GROUP ASSIGNMENT

CASH DEPARTMENT
Submitted by :
Ayesha zahid bsf1900929
Nabeeha Arshad bsf1901110
Umm-e-Farwa bsf1901261
Nasira Shahbaz khan bsf1901333
Fatima Zahid bsf1901058
Samia Sabir bsf1900963
Fatima Iqbal bsf1901046

Subject : Money and Banking

Program : BBA 5th semester
Shift : Evening
Session : 2019 – 2023
Submitted to :
Mam Abida Hafeez

University of Education
Bank road campus
Cash department :
Cash Department is one of the most important Departments in any Bank. It serves as a
centre-point for all other departments and without it no transaction can be done. Cash
Department can be considered as a reflector of Banks competency, credibility and its
trustworthiness. Cash Department, as the name suggests, deals with the cash that is either inward
or outward i.e. payment in cash by the customer or payment to customer in cash form, with
cheques and with receipts.
Cash Management in Allied bank :
The Cash Management team focuses on our Corporate customers’ need for Collections
and Payments across the country. Tailor- made products and transactional structures are
developed for customers as well as a host of MIS reporting options for receivables management
and handling of disbursements/ payouts.
Through our value added proposition, ABL’s cash management team strives to deliver the best
combination of services to corporate clients and their suppliers, dealers, vendors and employees
nationwide.Cash Management
The cash department, generally, performs the following activities:
· It collects the funds of government.
· It accepts the deposits of customers
· It collects the utility bills from relevant areas or surroundings.
· It collect fee from customer.
· It make loan to customer and allow customer to withdraw their cash.
· It make online transaction and also branch transaction.
· It provide digital banking system.

Cash deposits:
The deposit itself is a liability owed by the bank to the depositor. Bank deposits refer
to this liability rather than to the actual funds that have been deposited. When someone
opens a bank account and makes a cash deposit, he surrenders the legal title to the cash,
and it becomes an asset of the bank. In turn, the account is a liability to the bank.Saving
and checking accounts accept bank deposits OR In the world of finance, a cash deposit is
defined as money that is injected into a checking, money market or savings account, either
via money transfer, ATM machine or through a bank teller.
Many times, individuals are required to provide a cash deposit when renting an apartment or
other type of dwelling. This helps to guarantee that specific terms of a lease agreement are met
and protect the owner’s property from expensive costs associated with damage. Depending on
the terms of a lease, a deposit may also be used toward future rent payments.

In some cases, a landlord may place the cash deposit in an interest-bearing account. The interest
that it earns may then be paid to the renter on an annual basis. Once the occupant vacates the
unit, the money that he or she initially paid as a deposit is often returned, as long the move-out
conditions have been met.

Types of Bank Deposits

Current (Demand Deposit) Account
A current account, also called a demand deposit account, is a basic checking
account. Consumers deposit money and the deposited money can be withdrawn as the
account holder desires on demand.
These accounts often allow the account holder to withdraw funds using bank cards, checks, or
over-the-counter withdrawal slips. In some cases, banks charge monthly fees for current
accounts, but they may waive the fee if the account holder meets other requirements such as
setting up direct deposit or making a certain number of monthly transfers to a savings account.
Savings Accounts
Savings accounts offer account holders interest on their deposits.In some cases, account
holders may incur a monthly fee if they do not maintain a set balance or a certain number of
deposits. Although savings accounts are not linked to paper checks or cards like current accounts,
their funds are relatively easy for account holders to access.In contrast, a money market
account offers slightly higher interest rates than a savings account, but account holders face
more limitations on the number of checks or transfers they can make from money market
accounts.
Call Deposit Accounts
Financial institutions refer to these accounts as interest-bearing checking accounts,
Checking Plus, or Advantage Accounts. These accounts combine the features of checking and
savings accounts, allowing consumers to easily access their money but also earn interest on their
deposits.

