4.1 Choosing a Current Account Flashcards
1
Q
Most adults use what type of account
A
Current account
2
Q
Everyday banking needs
A
- Receiving payments
- storing money for short periods of time
- making payments
- accessing cash
3
Q
Age to have the ability to get an overdraft
A
18
4
Q
Young people (current accounts)
A
Main requirements:
- store money
- withdraw cash
5
Q
How to choose a current account
A
Look for one that fits their everyday needs
6
Q
Current account fees
A
- some free to use as long as account is in cedit
- pay fee for extra services
7
Q
Current accounts available from :
A
Banks
Building societies
Retailers
8
Q
Current accounts - statements
A
- Regular
- Online or on Paper (unpopular)
- Enable people to monitor their transactions
