card

issuer pays for the purchase and the cardholder
pays to the issuer at a later date. In other words,

the issuer lands the cardholder the money to buy
things.

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