Who will look after my money?

Banking PowerPoint Money Works: Level 1 Topic 1

Building societies

Banking PowerPoint Money Works: Level 1 Topic 1

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‘High Street’ Banks

Banking PowerPoint Money Works: Level 1 Topic 1

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Credit Unions

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What sort of account do I need?

Banking PowerPoint Money Works: Level 1 Topic 1

Basic bank account

• For managing day-to-day money. • Allows you to receive money, e.g. ages

or benefits.• Can pay bills by direct debit. • You will usually get a cash card (ATM card)

but not always a debit card.

Question: What is the difference between a cash card and a debit card?

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Current account

• Also for managing your day-to-day money. • More features than a basic bank account. • Usually comes with a cheque book and

guarantee card, and a debit card.• May allow you to have an overdraft and a

credit card.

Question: What is the difference between an overdraft and a credit card?

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Savings account

• For putting away money that you’d like to save, e.g. for a holiday or an emergency.

• The bank pays you interest on the money in

your account.

Question: What is interest?

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