North American Product Classification System (NAPCS) Canada [Provisional Version 0.1]
52 - Financial and insurance services
522001 - Account and cash management products
522001.1 - Account and cash management products
Money management services, provided to customers by means of deposit accounts, such as chequing, saving and time accounts, and specialized cash management services that enable businesses to handle cash, transfer monies, and in general make and receive payments.
522001.1.3 - Document payment products
Services that provide documents that can be used as payment instruments, such as money orders, traveller's cheques and letters of credit. Includes services of certifying cheques.
522001.1.3.1 - Cashier's and certified cheque products
Services that provide a cheque with a guarantee of payment from a bank, either because the cheque is drawn on the bank by the bank itself (cashier's cheques) or because a deposit account cheque is certified by the bank, so that the cheque becomes an obligation of the bank, and is paid out of bank funds (certified cheque).
522001.1.3.2 - Money orders
Services that provide money orders, a form of negotiable instrument calling for the payment of money to the named payee.
522001.1.3.3 - Travellers' cheques
Services that provide travellers' cheques, which are negotiable instruments sold in set denominations, in various currencies, paid in advance, with a guarantee of replacement by the issuing institution if lost or stolen.
522001.1.3.4 - Letters of credit
Services that provide documents that guarantee payment of a specific amount of money, by a bank (issuing institution) to a third party, if certain conditions are met.
522001.1.3.5 - Other document payment products
Services that provide documents that can be used as payment instruments, other than cashier's cheques, certified cheques, money orders, traveller's cheques and letters of credit. Includes cheque cashing services.
- Date modified: