WHO WILL LOOK AFTER MY MONEY? Banking PowerPoint Money Works: Level 1 Topic 1.

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Presentation transcript:

WHO WILL LOOK AFTER MY MONEY? Banking PowerPoint Money Works: Level 1 Topic 1

BUILDING SOCIETIES Banking PowerPoint Money Works: Level 1 Topic 1 2

‘High Street’ Banks Banking PowerPoint Money Works: Level 1 Topic 1 3

CREDIT UNIONS Banking PowerPoint Money Works: Level 1 Topic 1 4

WHAT SORT OF ACCOUNT DO I NEED? Banking PowerPoint Money Works: Level 1 Topic 1

BASIC BANK ACCOUNT For managing day-to-day money. Allows you to receive money, e.g. ages or benefits. Can pay bills by direct debit. You will usually get a cash card (ATM card) but not always a debit card. Question: What is the difference between a cash card and a debit card? Banking PowerPoint Money Works: Level 1 Topic 1 6

CURRENT ACCOUNT Also for managing your day-to-day money. More features than a basic bank account. Usually comes with a cheque book and guarantee card, and a debit card. May allow you to have an overdraft and a credit card. Question: What is the difference between an overdraft and a credit card? Banking PowerPoint Money Works: Level 1 Topic 1 7

SAVINGS ACCOUNT For putting away money that you’d like to save, e.g. for a holiday or an emergency. The bank pays you interest on the money in your account. Question: What is interest? Banking PowerPoint Money Works: Level 1 Topic 1 8