Certificates of Deposit/Time Deposit Accounts

Like a savings account, a time deposit account is an investment vehicle for consumers.
Also known as certificates of deposit (CD), time deposit accounts tend to offer a higher rate of
return than traditional savings accounts, but the money must stay in the account for a set period
of time. In other countries, time deposit accounts feature alternative names such as term deposits,
fixed-term accounts, and savings bonds.

Cash withdrawal:
 A withdrawal involves removing funds from a bank account, savings plan, pension,
or trust. In some cases, conditions must be met to withdraw funds without penalty, and
penalty for early withdrawal usually arises when a clause in an investment contract is
broken.
How a Withdrawal Works:
A withdrawal can be carried out over a period of time in fixed or variable amounts or in one
lump sum and as a cash withdrawal or in-kind withdrawal. A cash withdrawal requires
converting the holdings of an account, plan, pension, or trust into cash, usually through a sale,
while an in-kind withdrawal simply involves taking possession of assets without converting to
cash.
Use an ATM:
If you have an ATM (Automated Teller Machine) card or debit card linked to your bank
account you can visit an ATM to withdraw some cash. Every ATM is slightly different but you
simply insert your debit card, enter your PIN (personal identification number), select the
account you wish to withdraw money from (if you have more than one), enter the amount and
then wait for the ATM to give you your cash and a receipt.Many ATMs only allow you to
withdraw money in multiples of twenty and there may be restrictions on the amount of cash you
can withdraw from an ATM and/or on a single day. Also, many banks allow you to withdraw
money from their ATMs for free but if you visit an ATM outside of your bank’s network (i.e. it’s
owned by a different bank or financial institution), you may be charged a fee.

Write a Check for Cash:

If you have a checking account, money market account of other type of account that offers
checks, you can fill out a check by entering “cash” in the payee line. Then present your check to
the teller at your bank along with your identification. If you have the funds available in your
account, the teller will give you the cash you are requesting. Be careful when entering “cash.” If
the check gets lost or stolen and ends up in the hands of someone else, it can be easily cashed,
and you could lose your money.
Fill Out a Withdrawal Slip:
If you don’t have checks associated with your account, you can go to your bank’s nearest
location and fill out a withdrawal slip. Be sure to fill in the date, the name on the account, and
the account number. If you don’t have the account number, a teller will be able to look it up with
your ID and/or debit card.Then enter the amount of cash you wish to receive.

Link Your Account to a Peer-to-Peer Payment Service:

The world is becoming more and more digital and that includes how we exchange money
with other people. Another way to access the cash in your account is by linking your account to a
third-party peer-to-peer (P2P) payment service such as Venmo or PayPal. These are increasingly
popular options for paying back your friend for that latte they picked up for your or the rideshare
service you shared last weekend. Just be sure you only use these services with people you know
and trust, use PINs to keep your account safe and secure, turn your account setting to private and
turn on notifications to keep an eye on activity related to your account.With a little bit of
practice, you’ll get the hang of withdrawing money from your account in no time.
Online transaction processing:
OLTP, or online transactional processing, enables the real-time execution of large
numbers of database transactions by large numbers of people, typically over the internet.A
database transaction is a change, insertion, deletion, or query of data in a database. OLTP
systems (and the database transactions they enable) drive many of the financial transactions we
make every day, including online banking and ATM transactions, e-commerce and in-store
purchases, and hotel and airline bookings, to name a very few. In each of these cases, the
database transaction also remains as a record of the corresponding financial transaction. OLTP
can also drive non-financial database exchanges, including password changes and text messages.
Characteristics of OLTP systems:
· Process a large number of relatively simple transactions.
· Enable multi-user access to the same data, while ensuring data integrity.
· Emphasize very rapid processing, with response times measured in milliseconds.
· Provide indexed data sets

· Are available 24/7/365

Examples of OLTP systems:
· ATM machines (this is the classic, most often-cited example) and online banking
applications
· Credit card payment processing (both online and in-store)
· Order entry (retail and back-office)
· Online bookings (ticketing, reservation systems, etc.)
· Record keeping (including health records, inventory control, production scheduling,
claims processing, customer service ticketing, and many other applications).
Digital banking servcies:
 Digital banking involves the digitization of all traditional banking products, processes and
activities to serve customers through online channels. This includes the following:

· Obtaining bank statements

· Cash withdrawals
· Funds transfers
· Checking/savings account management
· Opening deposit accounts
· Loan management
· Bill payments
· Cheques management
· Transaction records monitoring
With digital banking, all bank branch services are available 24/7 on mobile phones, computers
and compatible smart devices. Digital banking software makes all traditional services easier to
access, understand and manage.This approach allows banks to test lower risk concepts before
moving parts of the old legacy business to the new system.

