Banking Statement Overview

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Questions and Answers

What is the outstanding principal balance as of the statement date?

  • $0.000
  • $134.588 plus interest
  • $134.588 (correct)
  • $134.588 plus fees

What is the monthly interest rate applied to this account?

  • 1.000%
  • 0.050%
  • 0.100%
  • 0.000% (correct)

What is the last date mentioned for the outstanding agreement?

  • 05JAN2025
  • 07JUN2025
  • 07MAY2025 (correct)
  • 05MAY2024

Which regulatory body oversees HSBC Bank Middle East Limited in Bahrain?

<p>Central Bank of Bahrain (B)</p> Signup and view all the answers

What is the total amount listed in the provided financial statement?

<p>$134.588 (C)</p> Signup and view all the answers

What is the closing balance stated in the document?

<p>188.765 (B)</p> Signup and view all the answers

What is the minimum payment amount due?

<p>36.916 (D)</p> Signup and view all the answers

Who is the cardholder listed in the document?

<p>Mr. Mohamed Mahmoud Mohamed Ibrahim (C)</p> Signup and view all the answers

What should be written on the reverse of the cheque?

<p>Card number (C)</p> Signup and view all the answers

What is the date by which the payment is due?

<p>30JAN2025 (A)</p> Signup and view all the answers

What is the total opening balance listed in the account statement?

<p>237.929 BHD (A)</p> Signup and view all the answers

What was the amount credited to the account on 25DEC?

<p>50.000 BHD (B)</p> Signup and view all the answers

What is the total amount charged for finance charges in the statement?

<p>0.836 BHD (C)</p> Signup and view all the answers

Which date corresponds to the statement date listed?

<p>05JAN2025 (B)</p> Signup and view all the answers

What is the credit limit assigned to this account?

<p>1,000.000 BHD (A)</p> Signup and view all the answers

What is the transaction detail associated with the finance charges?

<p>FIP 220016492900002 (D)</p> Signup and view all the answers

How many pages are in the account statement?

<p>2 (A)</p> Signup and view all the answers

What is the name of the card associated with Mr. Mohamed Mahmoud?

<p>Mastercard (C)</p> Signup and view all the answers

What is the balance after deducting the loan outstanding from the initial amount?

<p>BHD 54.177 (A)</p> Signup and view all the answers

What will be the amount debited from your specified account on January 30, 2025?

<p>BHD 36.916 (B)</p> Signup and view all the answers

What was the total Air Miles balance after earning additional miles?

<p>2,869 (A)</p> Signup and view all the answers

What is the new closing balance after the payments and debits?

<p>BHD 188.765 (D)</p> Signup and view all the answers

What is the current minimum payment due as stated?

<p>BHD 36.916 (B)</p> Signup and view all the answers

Which of the following reflects the opening balance amount?

<p>BHD 237.929 (D)</p> Signup and view all the answers

What is the total Air Miles balance after the earned miles are combined?

<p>2,869 (C)</p> Signup and view all the answers

What is the payment summary amount shown in the document?

<p>BHD 36.916 (A)</p> Signup and view all the answers

Flashcards

Credit Limit

The total amount of money that can be borrowed or spent using a credit card.

Statement Date

The date on which the credit card statement is generated and sent to the cardholder.

Posting Date

The date on which a transaction was posted to the credit card account.

Transaction Date

The date on which a transaction occurred.

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Transaction Details

The specific details of a transaction, including the amount, merchant name, and transaction ID.

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Amount

The amount of money spent or received in a transaction.

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Finance Charges

A fee charged for using a credit card, typically calculated as a percentage of the outstanding balance.

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Opening Balance

The balance on the credit card account at the beginning of the statement period.

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Minimum Payment Due

The amount of money you need to pay by a specific date for your credit card usage.

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Due By Date

The date by which you must pay your minimum payment to avoid late fees.

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Statement Closing Balance

The total amount you owe on your credit card account as of the date the statement was created.

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Issuer

The company that issued your credit card, in this case, HSBC.

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Payments/Credits

Payments or credits made to the credit card account during the billing cycle. These are the amounts that reduce your balance.

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New charges/debits

New charges or debits added to your credit card account during the billing cycle. These are the amounts that increase your balance.

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Closing Balance

The remaining amount owed on a credit card at the end of a billing cycle. This is the amount you need to pay by the due date.

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Payment Due Date

The date by which you need to make the minimum payment on your credit card to avoid late fees.

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What does 'Statement Date' on a credit card statement mean?

The date when the credit card statement was created and sent to the cardholder.

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What does 'Statement Closing Balance' on a credit card statement mean?

The total amount of money you owe on your credit card account at the end of the statement period.

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Who is the issuer of a credit card?

The company that issued your credit card.

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What does 'Outstanding principal balance' on a credit card statement mean?

The amount of money you still owe on your credit card after making a payment.

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What does 'Interest Balance' on a credit card statement mean?

The monthly interest rate charged on your credit card account.

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Study Notes

Account Statement Summary

  • Account Holder: Mr. MOHAMED MAHMOUD MOHAMED IBRAHIM
  • Account Details: 5455 9400 4663 2895, FIP 220016492900002
  • Statement Date: 05JAN2025
  • Opening Balance: BHD 237.929
  • Closing Balance: BHD 188.765
  • Credit Limit: BHD 1,000.000
  • Minimum Payment Due: BHD 36.916
  • Due Date: 30JAN2025
  • Air Miles Balance: 2,869
  • Bank: HSBC Bank Middle East Limited, Bahrain Branch

Payment Summary

  • Payment Slip: Customer service number and details for reporting lost/stolen cards are included.
  • Cardholder Name: Mr. MOHAMED MAHMOUD MOHAMED IBRAHIM
  • Card Number: 5455 9400 4663 2895
  • Payment Instructions: Make payable to "HSBC Cards", card number on reverse, return portion with cheque.

Additional Information

  • HSBC Bank Address: P.O. Box 57, Manama, Kingdom of Bahrain
  • Bank License: Licensed and regulated by the Central Bank of Bahrain as a Conventional Retail Bank in the Kingdom of Bahrain and lead regulated by the Dubai Financial Services Authority.
  • Account Currency: Bahraini Dinars (BHD)

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