It’s impossible to operate within Australia’s financial system without a bank account. While many learners may already have a savings or transaction account, they may not have had any input or undertaken research into the choice of account. The focus of this course is an investigation of personal banking products. Learners are challenged to evaluate and make informed decisions for choosing banking products best suited to their personal needs.
The course
Objectives
By the end of this course, learners will be able to:
- Recall the main similarities and differences between savings accounts and term deposits
- Recall the FCS threshold
- Create a mindmap of banking products, including transaction accounts, savings accounts, and term deposits
- Select the best transaction and savings account for themselves, based on individual research
- Justify and explain reasons for bank account choices
- Recall general information about Australian bank accounts
- Match statements about transaction and savings accounts to the appropriate account type
Structure
This course consists of three key areas:
- Understanding the most common bank accounts accessed by Australians
- ‘Shopping Around’ for the best bank account
- Justifying and explaining bank account choices
We start with understanding various bank accounts, including savings accounts, transaction accounts and term deposits, and then learn how to research and choose the best bank account based on individual requirements and explain this choice.
Completing the course
Self-guided learning
This learning is self-guided. What this means for you as a learner is that you have more choice, but greater responsibility. Self-guided means you set the pace and choose how and when to complete readings, videos and activities. Self-guided also means you are responsible for checking your answers against our model answers or feedback.
Don’t forget, you probably also know some people around you, your family, friends, and work colleagues, that might be able to help.
We’d love to acknowledge your learning through a badge. So if you’d like to get a badge, here’s what you need to do:
- View every page of this course
- Complete every activity
- Complete the course survey
- Achieve 100% on the final quiz
Once you’ve done this, your badge will appear on the overview page for this course.
Click on the ‘Contents’ link when you are ready to begin.
Standards (for educators)
The content and tasks in this course have been aligned to the following Australian Curriculum elements:
- Consumer and financial literacy – Use critical thinking and problem-solving skills to make informed consumer and financial decisions
- Competence – The application of consumer and financial knowledge and skills in a range of changing contexts
- Consumer and financial literacy
- Use critical thinking and problem-solving skills to make informed consumer and financial decisions
- Economics and Business (Skills) – Apply economics and business knowledge, skills and concepts in familiar, new and hypothetical situations (ACHES047)
- Economics and Business (Skills) – Present reasoned arguments and evidence-based conclusions in a range of appropriate formats using economics and business conventions, language and concepts (ACHES048)