Code: 4.1.1 · Children and youth
Code: 4.1.1 · Children and youth
Aware that most financial service providers are regulated
Understands that some financial products and services may not be regulated/supervised or may be offered illegally
Knows the benefits of comparing financial products and services from different providers
Knows that some financial service providers have an obligation to provide certain types of services, such as basic bank accounts, and is motivated to use such services if needed
Aware that funds deposited on a bank account up to 100,000 EUR per person and per bank are protected under the deposit guarantee scheme in the EU
Can distinguish the main products/services offered by financial institutions (e.g. bank accounts, loans, insurance products, etc.)
Can distinguish the main types of financial institutions (e.g. banks, insurance companies, etc.)
Can describe the roles and functions of the main types of financial institutions
Distinguishes if a financial service provider, whether operating physically or digitally, is regulated by national competent authorities or not
Confident to shop around for financial products, including by using reliable (online) comparison tools, where available