Payment Methods and Transferring Money

What you can do at this level

• Kdigitalresiliencedaily-lifelarge-majority

  Understands the difference between various payments methods and knows how to use them safely (e.g. debit or credit card, online transfer services, bank transfer to a retail account, mobile/digital wallet, instant payment)

• Kdigitalresiliencedaily-lifelarge-majority

  Knows how to assess the potential risks and benefits of different payment methods

• Kresiliencedaily-lifelarge-majority

  Aware that some methods of payment are a form of borrowing and understands how this will affect the overall price paid and that different types of transaction have different implications for cash-flow

• Kdaily-lifelarge-majority

  Knows basic anti-money-laundering rules with respect to the use of cash and payments and complies with them

• Kdaily-lifelarge-majority

  Aware that in the EU there is a right to a payment account with basic features regardless of a person's place of residence or financial situation

• Kdaily-life

  Aware that EU rules allow consumers to open and change bank accounts anywhere in the EU

• Kdigitaldaily-lifelarge-majority

  Aware that a payment account with basic features can be offered by traditional and online credit institutions

• Klarge-majority

  Aware of the existence of a quick procedure for consumers who want to switch their account from one bank to another

What you can do at this level

• Sdigitalresiliencedaily-lifelarge-majority

  Uses appropriate methods and technologies to make payments, taking into account the overall cost, risk and personal convenience of the method chosen

• Sdigitaldaily-lifelarge-majority

  Able to execute online payments on different payment facilities, following digital security measures

• Sresiliencedaily-lifelarge-majority

  Takes steps to use a payment account with basic features, if eligible

• Sdigitalresiliencedaily-lifelarge-majority

  Take steps to use a payment account that fits individual needs and demands

What you can do at this level

• Adigitaldaily-lifelarge-majority

  Motivated to learn about different payment and transfer methods

• Adigitaldaily-lifelarge-majority

  Confident to use different payment and transfer methods and to choose the best ways to transfer money, while considering costs and risks

• Aresiliencedaily-lifelarge-majority

  Confident to request the opening of a payment account with basic features, if eligible