Finacial services

Question 1

Current Accounts

Answer 1

Is used for day to day banking needs

ex Recieve income store money

Question 2

Lodgments

Answer 2

Leave money in a safe place amount paid into the account known a s lodgement

Question 3

Withdrawels

Answer 3

Amount paid out of the account

Question 4

ATM

Answer 4

Automated teller machine

Question 5

Debit cards

Answer 5

Allows consumers to pay for goods and services without cash

Question 6

Contactless payment

Answer 6

A faster way to use a debit card to pay for items that cost 30 euros without using yourr pin

Question 7

DD

Answer 7

Direct debit.It’s used when the amont to be paid and the payment date are likely to change

Question 8

SO

Answer 8

Standing order is an intruction to a finacial institution to pay a fixed amount to a specific person or organsitation on a certain date

Question 9

Deposit account

Answer 9

offer a wat of saving while earning intrest.Money deposit accounrs is safe and secure

Question 10

Credit ccards

Answer 10

Buy now pay later .

Question 11

Name 3 loans

Answer 11

short term loans-repaid within one year e.g bank overdraft
Medium term-repaid between one year and five years
long term loans-repiad longer then 5 years-mortage