Overdraft: An overdraft is a banking service that allows an individual to withdraw more money from their account than they currently have. It basically means spending more money than is available in one's account. Overdrafts can be either authorized or unauthorized. Authorized overdrafts are pre-approved by the bank, and the account holder pays interest on the amount borrowed. Unauthorized overdrafts occur when an individual spends more money than is available in their account without prior approval. In such cases, the bank may charge hefty fees and high-interest rates.
Traveler's Cheque: A traveler's cheque is a pre-printed, fixed-amount check designed to be used as a form of payment while traveling. It is purchased from a bank or a financial institution and provides a safe and convenient way for individuals to carry money during their travels. Traveler's cheques typically require the signature of the holder upon use, which acts as a security measure against theft or misuse. They can be replaced if lost or stolen, providing travelers with added peace of mind. However, traveler's cheques have become less popular in recent years due to the widespread availability of credit and debit cards.
E-Banking (Electronic Banking): E-banking, also known as electronic banking or online banking, refers to the digital platform provided by banks or financial institutions that allows customers to access and manage their accounts through the internet or mobile applications. E-banking enables customers to perform various banking transactions conveniently and securely, such as checking account balances, transferring funds, paying bills, applying for loans, and even making investments. It offers customers the flexibility of accessing their accounts 24/7 from anywhere, reducing the need for physical branch visits. E-banking usually requires customers to have a secure login and may utilize additional security measures such as two-factor authentication or encryption to protect user information.
Explain the following: overdraft, traveler cheque, E-banking
3 answers
Read and summarize Matthew 27:32-44
Matthew 27:32-44 recounts the events leading up to and during Jesus' crucifixion. Here is a summary:
After Jesus was condemned to death, as they were heading out of the city, they met a man named Simon from Cyrene. He was forced by the soldiers to carry Jesus' cross. They reached a place called Golgotha, which means the Place of the Skull. There, they gave Jesus a drink of wine mixed with gall, which he tasted but refused to drink.
Then, they crucified Jesus along with two criminals, one on his right and the other on his left. People passing by mocked him and hurled insults at him. They even challenged him to save himself if he truly was the Son of God. The religious leaders and the soldiers also mocked him, saying that if he was the King of Israel, he should come down from the cross and then they would believe in him.
At about noon, darkness covered the land until three in the afternoon. Then, Jesus cried out with a loud voice, saying, "My God, my God, why have you forsaken me?" Some of those present misunderstood his words and thought he was calling for Elijah. One of them quickly soaked a sponge in wine, put it on a stick, and offered it to Jesus to drink.
Then, Jesus cried out again with a loud voice and gave up his spirit. At that moment, the curtain of the temple was torn in two, from top to bottom. The earth shook, rocks split apart, and tombs were opened. The centurion and those guarding Jesus were terrified, recognizing that he truly was the Son of God.
In summary, this passage describes the crucifixion of Jesus, his interaction with those around him, the mocking and insults he endured, and the eventual moment of his death on the cross.
After Jesus was condemned to death, as they were heading out of the city, they met a man named Simon from Cyrene. He was forced by the soldiers to carry Jesus' cross. They reached a place called Golgotha, which means the Place of the Skull. There, they gave Jesus a drink of wine mixed with gall, which he tasted but refused to drink.
Then, they crucified Jesus along with two criminals, one on his right and the other on his left. People passing by mocked him and hurled insults at him. They even challenged him to save himself if he truly was the Son of God. The religious leaders and the soldiers also mocked him, saying that if he was the King of Israel, he should come down from the cross and then they would believe in him.
At about noon, darkness covered the land until three in the afternoon. Then, Jesus cried out with a loud voice, saying, "My God, my God, why have you forsaken me?" Some of those present misunderstood his words and thought he was calling for Elijah. One of them quickly soaked a sponge in wine, put it on a stick, and offered it to Jesus to drink.
Then, Jesus cried out again with a loud voice and gave up his spirit. At that moment, the curtain of the temple was torn in two, from top to bottom. The earth shook, rocks split apart, and tombs were opened. The centurion and those guarding Jesus were terrified, recognizing that he truly was the Son of God.
In summary, this passage describes the crucifixion of Jesus, his interaction with those around him, the mocking and insults he endured, and the eventual moment of his death on the cross.