BEN
EPISODE 2: 1
SKIP TO QUIZ
RIO
AMBER
OBJECTIVES
You will have a better understanding of how bank accounts work and how they can help you manage your money
EPISODE 2: 2
You will have a better understanding of financial products and services
learning
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FILM
.
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TOOLKIT
Promotion at work!
the
Healthy eating
Monthly budget check
ACCOUNT?
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which
5
Another type of payment card is a credit card. This is a way of borrowing money, you will receive a bill each month and if you do not pay the balance in full you will be charged interest.
2
DIRECT DEBIT
CREDIT CARD
6
4
DEBIT INTEREST
A short-term way of borrowing money through your bank account is by having an overdraft. If you spend more than you have agreed you will be charged debit interest and an unarranged borrowing fee.
INTEREST
STANDING ORDER
If you open a savings account, you will be paid credit interest on any balances that you have.
1
ONLINE BANKING
Having a current account will assist you with managing your finances by allowing you to pay your bills by direct debit and standing order or online banking.
To use any type of payment card you will require a PIN that must be confidential and not shared with anyone
WRONG!
OVERDRAFT
3
PIN
DEBIT CARDS
There are several different types of plastic cards that allow you to make payments. Debit cards deduct any spending directly from your bank account using money that you already have.
CREDIT INTEREST
UNARRANGED BORROWING FEE
NEXT SENTENCE
CURRENT ACCOUNT
FACTS
EPISODE 2: 7
Savings account Current account ISA Student account Packaged bank account
NAME TWO TYPES OF PERSONAL BANK ACCOUNT
EPISODE 2: 8
question 1
question 2
yourstudentmoney.co.uk
WHERE CAN YOU FIND OUT INFORMATION ON LIFE AS A STUDENT?
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question 3
EPISODE 2: 10
WHICH CARD ENABLES YOU TO TAKE OUT MONEY DIRECTLY FROM YOUR BANK ACCOUNT?
Debit card
EPISODE 2: 6