Banking Knowledge Quiz

1. Why is keeping money in a bank better than under your mattress?

Banks have better security Money in banks earns interest to help counter inflation Banks are open 24/7 Money in banks is always accessible

2. What type of account is best for daily transactions?

Savings account Student account Cheque/Current account Fixed deposit account

3. What should be the PRIMARY factor when choosing a bank?

Rewards programs Budgeting tools Discounts offered Competitive fees and good customer service

4. Which document is NOT mentioned as a requirement for opening a bank account?

South African ID Proof of address Clothing account Proof of income/student status

5. When comparing banks, what should you check regarding ATMs?

The number of ATMs near you The color of the ATM machines The size of the ATM screens The age of the ATM machines

Test your knowledge quiz