Personal Banking & Current Accounts Key Concepts
1. List six services available to a person with a current account. 2. List three things you can do with an ATM card.
3. Briefly explain (a) the purpose of a debit card and (b) how a consumer can use it.
4. Explain the difference between a standing order and a direct debit. 5. Explain what is meant by a credit transfer.
6. (a) List two ways of lodging money to a current account. (b) List four ways that money can be withdrawn from a current account.
7. (a) What is online banking? (b) List three things you should ensure when banking online.
Critical Thinking Skills
1. (a) You have been given e100 to convert in the following currencies. If the exchange rates are as follows, calculate how much of each of the foreign currencies you will get for your money.
2. You have been given a present of some foreign currency and want to convert it into euro. If the exchange rates are as follows, calculate how many euro you will get for the foreign currency.
sterling US dollar Japanese yen
We Buy We Sell 0.80 1.45
0.65 1.20
180.00 140.00
£100 sterling buys ________________________________________ euro $100 US dollars buys _____________________________________ ¥1000 yen buys ___________________________________________ euro
