Learning aim B

This is the UK’s central bank that ensures the financial stability of the UK.

• Bank of England

• Banks

• Building society

• Insurance Companies

A member owned financial cooperative, controlled by its members and operated on the principle of people helping people, providing its members credit at competitive rates as well as other financial services.

• Bank

• Bank of England

• Credit Union

• Insurance Company

A benefit of pensions is?

• Usually need to give notice of withdrawals

• Quick way of getting cash

• Interest charged is very high

• It is a structured way to plan your retirement.

What is a problem of a pay day loan?

• Tax benefits

• Interest is charged at a very high rate

• Structured way to plan for retirement

• Poor investment may lead to a poor payout

P (a)   loan money to individuals and secure this loan against an asset.

This type of banking is where transactions are carried out face to face. Customers visit.

• Mobile

• Telephone

• Postal

• Branch

O (a)   or mobile banking can have its problems, it back to be subject to hacking.

Mobile and online banking is very c (a)   to use.

A problem with postal banking is that it takes more time.

• True

• False

Where might you see an automated service?

• Branch banking

• Online banking

• Telephone banking

• Postal banking