IGG INTEREST BADGE Guide Money Matters Option 02

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Description

List the advantages and disadvantages of online banking.

Resources

None

Instructions

Aim of Badge : To encourage you to manage your money responsibly

This Badge has 6 options of which 6 must be completed.

Instructions
Ask the Guides to think about the possible advantages and disadvantages of online banking.

Have a discussion about the information that is stored by a website that allows a person to log in to online banking, both via the website or via an app.

Advantages
• Ability to check balance from home before making a purchase
• Ability to transfer money between accounts
• Access to bank statements
• Stopping payments
• Viewing pending transactions
• Fast and efficient
• Control over your own finances
• Easy to use

Disadvantages
• Security concerns – chance of account being accessed by others (hacking)
• Password must be secure
• Cannot be accessed if the site is undergoing maintenance
• Requires an internet connection
• Customer service can be less accessible

Tags

  • IGG
  • interest badge
  • money matters
  • online banking
  • online safety
  • Trefoil News
  • Trefoil News Autumn 2017

Badge Links

This activity doesn't complete any badge requirements