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. 

Experienced:

• Take part in a discussion about some of the benefits and disadvantages of using a credit union for managing personal finance and savings.