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business chap6
| Question | Answer |
|---|---|
| financial institution | somewhere that provides financial services for its customers, including storing their money, managing payments and providing loans |
| examples of financial institutions | commercial banks, credit unions, the post office |
| commercial bank | a bank that offers financial services to the general public and to businesses |
| examples of commercial banks | aib, bank of ireland, ptsb |
| lodgements | amounts of money paid into your account |
| withdrawal | amounts of money taken out of your account |
| paypath | transfer of wages or other payments directly into an employee's bank account. |
| atm | automated teller machine |
| pin | personal identification number |
| debit card |