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Money and Banking II (Money Transmission (Bank Draft (A form of cheque…
Money and Banking II
Money Transmission
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Standing Order
A person with a current account can instruct the bank or building society to take a fixed sum of money from their account and pay it to someone else on a fixed date
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Bank Giro
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The person paying the money has to complete a bank giro form for each payment and pay the bank in full
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Saving Facilities
Banks, building societies, credit unions and An Post provide many different and secure ways of saving.
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Interest on Savings
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Compound annual interest (CAR) - interest is calculated on the original sum plus the interest earned to date
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