Financial Services

The main financial institutions operating in Ireland are:

• Ulster Bank, AIB, Bank of Ireland and KBC

• Commercial Banks, Credit Unions, Building Societies, An Post

• Credit Unions & Banks

• storing their money, managing payments and providing loans

What is a Financial Institution?

• A financial institution gives people cards

• It is an ATM

• A financial institution gives people money

• A financial institution provides financial services for its customers, including storing their money, managing payments and providing loans

Commercial banks are also called ______ banks as they provide financial services to the general public and to businesses.

What kind of services do banks offer to customers?

• Current Account

• Bill Payments or money transfers

• Credit Cards

• Weekly phone-calls to discuss your bank statement

• Foreign Exchange Services

A current account is used for __________ transactions.

A deposit account is also called a _____ account.

When opening a current account you must provide

• PPSN

• Birth Certificate

• Proof of Identity (Photo ID)

• Proof of Address

• Application Form

Amounts taken or paid out of accounts are known as lodgements.

• True

• False

Amounts paid out or taken out of an account are known as withdrawals

• True

• False

List 3 ways a lodgement can be made....