BTEC Business- Unit 3 Finance revision Exam Study Guide.
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Course
BTEC
Institution
BTEC
BTEC Business- Unit 3 Finance revision
Exam Study Guide.
Cash - answerMoney in the form of bills or coins
Debit card - answerA card used to withdraw money from a bank account
Credit card - answerA card authorizing the holder to buy goods and services that can be paid for later.
Cheque - answer...
BTEC Business- Unit 3 Finance revision
Exam Study Guide.
Cash - answer✔Money in the form of bills or coins
Debit card - answer✔A card used to withdraw money from a bank account
Credit card - answer✔A card authorizing the holder to buy goods and services that can be paid for later.
Cheque - answer✔A written instruction to your bank to pay a sum of money to another person from
your current account
Electronic transfer - answer✔The transfer of funds from one account to another via the internet or
telephone
Direct debit - answer✔An electronic payment out of an account. The amount and frequency of a direct
debit payment can vary
Standing order - answer✔n. an instruction to a bank to make regular payments
Contactless card - answer✔Cards containing antennae allow money to be transferred when the card
touches a contactless terminal
Store card - answer✔a credit card which can only be used to buy goods in one particular shop or chain
of shops
Mobile banking - answer✔apps that allow online banking access from devices such as smart phones,
tablets, etc.
BACS - answer✔Bankers Automated Clearing Services
CHAPS - answer✔Clearing House Automated Payments System
Standard current account - answer✔Account with full banking facilities
Premium current account - answer✔An account with a fee entitling the user to extra services
Basic current account - answer✔Account with limited facilities usually used by someone with a poor
credit rating
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