Example: Fiona Foley wants to withdraw e500 from her current account. This is more than an ATM will allow so she fi lls in a withdrawal slip in the bank and hands it over the counter to the cashier.
ABC Bank Withdrawal Branch
IBAN: Account name: Address:
Received the sum of: e Date
Signed
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Using a debit card to pay for a purchase in a shop. The money in your account will be electronically transferred across to the retailer’s account. Using a debit card, you can also request ‘cash back’ from retailers. Debit card ‘cash back’ is a service whereby an amount is added to the total purchase price of a transaction paid by debit card and the customer receives that amount in cash from the retailer along with the purchase.
Example: A customer who purchases e16.95 worth of groceries at a supermarket might ask for e30 cashback. The customer pays a total of e46.95 (e16.95 + e30)
with their debit card and in return receives e30 in cash along with their goods. This can be more convenient for customers than having to use an ATM machine.
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Using direct debits and standing orders to transfer money automatically out of your account on certain dates to pay certain bills.
Using credit transfers either online or in the bank to transfer money into someone else’s account.
Writing a cheque and giving it to someone else to lodge to their account. The money will leave your account only after the other person has lodged the cheque to their account.
