Unit Award Scheme

112689 UNDERSTANDING BANK ACCOUNTS AND SAVINGS

In successfully completing this unit, the Learner will have

Evidence needed

demonstrated the ability to

1identify at least three different bank or building society accountsSummary sheet or student completed work
2list two types of plastic banking cards issued by banks or building societies, eg debit cardSummary sheet or student completed work
3select an appropriate bank account for own useSummary sheet
4complete an application form to open a bank or building society accountSummary sheet
5identify at least five entries on a bank statement correctlySummary sheet

shown knowledge of

6at least three examples of how an on line bank account can be used, eg for transferring money, checking an account and making paymentsSummary sheet or student completed work
7at least three advantages of using bank or credit cardsSummary sheet or student completed work
8at least three disadvantages of using bank or credit cardsSummary sheet or student completed work
9at least three different ways of saving moneySummary sheet or student completed work
10at least three advantages of using direct debits or standing ordersSummary sheet or student completed work
11at least three dangers of pay day loans and loan sharksSummary sheet or student completed work
12other services offered by a bank or building society, eg mortgages, ISAsSummary sheet or student completed work
13the importance of not going overdrawnSummary sheet or student completed work

experienced

14taking part in a discussion about the benefits and disadvantages of using a credit union for managing personal finances and savingsSummary sheet
15making a cash withdrawal from an ATM.Summary sheet

All outcomes recorded on an AQA Summary Sheet

Approved 14 October 2019Level - Entry Level