Overdraft vs Demand Draft The backbone of the modern economy is the banking system. It is one such financial institution on which almost all individual and business entity depends on. The banking institution around the world offers various monetary arrangements for ease of financial transactions. Overdraft and Demand draft are …
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Stale Cheque vs Post Dated Cheque The terms: Stale cheque and Post-dated cheque, are two of the many types of cheques that can be cashed in by an individual at a bank. When a cheque has a date written on it which is three months or more before the time …
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UPI vs Internet Banking Unified Payment Interface (UPI) and Internet banking are two of the most commonly used banking tools which facilitate the user to perform several baking operations through the internet. The difference between UPI and Internet Banking is that UPI is mainly used to transfer funds (both peer …
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Commercial Bank vs Development Bank The primary function of a bank is to support the economic system by acting as a mediator between depositors and loan seekers. Banking services are essential for the development of a country, functioning as the back-bone to economies. There are three categories of Banks, namely …
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Internet Banking vs Debit Card Internet Banking and Debit card are two different methods of conducting monetary transactions. Internet banking is carried out through the bank’s official website whereas to use a Debit Card, the account number has to be entered. The Debit Card is also used to withdraw cash …
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Mobile Money vs Mobile Banking Mobile money and Mobile Banking are two separate terms for a modernized way of cashless transaction. Mobile money and Mobile banking, both are maintained by the financial institution that provides the service for the users. Through Mobile money, one can pay, receive and store money …
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Pound vs Quid The currency of a country is the backbone of its economy. However, the countries such as Sweden that have gone completely paperless, there are many paper currencies in the world such as Dollar, Pound, and Euro. Pound is a popular currency in prevalence in many countries. It …
Merchant Banking vs Wholesale Banking Merchant Bank is an entity that performs different types of financial activities for its clients. This bank does not provide any regular banking services to the general public. They manage international finances and provide services like raising funds, providing financial advice to businessmen, etc. There …
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Merchant Bank vs Development Bank A merchant bank is a financial institution for large companies that provides a range of services. These services include lending, advising, underwriting, fundraising, etc. They expertise in international trade. This is the reason they are most commonly approached by multinational corporations (MNCs). A development bank …
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Internet Banking and NEFT The difference between Internet banking and NEFT is, Internet banking, is very effective for the customers as they do not need to go to the bank for numerous banking activities and only after few simple clicks the job is done while just sitting at the comfort …
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