Wednesday, February 20, 2013

17-Teach Banking Stuff to your child


Dear Parents,

Now it is time to learn everything about our life style and all the necessary things required for us. One of the most important tasks is to learn the Banking Business.  Right from small age of our child, he/she should know about the Banking Stuff.

Now-a-days, it is the time of Internet Banking, Phone Banking, Credit Cards, Debit Cards and Cash Cards.

Now we need to teach all the aspects of Internet Banking starting from creation of user ID/Password. Every Bank has got its own way to use the Banking Account by user. Some Bank provides us User name & Password & then sends the Dynamic Code on our registered Mobile & email for double security purpose. Some Bank Provide their own tools (Software for Token with desk-top-page) with User Name/Password & Token-Pin with separate Transaction Id & Password. Like this there are so many other concepts of net Banking. These concepts need to be taught to our Child.

Secondly, we need to teach them the functioning of the Bank. Concept of Cheque (some countries call it as check), Banker’s Cheque, Demand Draft and so on. The detailed functioning of Credit Card, Debit Card (ATM Card), Cash Card needs to be taught to our child.

Our child should know how to withdraw the amount from ATM (we need to be there in ATM center Along with the child). Like this, he/she will know the functioning the ATM.

Simultaneously, we can build the habit of saving the amount in Bank, right from their small age.

This will increase their curiosity about banking Sectors and definitely it will help the child to build the good habits.

I think, Awareness of the complete knowledge will help to stop the fraud in Internet Banking.

Anil Satpute