Banking and saving
Outcomes to be accredited
In successfully completing this unit the student will have to:
Demonstrate the ability to:
- Identify at least three different bank accounts.
- List two types of plastic banking cards issued by clearing banks.
- Select an appropriate bank account for own use.
- Complete a standing order form correctly.
- Complete a given cheque correctly.
- Identify at least five entries on a bank statement correctly.
- Take part in an activity involving the use of an ATM and/or Chip & Pin machine.
Show knowledge of:
- Two advantages and two disadvantages of using an ATM and/or Chip & Pin machine.
- At least one advantage and one disadvantage of saving in a deposit account, an equity based investment and a credit union account.
- Take part in a discussion about some of the benefits and disadvantages of using a credit union for managing personal finance and savings.
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