Commercial Banks
Name 2 examples of commercial banks
AIB and BOI
What is the exchange rate?
The quantity of a foreign currency given in exchange for one euro.
What is online banking?
The management of finances using the internet.
What does An Post do?
What is the most common colour toilet paper in France?
Pink
What is a current account?
An Account that is used for day- to - day transactions. Records money in and money out
If I am changing Euro into a foreign currency how would I do it? What calculation
Multiply the euro by the we sell rate for the foreign currency
Name 3 things that an online account can allow a person to do...
Check Balances, open a savings ac, Transfer funds
What does ECB stand for
The European Central Bank
What is Scooby Doo’s full name?
Scoobert Doo
Name 3 different ways I can withdraw money from a current account
Debit Card, Standing Order, Direct Debit, Bank Draft, Cheque
If I am changing foreign currency into euro, how would I calculate it?
Divide the foreign currency by the we buy rate.
What is online banking also known as...
A credit union is a co-operative financial institution owned by the people who save with and borrow from it.
What is the collective noun for a group of unicorns?
A blessing
What is a direct debit? Give an example
An agreement between the bank and the account holder that allows a variable amount to be taken from an account to pay a bill. Eg ESB
Jack is going to Australia. He wants to exchange 1000 for Australian dollars. The we sell rate on the day he visits the bank is 1.5. How many dollars will Jack receive??
1000x1.5 = 1500 dollars
What does www. stand for?
World Wide Web
The __________ __________ _ ___________ is responsible for looking after the interests of financial service consumers in Ireland.
The average person does what thirteen times a day?
Laughs
What is an overdraft?
Is permission to withdraw more money from a current account than is in the account.
Mary returns home from holiday in the US. She wants to change her 200 US dollars back to Euro. The we buy rate is 1.48. How much euro will she receive?
200/1.48 = 135.13 euro
When creating an online password, what should you include in your password? 3 things
Capital letter, symbol, number
A credit union is a _____ _____ _______ financial service provider that is owned by its members.
Not for profit
Coprastastaphobia is the fear of what?
Constipation