Code: 1.3.4 · Adults
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)
Knows how to assess the potential risks and benefits of different payment methods
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
Knows basic anti-money-laundering rules with respect to the use of cash and payments and complies with them
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
Aware that EU rules allow consumers to open and change bank accounts anywhere in the EU
Aware that a payment account with basic features can be offered by traditional and online credit institutions
Aware of the existence of a quick procedure for consumers who want to switch their account from one bank to another
Uses appropriate methods and technologies to make payments, taking into account the overall cost, risk and personal convenience of the method chosen
Able to execute online payments on different payment facilities, following digital security measures
Takes steps to use a payment account with basic features, if eligible
Take steps to use a payment account that fits individual needs and demands
Motivated to learn about different payment and transfer methods
Confident to use different payment and transfer methods and to choose the best ways to transfer money, while considering costs and risks
Confident to request the opening of a payment account with basic features, if eligible