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Home and Living AloneBankingThe purpose of this badge is to help you have an understanding of the different types of bank accounts and the benefits they offer so that you can make an informed choice about what account would be best for you.Home and Living AloneBanking #1Have you got a bank account? If you have, jot down on a piece of paper how you chose it. Discuss in your group the different reasons why you chose your account, or (if you don’t have an account), what issues you would look at.Prompts:The account came with a free giftThe account came with a free overdraft for a limited periodThe account came with a good rate of interestI have had the account for some years, it was set up by a parent/guardianThe account came top of the search list in googleThe branch is near meThere are no bank chargesThey offered online bankingMy mate has an account thereI liked the branch/building society’s advert on televisionTOP TIP… If you don’t know what some of the words mean, check out the glossary.Once you have identified reasons to choose an account, lift them in order of importanceEvidenceReason to choose accountOrder of importance (1 most --- 5 least)Home and Living AloneBanking #1 – Glossary368303492500Home and Living AloneBanking #2Look the three scenarios in the resource #2. Using the information you are given on each young person; choose which of the three bank accounts you think would be best for each young person.Write down your answers.NameType of Bank AccountShannonRyanSammiHome and Living AloneBanking #2 – Resource 2Home and Living AloneBanking #3Now you have started to think about matching a bank account with a person’s needs, it’s time to think about you! What do you need from a bank account?FeatureYes, I need itNo, I don’t InterestDirect DebitsCash CardDebit CardOverdraft LimitCheque BookFree Gift when you Open an AccountOnline BankingBranch Near MeText AlertsMobile AppWhy don’t you go and visit 3 banks or building societies and get details of the different current accounts they offer? Couch potato? Do an online search instead!Home and Living AloneBanking #4Great, you have got details of the bank account you would like to open, now let’s look at what you need to open a bank account.What next? Show us which bank account you are going to open OR if you still need to work some things out, let’s see your plan of action!What you still need to find out or get?What will you do or where will you go to find it at?Who can you ask for help? ................
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