Bank v Cash Transaction

Paid for groceries from bank account

• DR - cash transaction

• CR - cash transaction

• DR - bank transaction

• CR - bank transaction

Received child benefit into bank account

• DR - cash transaction

• CR - cash transaction

• DR - bank transaction

• CR - bank transaction

Donated cash for charity cycle

• DR - cash transaction

• CR - cash transaction

• DR - bank transaction

• CR - bank transaction

Took cash out of the ATM

• DR Cash

• CR Cash

• DR Bank

• CR bank

• DR Cash, Credit Bank

Money going out is shown on the __________ side

• Debit

• Credit

Match correct answer:

An electronic payment card used for making payments directly from your current account

• Cheque

• Paypath

• Standing order

• Debit card

Match correct answer:

A method of having your wages paid directly into your bank account

• Cheque

• Paypath

• Standing order

• Debit card

Match correct answer:

A means of transferring a fixed amount of money on a regular basis to another person or organisation

• Cheque

• Paypath

• Standing order

• Debit card

True of False:

Overdrafts allow a current holder to withdraw more money than they actually have in their account

• True

• False

True or False:

Wages and salaries cannot be paid automatically into a current account

• True

• False