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    This document provides an overview of money and banking. It defines money as anything accepted in exchange for goods and services, and outlines key qualities of money including being scarce, durable, portable, and divisible. Various forms of money are described such as currency, bank accounts, and plastic money including credit cards, charge cards, store cards, ATM cards, and debit cards. Irish financial agencies that help citizens manage money are also summarized, including banks, building societies, An Post, and credit unions.

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    This document provides an overview of money and banking. It defines money as anything accepted in exchange for goods and services, and outlines key qualities of money including being scarce, durable, portable, and divisible. Various forms of money are described such as currency, bank accounts, and plastic money including credit cards, charge cards, store cards, ATM cards, and debit cards. Irish financial agencies that help citizens manage money are also summarized, including banks, building societies, An Post, and credit unions.

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    50 views17 pages

    Money and Banking 1

    Uploaded by

    api-314630514
    This document provides an overview of money and banking. It defines money as anything accepted in exchange for goods and services, and outlines key qualities of money including being scarce, durable, portable, and divisible. Various forms of money are described such as currency, bank accounts, and plastic money including credit cards, charge cards, store cards, ATM cards, and debit cards. Irish financial agencies that help citizens manage money are also summarized, including banks, building societies, An Post, and credit unions.

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    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
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    of 17

    Money and Banking

    Barter

    Exchange of goods and services for


    other goods and services.

    Eg. Bread for a haircut

    What is Money?
    Anything which is accepted in
    exchange for goods & services.

    Qualities of Money
    1. Scarce in supply be in short supply
    2. Non-perishable/durable last a long
    time
    3. Portable easy to carry
    4. Divisible can be broken into small
    parts

    Forms of Money
    Currency/Legal Tender:
    Notes and coins

    Bank current accounts:


    Put money into bank account and make

    payments by cheque, laser, CT.


    Plastic money:
    Credit cards, charge cards, store cards,

    laser and ATM cards.

    Plastic Money/Cards
    Credit cards: Access, Visa,
    MasterCard
    Charge Cards: American Express
    Store Cards: Esso, Statoil
    ATM
    Debit (Lazer) Card
    Smart Card

    Credit Card
    Buy now pay later.
    Receives a monthly statement.
    Pay in part or full.
    Interest charged on balance.

    Charge Card
    Amount due must
    be paid as soon as
    statement is
    received.
    Annual membership
    fee.
    American Express.

    Store Cards
    Given by department stores and oil
    companies.
    Customers are given a credit limit.
    Esso/Shell, Brown Thomas.

    ATM (Automated Teller Machine)


    Allows customers withdraw money,
    pay bills, order cheque books,
    change pin, receive statements,
    mobile top up
    Access 24 hours
    Cheaper than paper transactions
    why??

    Debit/Lazer Card
    Used by current account holders to
    pay for goods and services
    Laser card is swiped through terminal
    at cash desk.
    Money is withdrawn from a/c
    immediately.

    Smart Card
    Combines
    ATM
    Laser
    Cheque guarantee
    Cirrus/Link (use
    ATMs abroad)

    Irish Financial
    Agencies
    1.
    2.
    3.
    4.

    Banks
    Building Societies
    An Post
    Credit Unions

    Irish Financial Agencies


    1. Banks
    Allied Irish Bank (AIB)
    Bank of Ireland (BOI)
    Ulster Bank
    Permanent TSB
    National Irish Bank (NIB)

    2. Building Societies

    Some of the building societies which


    operate in Ireland are:

    Educational Building Society (EBS)

    Irish Nationwide Building Society

    3. An Post

    They have branches all over Ireland


    in the form of post offices

    4. Credit Unions

    Owned and run by their members

    Over 500 individual credit unions in


    Ireland

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