Banks

If you withdraw cash from your account it will be shown as a...

• Credit

• Debit

An overdraft is...

• Long term loan for large amounts of money

• Short term loan for small amounts of money

• Short term loan for large amounts of money

• Long term loan for small amounts of money

The bank will charge you a daily charge on your overdraft balance. True or false?

• True

• False

Banks store money and lend money. True or false?

• True

• False

Borrowers pay interest on their loans. True or false?

• True

• False

Savers earn interest. True or false?

• True

• False

Building society’s work like banks but they share their profits with the account holders. True or false?

• True

• False

Depositing money into an account will increase the balance. True or false?

• True

• False

Saving accounts that allow you to withdraw your cash whenever you want are known as what?

• Notice Accounts

• Instant Access

The BEST place to store money in your house would be...

• Under the floorboards

• In your back pocket

• In a piggy bank

• In a lockable box