Chapter 8: Introduction To Comercial Banks

Question 0

What does ATM stand for

Answer 0

Automated teller machine

Question 1

What does DIRT stand for

Answer 1

Deposit interest retention tax

Question 2

What does PIN stand for

Answer 2

Personal identification number

Question 3

What does IBAN stand for

Answer 3

International bank account number

Question 4

Name 4 commercial banks in Ireland

Answer 4

1. AIB
2. Bank of Ireland
3. Ulster bank
4. Permanent TSB

Question 5

What are the differences between a current account and a deposit account

Answer 5

1. No interest is earned on a current account but interest is earned on a deposit account
2. Overdraft facility with the current account but no overdraft facility on a deposit account
3. Checks LaserCard facilities with the current account but no checks or LaserCard facilities with a deposit account

Question 6

What are the requirements when opening a bank account

Answer 6

1. Filling in an application form
2. provide proof of address by supplying a recent household bill
3. provide proof of that entity is supplying a jar of his life passport this
4. provide sample of your signature

Question 7

Was are the uses of an ATM card

Answer 7

1. Lodge or withdraw money to account.
2. Transfer money between accounts.
3. Check the balance.
4. Top up their Merit mobile phone.