Need and importance of plastic money. Needs and importance of plastic money for the economy 2019-02-26

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What are the benefits of using plastic money (cashless transactions) instead of cash transactions, for a nation?

need and importance of plastic money

Nupur Anand and Vishwanath Nair list out more options for your convenience. This is just over dependence on cards, which is foolish, because you still need cash for most of your expenses. Vehicles use plastic material because it optimizes the usage of power and make them more efficient. However, some cards have high fees. You may have to slowly accumulate an enormous amount of points to qualify for a trip. B The Debit Card services in meant for withdrawals against the balance already available in the designated account. Though you might start thinking of the world as a good place and people living in it as angels and seraphs, reality is not all that sweet, especially when you have lost or been robbed of plastic money.

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Importance Of Plastic Money Free Essays

need and importance of plastic money

However, with time, as you get to know the nuances of these 'dirty' terms and conditions, it might be too late. There is a lot of risk in carrying a large amount of cash in your wallet. One would be the lower cash advance limits, less rewards and promotional packages, and less travel perks compared to gold and platinum cards. These cards generally have very low credit limits and charge extra fees. Next: The very nations that are predicted in the Bible to fight within the Middle East at the Time of the End now battle for military advantage in Syria. If you do not love to travel and if you do not use your Credit card a lot, then, your ability to get rewards you like may be very limited.

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plastic money Essay

need and importance of plastic money

Check your agreement to find out what type of card you have. It is necessary as will be clear from its. Upper classes tend to use their cards as a convenient method of payment. Some people believe that money can buy everything when the others assert that it cannot. This is the way everyone used to carry cash and cards.


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What is your opinion of plastic money?

need and importance of plastic money

However, whether or not it is actually the only thing people are interested in today is much of controversy. These estimate, however, seems conservative, representing as it does only a 2 per cent increase over the growth between 2002 and 2003. So its time to become smart and avoid unnecessary wasteful expenditure. For Retail Merchants, the card is swiped through a magnetic reader on the point of sale terminal the authorization is transmitted to the appropriate card issuer for approval. Many a few has thus attracted even management students to research on them as case studies. This helped the merchants check that money was available and made it easier to track the customer if the funds could not be obtained. If you fail to do so, you are likely to be considered a defaulter and will usually have to pay up a steep late payment charge.

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What are the benefits of using plastic money (cashless transactions) instead of cash transactions, for a nation?

need and importance of plastic money

If a suspect is arrested he can be tried in a court of law. A victim of credit card fraud can sometimes see bank accounts emptied of all their funds or negative marks going on her credit report for things she had nothing to do with. Technological changes are taking place to reduce the harmful effect caused by its waste on the planet. Although credit cards do facilitate transactions, because they are a liability rather than an asset, they are not money and not part of the economy's money supply. It also used in making snow, skate boards and modern aviation equipments. Instead of writing out a check and having your bank make the resulting payment, you simply hand over your card.

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plastic money wikipedia need and importance

need and importance of plastic money

If during such times, plastic money is your only source of cash, you can be in a tricky situation. It can also describe illegally and fraudulently withdrawing funds from an account that is not yours. His job involves frequent travelling and meeting with leads and clients to develop business for the organization. In some cases, the cards are designed exclusively for use on the Internet, and so there is no physical card. But it seems to be meaningless for me to come in for. In unexpected financial emergencies, cards can be used to pay for what you need.

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Importance of plastic money

need and importance of plastic money

Smart cards could act as payment vehicles, access keys, information managers, marketing tools and customized delivery systems. This posed a major problem. It allows its holder to buy goods and services based on the holder's promise to pay for these goods and services. Further, they have 3-4 cards which are used one after the other at different places. Bitcoins are interesting as a social phenomenon as well as an economic one, but we are not likely to know exactly what changes, if any, this innovation will play in people's lives until much more time has passed. Authorization hold, Bank, Cheque 650 Words 2 Pages 4 January 2013 Plastics in Modern Society: Excess without Excuse All around us is plastic, and it plays a major part in our society.

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The importance of plastic money in today's scenario

need and importance of plastic money

The money portion is an erroneous reference to credit cards as a form of money, which they are not. Furthermore these credit and debit cards also have plastic used in their making and that is where the name 'plastic money' has originated from. All we need is the documentation to open a bank, account, and money in our bank when we use our debit card. Today it is very easy to carry money without having a lot of cash or gold. Plastic money is a term that is used predominantly in reference to the hard plastic cards we use everyday in place of actual bank notes.

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what are merits and demerits in plastic money

need and importance of plastic money

Therefore, it is easily said that money is crucial to sports, in several. They saw that the saints were upper class kids and instantly assumed they were good kids, the saints had the advantages of having money and cars which made them have an easier life because they could hide all the incidents they committed on the weekends. It will also provide a copy for a recent denial 30 days of credit. Transaction volumes include both cash withdrawals and purchases made through such cards. Although both debit cards and credit cards can be used to pay for goods in shops there are some important differences between the two. These advantages mean that using this card for your business is more convenient.

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