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Commerical banks
Junior Cert Business Studies
| Term | Definition |
|---|---|
| Savings/Deposit Account | This is an account for customers who want to save money. |
| Interest | This paid each year on the balance in the account. |
| ATM (Automated Teller Machine) | Money can be withdrawn from the account. |
| Cheque | Money can be lodged to the account by filling out a lodgement slip in your local bank branch. |
| Current Account | This is an account for people who need to pay bills and other expenses on a regular basis. |
| Money Transfers | Money can be transferred from a current account using:a cheque, laser card, standing order or direct debit. |
| Current Account | Money can be withdrawn from the account using the ATM or by filling in a “withdrawal form” in your local bank branch. Money can be lodged to the account by filling out a lodgement slip in your local bank branch or it can be transferred in electronically. |
| On-Line/24 Hour Banking | Banking over the telephone or on the internet, 24 hours per day, 365 days per year. |