Year 9 ICT
Banking
Applications
June 14, 2021
Curriculum
goals
• Describe what the students will study during
the school year, including the overall
curriculum plans and goals.
• Include a detailed, colorful syllabus for parents
to take home.
• Suggest ways that parents can help their child
learn, such as reading together for 20 minutes a
day.
• Use more than one slide to cover this
information.
Banking Applications
• ICT has revolutionised the way that we do
banking, allowing near instant global
access to a wide variety of banking
services. This lesson looks at the banking
services that are now provided by ICT and
the computer processing that takes place.
Electronic Funds • Electronic Funds Transfer
(sometimes known as a wire
Transfer transfer) is the electronic
(EFT) transfers of funds from one
bank account to another,
anywhere in the world.
• Transfers can be near instant,
or take a couple of days,
depending on the nature of the
transaction and the
arrangements between the
banks.
Wire transfer computing process
• The money sender gives their bank the
receiver’s bank account details and requests
an amount of money to be sent.
• The bank checks that the destination bank is
valid and deducts the funds from the
sender’s account
Advantages
• Money can be sent globally
rapidly to help in emergency
situations (airline failure,
medical emergencies).
• Can be send anywhere on the
globe.
• Safer than carrying cash
around the world on a plane.
Disadvantages
• Often used in fraud and
blackmail.
• Money can be hard to
trace between countries,
leading to money
laundering and tax
evasion
Automatic Teller
Machines (ATM)
• ATMs are useful for several
different services. Can you
find the 9 common services
hidden in the word-search
below?
ATM Computer
Processing
1. The user puts their card in the machine and enters their PIN.
2. The computer checks the PIN entered against the PIN stored on the card.
3. The user enters the amount of money they require
4. The machine authorizes the transaction with the user’s bank. The user’s
bank deducts the funds from the user’s bank account.
5. The machine issues the cash. The user’s bank now owes the card machine
bank money.
6. The user’s bank wire transfers the owed amount to the card machine’s
bank.
7. The transaction is now complete.
Credit / Debit Card Processing
• Customer Puts their card into the machine and enters the pin
• The card machine checks the pin entered against the stored pin
• The card machine contacts the issuing bank via the internet /
telephone and requests authorisation for the transaction.
• If the transaction is authorised, and authorisation code is issued.
• The issuing bank deduct the funds from the cardholder’s account
and sends an electronic funds transfer to the card machine
operator’s bank
Computer Processing of cheques
The money sender takes a cheque from a cheque
book and writes a cheque. The data written include:
1. The cheque amount
2. The recipient’s name
3. The date(most cheques are valid for 6 months
from the date of issue)
4. The recipient takes the cheque to their bank.
cont 5. The bank then request and authorisation for the funds from the
money sender’s account(this step is known as clearing)
6. If there are sufficient funds in the sender’s account and the
cheque is valid, the money’s senders bank clears the cheque
and sends the funds to the recipient’s bank.
7. Once the recipient’s bank receives the funds, it transfers the
funds to the recipient’s bank account.
8. This whole process usually takes up to 5 working days.
Disadvantages of cheques
• The is a long time delay between issuing a
cheque and the money clearing. Most
companies will not issue goods or services
until the cheque has cleared, so it creates
problems with time critical services such as
flights.
Phone Banking
• Customers can use phone banking to perform similar functions are
those which can be complete using face-to-face or online banking.
These include:
• Querying transactions and account balances
• Sending funds
• arrange overdrafts
• Paying bills
• Requesting a written statement
• Phone banking is very useful for those people who don’t have, or
don’t trust online banking, as it allow them access to their bank
account when banks are closed ( such as evenings, weekends and
bank holidays)
Internet Banking / Mobile Banking
• Internet banking (via a web browser) and mobile
banking(via an app), allow customers to perform a
number of functions that used to be reserved for face-to-
face banking.
Disdvantages
• Phishing is possible
• 24 /7 Access • Large amounts of
• Can access on the branch closures and
go using banking unemployment
apps • Glitches and crashes
can mean that some
people can’t access
their money
Kahoot review
