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Banking
Term | Definition |
---|---|
Saving/Deposit Account | This is an account for customers who want to save money. Interest is paid each year on the balance in the account. Money can be withdrawn from the account using the ATM or by filling in a ''withdrawal form'' in your bank branch. |
Current Account | This is an account for people who need to pay bills and other expenses on a regular basis. Money can be transferred from a current account using: a cheque, laser card, standing order, direct debit. Money can be withdrawn from ATM or by filling out a form. |
Online/24hr Banking | Banking over the telephone or on the internet, 24hrs per day, 365 days per year. Facilities include: Checking your account balance, transfer money between your accounts, or other accounts. |