Chp. 7 money and borrowing - created from Mind Map

ATMand PIN ATM PIN Aotomated Teller Machine Personal Identification Number

Forms Of Money barter cash cheques Laser card(debit card) credit card(mastercard,visa) charge card swapping notes/coins legal tender(must be taken to pay person with current a/c can write cheques used to pay for shopping,can also get cash at checkout with it cheaper than cheque buy goods/services now and pay later must pay all or installment each month high interest on balance like credit card but you must pay all balance at statement each month

good places to save your money post office building society credit union commercial bank money safe always one near no DIRT tax saving certificates saving bonds instalment savings to get a mortgage loan to buy house begin by opening savings a/c save money by buying shares in the society almost always one nearby entitled to get loan at low interset rate offer 2 main a/c savings a/c deposit a/c get dividend(interest) each year dividend paid relates to amount of cash in credit union and a/c higher interest then the bank AIB,bank of ireland,ulster bank deposit a/c current a/c save money,earn interest get a cheque book no interest,not good for saving

Chp. 7 money and borrowing