financial institution

Question 1

financial institution

Answer 1

provide financial services for its consumers

Question 2

financial services

Answer 2

storing money
managing payments
providing loans

Question 3

types of financial institution

Answer 3

commercial bank
credit union
post office
building societyc

Question 4

commercial bank examples

Answer 4

aib
ulster bank
bank of ireland

Question 5

current account

Answer 5

used for day to day banking needs

Question 6

lodging into an account

Answer 6

lodging money
paypath

Question 7

paypath

Answer 7

employer transferring wages or salary directly into an account

Question 8

withdrawing from an account

Answer 8

atm
withdrawal slip
direct debit
standing order

Question 9

atm

Answer 9

automated teller machine

Question 10

direct debit

Answer 10

the financial istitution pays another account directly

Question 11

standing order

Answer 11

fixed amount agreed to be removed from an account on a certain date.

Question 12

branch

Answer 12

location

Question 13

bank overdraft

Answer 13

interest has to be paidb

Question 14

debit cards

Answer 14

allows consumers to pay for goods and services without using cash
is linked to your current account

Question 15

PIN

Answer 15

personal identification number

Question 16

internet and telephone banking

Answer 16

can paybills
check account balance and transfer money