Banking

• Financial Institution established, completes and facilitates monetary transactions such as loans, mortgages and deposits.
• Financial System is the heart of the economy once it stops working then the economy will collapse. It composed of bank institutions and non-bank financial intermediaries.
• Money is anything that is widely used as payment for goods and services. It is also anything that is used as a medium of exchange.
• El Banco Español Filipino de Isabel ll is the first commerce bank in the Philippines that is now called Bank of the Philippine Islands.
• Piloncitos first local coinage.
• Dos Mundos most beautiful money on its time, cross on the other side and royal coat of arms on the other.
• Pesos Fuertes is the first paper money in the Philippines.
• Obras Pias first financial institution in the Philippines.
• Shekels is the first money used in Ancient Babylonia.
• Barter System is the first form of exchange during Pre Hispanic Era.
• Cowry Shells or Cowries (gold, jade) is the first used as currency during Pre Hispanic Era.
• Monte de Piedad y Caja de Ajorros is the first savings bank in the Philippines that is bought by BDO and was called g.e money bank.
• Three Types of (E-bank) E-money devices.

  • Access Devices

  • Card-Based Products

  • Software Prepayment Products
• Advantages of Savings Account

  • Access and Availability
  • Protection
  • It's a liquid asset
  • Savings Account accrue interest
  • Low startup requirement
  • Automated bill payment
  • No lock-in period
• Disadvantages of Savings Account

  • Minimum balance requirement
  • Low interest rate
  • Withdrawal limit
  • Access and availability
• Savings Account - money for long term goals.
• Checking accounts - money for everyday needs.
• In Demand Bank Jobs

  • Operations Manager
  • Tellers
• Hard to fill-in Bank Jobs

  • Accounting Clerks
  • Bookkeepers
  • Auditor
  • Cashier
  • Credit card analyst
  • Finance Analyst Specialist
  • Accountants
  • Risk Management officers/managers
• 5Cs of Credit

  • Capacity
  • Capital
  • Collateral
  • Condition
  • Character
• Industry Grouping of Banking Institutions

  • Statisticians
  • Accountants and Auditors
  • Economists
  • Bookkeepers
  • Accounting and bookkeeping clerks
  • Statistical finance clerks
  • Tellers
  • Customer service representatives and associates in call center
  • Unskilled workers except janitors, messengers and freight handlers
• Investment Bankers - raise fund for corporation by issuance of security.
• Loan officers - assist possible borrowers on their loans, find the suitable loan for them, and assures the customers credit worthiness.
• Accountants, Auditors and Bookkeepers - record all the transactions that enters bank, provide financial reports.