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Select the correct bank account for each question.
g) Which bank account provides electronic transactions and allows internet and cell phone banking?
a) A _________ account is used for daily deposits and withdrawals
f) A _____________________ is an investment account where you can deposit money at a higher interest rate?
d) What type of account has high interest rates and penalties on overdraft facilities?
j) Jane is about to start her first job. She currently has no money to invest but wants a bank account that will allow her to directly deposit her salary, write cheques, and pay her bills online. What type of account will be the best for her?
i) This account can be used for short term saving.
c) Joseph only has an R100 and would like to open a bank account. What type of bank account only requires a small amount of money to be opened?
h) The interest rate for this type of account is determined by the term of the investment.
b) Deposits and withdrawals are not allowed with this account.
e) Usually, no interest is earned or very low interest rates in this type of an account
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