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Banking

Junior Cert Banking

QuestionAnswer
What is a direct debit A direct debit can be used to make a regular payment where the amount changes each time, e.g. the electricity bill
Standing order A standing order can be used to make a regular payment where the amount is the same each time e.g loan
Bank giro credit transfer A bank giro credit transfer is used to make a single payment to another person through the bank
Paypath Paypath is used by employers to transfer the wages of their employees directly into their bank accounts each payday
Cheque A written instruction to your bank to pay a sum of money to another person.
Forms of money Notes and coins, cheques, credit cards, debit cards
Tax on savings DIRT
Collateral Security for a loan
Machine to withdraw money - also called hole in the wall ATM
 

 



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