B2

Question 1

What is a branch?

Answer 1

Buildings on the high street where customers interact face to face with clerks to complete over the counter transactions of using ATMs.

Question 2

What are the advantages of branch’s?

Answer 2

• Clerks can offer advice and reassurance

- Transactions can be carried out immediately

Question 3

What are the disadvantages of branch’s?

Answer 3

• You can only visit the branch during opening hours which may be inconvenient.
• Customers might have to queue to carry out their financial transactions.

Question 4

What is online banking?

Answer 4

The use of the internet to carry

out financial transactions.

Question 5

What are the advantages of doing online banking?

Answer 5

• Online banking can be carried out 24/7 which is convenient.
• It is private.

Question 6

What are the disadvantages of doing online banking?

Answer 6

• It can take time to set up an online facility
• You can’t withdraw cash
• There may be limited facilities

Question 7

What is telephone banking?

Answer 7

Using the telephone to carry out

financial transactions.

Question 8

What are the advantages of doing telephone banking?

Answer 8

- Telephone banking is convenient
for example for checking your
balance.
- There are no charges for this
service

Question 9

What are the disadvantages of doing telephone banking?

Answer 9

• You might not be able to carry out
  certain transactions.
• You may only be able to call during
  certain hours.

Question 10

What is mobile banking?

Answer 10

Using a mobile device to carry out financial transactions.

Question 11

What are the advantages of doing mobile banking?

Answer 11

• This is convenient and available 24/7

- There are no additional charges

Question 12

What are the disadvantages of doing mobile banking?

Answer 12

• You have to download apps onto
  your phone
• There is a high security risk of
  fraud if phone is lost

Question 13

What is postal banking?

Answer 13

Using the postal service to carry out paper-based financial transactions.

Question 14

What are the advantages of doing postal banking?

Answer 14

• This is a method older people might be comfortable with

- You don’t need technology to carry out financial transactions

Question 15

What are the disadvantages of doing postal banking?

Answer 15

• The postal system can be slow

- There is a risk of post being lost.