1. Personal Banking and Commercial Banks
© Annie Patton

2. The Role of The Bank Current Accounts Deposit Accounts
Payment Services- e.g. Direct Debit/Standing Orders
ATM Machines
Loans
Internet Banking
Night Safes
Foreign Exchange

3. Name some of the banks in Navan and around Ireland that you are familiar with?

5. How Banks Operate
Banks normally talk about two types of interest, that they give people with money in the bank and that they charge people who have loans from them
So banks borrow from savers and give them a lower rate of interest, than they charge those who have taken out loans from them
This is how they make some of their profits

6. How Banks Operate Takes in savings Gives out loans
Will charge a higher rate of interest on the loans they give out

7. Opening a Bank Account You must complete an application Form
Provide Proof of Identity- ID and Address
Get a reference from somebody known to the bank- usually this will be another account holder/school
Job Title- Employed/Unemployed
Provide a sample signature

8. Two Types of Account
Current account: You are given a cheque book and can withdraw money from the ATM, however you do not earn interest. There is normally a charge for each transaction, and you may be entitled to an overdraft. You can also get paid wages into your current account (Paypath).
Deposit account: This is a savings account. You get interest on money saved, and you pay DIRT on your savings. There is no cheque book, debit card and you cannot use the hole in wall

9. Lodging Money to a Current Account
Name and Address of Account Holder
Account Number
Amount being lodged
Signature of Person lodging the money
Date of Lodgement

10. Lodging Money in a current account

11. Withdrawing from Current Account
Cheque
ATM Machine
Chip and Pin (including cash back at till)
Direct Debits and Standing Orders transfer money from your account automatically to pay bills
Filling a withdrawal slip in a bank

13. Cheques The person, who writes the cheque is the Drawer
The person, to whom the cheque is written to is called the Payee
The bank that the drawer has their account in is called the Drawee

14. Filling in a Cheque

15. Bank Overdrafts
One cannot withdraw or write cheques for more than they have in their accounts unless they have special permission to do so called an Overdraft
Special permission has to be sought to get this privilege

16. Night Safes Can deposit cheques and lodgements after hours
The door is located on the outside and the customer has a key to a shoot that they open and deposit money
The bank clerk gets the money the next day

17. ATM
Most banks now allow one to withdraw money 24 hours per day 365 days per year, using a machine placed outside the building
The machine is known as an ATM (Automatic Teller Machine)
You can also pay bills electronically, buy phone credit, order statements etc..

18. 24 Hour Banking Monitor accounts Search payment history
Credit Transfers
Get online bank statements
Set up standing orders and direct debits

19. Foreign Exchange
Exchanging currencies in a bank There is a ‘we buy, we sell’ rate that the bank operates

20. Currency Exchange Rule
To change euro into foreign currency, multiply euro by we sell
To change a foreign currency back to euro, divide by we buy