1. Money Matters
Key Stage 3
Banks and banking

2. What are the advantages and disadvantages of having a bank or building society account?
Easy access to your money
You need ID to open an account
You can earn interest on your money
Having a bank account means that you are traceable
You can get your salary or benefit paid into your account
When your money is in the bank you can not control how the bank uses your money
You can access other facilities of a bank including overdraft, cheques, statements
Your money is not immediately accessible especially if you lose your card

3. Store, Save, Spend – Banks and me
How do banks and building societies help us manage our money?
Spend
Save
Store
REF 1B: On each click the bank service will move to the corresponding box above.
What type of services do banks and building societies offer?
Withdraw cash from machines so we have money to spend
Pay for bills directly
Pay for goods in store using a card or cheque with money from our account
Help us keep track of our money
Keep our money safe in bank accounts
Pay interest on our savings
Help us build up our money to buy something
Make payments to other people

4. What do banks and building societies do?
True or False Quiz
They will ask you to give proof of your identity when you open an account
They help people who get into debt
They charge interest if they lend you some money X
They will lend money to people under 18
They can close your account without letting you know X
They provide services over the internet
They will tell you what information they have about you on their computers
They will lend you money to buy a house

5. X X X X What do banks and building societies do?
True or False Quiz – Additional Questions
They only pay interest to people who have banked with them for at least one year X X
They only look after your money if you have a certain level of income X X
They will lend money to people under 18
The banks and building societies on your high street will print bank notes
They will help you to manage your money
They give advice to large businesses
People who work for banks and building societies can take as much as they want out of cash machines
They send their customers regular statement s about the money in their accounts

6. Which of these banks and building society’s logos do you recognise?

7. Which of these banks and building society’s logos do you recognise?
Metro
Lloyds
Royal Bank of Scotland
Santander
Principality Building Society
HSBC
Halifax
Nationwide
Barclays

8. 3 4
Paid out 8

9. Bank Statement – banking terms
Sort code
Account Number

10. Paid out
Opening balance
Paid In
Cheque
Cashpoint
Closing balance 10

11. Today we have learnt…
How banks and building societies work and how to interpret relevant financial paperwork
To assess banking services against our needs and make choices about which is best for us
To appreciate that making informed choices about financial services and products will help us manage our money more effectively