Unit 1 topic 4

  • Created by: ruyb
  • Created on: 05-03-18 12:56
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  • Unit 1 topic 4
    • Types of current account
      • basic account
        • for people on benefits and low incomes
        • can't go into any debt
          • doesnt have a debit card
        • cash cards and prepaid card
        • used for financial inclusion
      • youth accounts
        • for under 18's
        • services vary depending on account
      • standard accounts
        • offer a large range of services
        • debit card & cheque book
        • most common account
      • student and graduate accounts
        • low or no interest overdraft
        • only available for students
      • interest paid when in credit
        • pay interest on credit balances
        • expensive overdraft
      • joint accounts
        • held by two or more people
        • if account is overdrawn alll parties are responsibe
      • packaged accounts
        • exara benefits for a fee
        • insurance, discounts, subscriptions
      • premium accounts
        • designed for wealthy customers
        • offer extra services for a fee
        • have to have a certain level of income to open one

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