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Debit and credit are two sides of the same coin in financial transactions. Debit means money is being taken out of an account, while credit means money is being added to an account. Debit decreases the balance, while credit increases it. Think of debit as a subtraction and credit as an addition in your financial records.

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5mo ago

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Explain special relationship between banker and customer?

Bankers and customers work together to do financial transactions. A good banker will help a customer secure mortgages, balance accounts, and maintain a good relationship with the bank.


Can you explain what a credit card network is and how it functions within the financial industry?

A credit card network is a system that facilitates transactions between merchants, cardholders, and banks. It acts as a middleman, processing payments and ensuring that funds are transferred securely. These networks, like Visa and Mastercard, set the rules and fees for transactions and help connect different financial institutions to enable card payments worldwide.


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The statement balance is the amount you owed at the end of the last billing cycle, while the current balance includes any recent transactions or payments.


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Unsettled cash refers to funds that have been deposited into an account but are not yet available for withdrawal or trading. This typically occurs when a transaction has been initiated but has not yet been fully processed or settled.

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