Please enable JavaScript.
Coggle requires JavaScript to display documents.
(P) Money and Banking One (Irish financial agemcies (An post (Branches all…
(P) Money and Banking One
Money
Anything which is acceptable by people in exchange for goods and services
Barter to the euro and palstic
Barter
Before money was used
People purchased things by paying for them with other things
Money
To overcome difficulties of Barter, money was introduced
Money is a form of some object which people wanted and thought highly of
Object was scares in supply, non-perishable and easily carried
Gold and silver was chosen after many things were tried
Euro
Introduced in 2002
11 other countries introduced it two
Forms of Money
Currency
Notes
Coins
Bank current accounts
People but money in and make payments out of the account by laser or cheque
Plastic money
Credit cards
Issued by banks and building societies
Examples
Mastercards
Visa
Widely accepted in shops, garages and restaurants
Government taxes these cards
A person receives up to seven weeks interest
Charge cards
Similar to charge cards
Amount must be paid as soon as statement is received
There's an annul membership fee
Examples
Shell
Esso
Arnott
Clerks
Automated teller machine cards (ATM)
Obtained at bank and building society's
Allows customers to lodge and withdraw money, pay bills, order cheque books and statements
Can be used at any time day or night
Debit cards
Usually know as laser cards
Allows current account holders to make payments without using cheque or cash
Money comes directly from bank account
Examples
Visa debit
Debit MasteCard
All are smart cards
Smart cards
Most banks issue them
Combine many forms of cards
ATM cards
Laser cards
Cheque guarantee
Cirrus/links facilities
Irish financial agemcies
An post
Branches all over Irelan
Form of post offices
Banks
Examples
Allied Irish bank (AIB)
Bank of Ireland
Ulster bank
Permanentt tsb
National Irish bank
Building Societies
Examples
Educational building society
Irish nationwide building society
Irish civil services building society
Credit unions
Co-operative owed and run by members
Over 500 in Ireland