EPISODE 2: 1
SKIP TO QUIZ
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
EPISODE 2: 3
EPISODE 2: 4
Promotion at work!
Monthly budget check
EPISODE 2: 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.
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.
If you open a savings account, you will be paid credit interest on any balances that you have.
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
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.
UNARRANGED BORROWING FEE
EPISODE 2: 7
Savings account Current account ISA Student account Packaged bank account
NAME TWO TYPES OF PERSONAL BANK ACCOUNT
EPISODE 2: 8
WHERE CAN YOU FIND OUT INFORMATION ON LIFE AS A STUDENT?
EPISODE 2: 9
EPISODE 2: 10
WHICH CARD ENABLES YOU TO TAKE OUT MONEY DIRECTLY FROM YOUR BANK ACCOUNT?
EPISODE 2: 6