Collection of Utility bill and fee:

A utility bill is a monthly statement of the amount a household or business owes for
essential services or utilities. Examples of utilities include electricity, water and gas. Depending
on how you define utilities, you could also add sewage and trash and recycling, as well as TV,
internet, phone and streaming services to that list.A utility bill lists the customer’s name, address
and account number. It also states the amount owed and due date, as well as guidance for how to
pay.Utility bills typically give information about your usage of the service, too. A water bill, for
example, would list the amount of water you used during the billing period and may show how
that amount has changed over the last several months.
Utility Bills Payment Service Allows You to Pay Your Utility Bills Conveniently and Securely.
You Can Avail the Service at ABL Branches, ATMs, myABL Digital Banking, myABL Wallet
and Phone Banking.Allied Bank facilitates you pay your utility bills by offering numerous
banking channels.DONATIONS TO THE SUPREME COURT OF PAKISTAN AND THE
PRIME MINISTER OF PAKISTAN DIAMER-BHASHA AND MOHMAND DAMS
FUND.On the directive of Hon’ble Supreme Court of Pakistan and the Prime Minister of
Pakistan, Allied Bank is accepting donations for the construction of Diamer-Bhasha and
Mohmand Dams. Choose as per your convenience, for the payment of following bills:
Utility
Telco
Student fees(FEE PAYMENT FOR BEACON HOUSE SCHOOL SYSTEM)
Credit Card
Internet Bills
Internet Shopping
Govt. Payments
Air Fare
Fertilizer
Insurance
Investments
eIPO
1Bill
Loan & Finances.
Bank Loan:
The loan is a feature provided by the bank to the customers who need financial assistance.A
bank loan is also termed as a bank advance.A Loan on Deposit is a cost-effective way to obtain
the cash you need to meet your financial needs. You can borrow against your BankFinancial
Certificate of Deposit for just about any purpose. And you can always count on competitive rates
along with flexible repayment options designed to make your life easier.The loan provided by the
banks will have simple or compound interest and time duration based on the type of loan.Some
of the loans availed from the bank will have tax benefits.The loan should be repaid along with
interest for the given time duration. If not, the accumulated amount will increase the repay
amount and time duration.The interest rate is fixed for the term of the loan. The rate for a loan on
deposit is indexed to the Certificate of Deposit rate that is being used as collateral. There are
many types of loans in the current market. Some of them are listed below:
Personal loan,Credit card loan,Home loan,Car loan,Small business loan,Overdraft,Cash
credit,Demand loans,Agriculture loan,Loan against credit card,Educational loan,Term loan,Loan
against insurance schemes,Loan against fixed deposits,Loan against mutual funds and share.
Types of cash used by bank:
There are four types of cash used by bank.
· storted cash(new currency)
· unsorted cash (old currency)
· re-issues cash (new currency)

· solided cash (old currency)

 Reference of bank :
https://www.google.com/search?rlz=1C1SQJL_enPK909PK909&sxsrf=APq-
WBvTry9rLu7ajqEANrjGLXmfxfF-
vg:1643393443803&q=allied+bank+islampura+address&ludocid=1437717975945232785&sa=
X&ved=2ahUKEwiZlsbThdX1AhXX7rsIHX0CC3QQ6BN6BAgmEAI41 Lower Mall,
Islampura, Lahore, Punjab 54000, Pakistan.

Manager of branch:
ZAIN MALIK

BANKING SERVICE MANAGER :

ALI RAZA