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What is a financial institution?
An organisation that provides financial services.
Name one commercial bank in Ireland.
AIB / Bank of Ireland / Permanent TSB / Ulster Bank (any one)
What type of account is used for everyday spending?
Current account.
What card allows you to withdraw money from an ATM?
Debit card.
What is a cheque?
A written instruction to the bank to pay money to someone.
Is a standing order a fixed or variable payment?
Fixed payment.
What is a direct debit?
A variable payment taken from an account to pay a bill.
What is an overdraft?
Permission to withdraw more money than is in your account.
What is a mortgage?
A loan used to buy property such as a house.
What is interest?
The cost of borrowing money.
What financial service allows customers to check balances and pay bills online?
Online banking.
Who owns a credit union?
Its members.
Is a credit union for profit?
No, it is not-for-profit.
Name one financial service provided by An Post.
Savings / loans / current accounts / foreign currency (any one).
What does a building society mainly provide?
Mortgages and savings services.
What is foreign currency exchange?
Changing one currency into another
