Branch banking, Visiting a physical bank to deal with staff face to face, Online banking, Managing an account through the bank’s website on a computer, Telephone banking, Banking by phone, using security questions to confirm identity, Mobile banking, Using the bank’s app on a smartphone or tablet, Postal banking, Dealing with the bank by post, using paper statements and forms, FCA, Makes the rules, authorises firms and punishes those that break them, FOS, Settles individual complaints between a customer and a firm, free of charge, FSCS, Pays compensation, up to £85,000 for deposits, when a firm fails, Consumer Credit Act, Sets the rules for credit agreements, including the APR and Section 75, Section 75, Makes the card provider jointly liable with the retailer over £100, Cooling off period, The time in which a borrower can cancel a credit agreement, Citizens Advice, Free charity advice on financial and non-financial problems, Independent financial advisor, Regulated professional giving whole of market advice for a fee, Price comparison website, Compares the price of products from a range of providers, Debt counsellor, Negotiates with creditors and arranges a repayment plan, IVA, Agreement to pay creditors over five years through an insolvency practitioner, Bankruptcy, Legal process that writes off debts, usually after twelve months

Outcome B

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