Unit Award Scheme

122179 BANKING

In successfully completing this unit, the Learner will have		Evidence needed
shown knowledge of
1	the key documents they typically need to open a bank account	Student completed work
2	the main differences between a savings account and an instant-access savings account	Summary sheet
3	the main purpose of a Junior ISA (Individual Savings Account)	Summary sheet
4	the key features of an overdraft and how it works	Summary sheet
5	the main ways direct debits differ from standing orders	Summary sheet
6	two reasons why someone might not be able to open a standard bank account	Summary sheet
7	how they can access the Child Trust Fund when they turn 18	Summary sheet
8	the main financial support that is available for young people aged 16-19 who are in full-time further education	Summary sheet
8	at least one way a basic bank account can help individuals with a poor credit rating	Summary sheet
demonstrated the ability to
9	name two online banks and give at least two reasons why someone might choose to use an online bank account.	Summary sheet

All outcomes recorded on an AQA Summary Sheet

Approved 1 October 2024Level - Level One