Current Accounnt

Question 1

ATM

Answer 1

Automated teller machine

Question 2

Debit
Card

Answer 2

Card where the money comes straight out of your bank

Question 3

Contactless
Payment

Answer 3

Can tap your card on goods

Question 4

Cheque

Answer 4

Paper slip that tells the bank to take money out of your account and put it into someone else’s

Question 5

Credit
Transfer

Answer 5

Allows you to transfer money from
your own bank account to another person’s bank account

Question 6

Bank
Draft

Answer 6

A written document that tells the bank to pay a stated
sum of money to a named person.
● It is written by the bank and guaranteed not to bounce as you pay the
money in advance.
● It is a common way to pay for expensive items like cars and houses.

Question 7

Paypath

Answer 7

A way for your wages and salary to be paid straight to your account

Question 8

Overdraft

Answer 8

t: This is permission to withdraw money for more
than the balance of money in your current account. Only
up to a certain limit.

Question 9

PayPal

Answer 9

A safe way to pay online without giving your bank details

Question 10

Standing
Order Standing

Answer 10

is a planned automatic
payment to pay a regular fixed amount of money
from your bank account to a stated person’s bank account on specific dates/fixed time.

Question 11

Direct
Debit

Answer 11

a planned automatic payment
to pay a variable amount of money from your
bank account to a stated person’s account at any
time.

Question 12

Bank
Statement

Answer 12

This is a document issued by the bank that
shows you the money coming in and out of your current
account. These can be paper or electronic statements

Question 13

Online
Banking

Answer 13

Banking online

Question 14

Digital
Wallet

Answer 14

Being able to pay using your phone