The document discusses the various services provided by commercial banks including current accounts for day-to-day banking, savings accounts, ATMs, online banking access 24/7, mortgages, loans, money transfers and foreign exchange. It describes how current accounts can be used to make payments via cheque, laser card, standing order or direct debit and may involve fees, while savings accounts earn interest but it is taxed.

2.  A commercial bank is a business that
provides financial services to personal and
business customers

3.  An Post
 Building Societies
 Credit Unions

4.  Money Withdrawal
 Money Transfers
 Savings
 Loans/Mortgages
 Foreign Exchange
 24- hour Banking
 Night Safe

5.  An account for day-to-day banking
 An account into which a person puts money so that
payments can be made by
◦ Cheque
◦ ATM
◦ Laser card
◦ Standing order
◦ Direct debit.
 Overdraft – withdraw more money than what is in the
account
 Fees may apply to transactions.

6.  A savings account
 An account into which a person deposits any
money they want to save, any money left over
at the end of the month
 Account holders receive interest on savings
 But must pay tax on this interest (DIRT)

11.  Automated Teller Machine (ATM) allows
money to be withdrawn from your account
 How to use an ATM

12. On-Line/24 Hour Banking
 Banking over the telephone or on the
internet, 24 hours per day, 365 days per year.
8

13. On-Line/24 Hour Banking (continued)
 Facilities include:
 checking your account balance
 transfer money between your accounts
 transfer money to other accounts, i.e. pay bills
 apply for a bank loan, a bank overdraft or a credit
card
8

14. On-Line/24 Hour Banking
 Access to on-line banking is through a
customer identification number and a
password.
8

15.  A deposit slot on the outside of a bank
allowing money to be deposited into the
bank's safe outside of bank opening hours
e.g. at night