Bank Transactions

Which of the following is considered a bank transaction?

• Buying groceries

• Withdrawing money from an ATM

• Watching a movie

• Playing online games

A savings account is best suited for:

• Long-term investments in stock market

• Safe-keeping of money while earning small interest

• Borrowing money from the bank

• Daily business transactions

What is the main purpose of a current account?

• For students to save money

• For individuals who want high interest rates

• For business people who need frequent deposits and withdrawals

• For buying goods on credit

Which of the following documents is used when putting money into a bank account?

• Withdrawal slip

• Deposit slip

• Bank statement

• Passbook

When preparing a withdrawal slip, which information is usually required?

• Name of depositor, account number, amount to withdraw, and signature

• Only the account number

• The name of the bank manager

• The branch code only