4.4 Monotoring Transactions

Question 1

Why check current accounts

Answer 1

• See if they have sufficient money to pay due transactions
• seee if keeping to budget
• check for mistakes

Question 2

Statements

Answer 2

Use to monitor transactions

Question 3

Statement abbreviations: dc

Answer 3

Direct credit

Question 4

Statement abbreviation : bacs

Answer 4

• Central payment system
• Process several different types of electronic payment, especially direct credits
  or bgc bank bank giro credit

Question 5

Direct debit abbreviations

Answer 5

DDR
DD
BD

Question 6

Cheques on statements

Answer 6

• appear as the number of the cheque
• Important to write the details of the payee on their cheque books to see where money went