Money

1

• Money Banking 2

2
Cheques

• Current account holders can use it to make
  payments.
• Written permission to a bank to pay someone a
  certain amount of money.
• Safe
• Record (Stubb)

3
Cheque Guarantee Card

• Given to creditworthy customers.
• Guarantees payment of cheque up to
• 130
• Identity card.

4
Bank Draft

• If you dont have a cheque book
• You can buy a cheque from the bank
• Safe
• Record

5
Standing Order (SO)

• Current account customers
• Give permission to a company
• To withdraw a fixed sum
• On a fixed date
• Eg. Insurance premium

6
Direct Debit (DD)

• Current account holder
• Instructs the bank
• To pay a variable amount
• to a company.
• Time may vary also
• Eg. ESB bill

7
Bank GiroCredit Transfer (CT)

• Dont need a current account
• Can transfer money to another persons account
• Fill out form and pay a fee

8
Paypath

• Paying wages directly
• into an employees
• bank account
• Safer
• Quicker
• Reduces impulse buying

9
Plastic Cards

• Make payment without using cash or cheques
• Visa, Access, Master Card, ATM,
• Smart Card

10
Postal/Money Order

• A written statement from one post office to
  another asking it to pay a certain sum to a named
  person
• Pay a small fee
• Safe

11
Registered Letter

• Pay post office a small fee
• Letter will only be given to person to whom it is
  addressed
• That person must sign for letter
• Very safe

12
How might you pay the following?

• Telephone bill
• Birthday present to USA
• Cash payment by post
• Life assurance premium
• College fees
• Weekly shopping
• Petrol