Summary
Summary Advantages and Disadvanatges of 9 financial institutions
- Institution
- PEARSON (PEARSON)
Advantages and Disadvanatges of 9 financial institutions
[Show more]
Seller
Follow
Content preview
Advantage of Building societies:. Offers a range of services and account types
. Provides a secure place to store money
. Pay interest on credit balances on most types of accounts.
. Owned by members and therefore costs can be kept down allowing higher interest payments.
Disadvantage of Building societies:
- Savings are only protected to the value of £75000 so if the building society goes
bankrupt, all savings above is lost
- May lack the business drive of a commercial bank
Advantage of credit union:
- Offers a range services and account types
- Provides a secure place to store the money
- Owned by members and therefore costs can be kept down allowing interest for higher
payments
- Often offer additional benefits to the community or good cause.
Disadvantage of Credit union:
- Savings are only protected up to £75000 so if the building society goes bankrupt, all
savings will be lost.
- May lack business commercial drive
Disadvantage of a pension:
- Poor investment decisions by the pension company may result in a disappointing return.
- Money already invested in a pension cannot be released prior to the dates agreed to the
policy
Advantage of Pawnbrokers :
- Quick way of acquiring cash needed for short period of time
- Asset can be brought back in a set period of time.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller pranaamrevadala. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £9.16. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
53022 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now