personal finance

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Business Finance

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The assignment task and requirements are in the pictures attacked p....The assignment should be 1200 words and 0% plagiarism

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The Task: Reema wants to open a current account, a savings account and a loan account with one particular bank. Reema has just left university with a bachelor's degree in fashion designing. She has a current account with a bank having a branch at her university. She is contemplating whether to stay with her current bank or change to a new one. She plans to work for a charity an Orphanage Centre for 12 months, and another 12 months abroad before starting a Master's degree. Being a friend and a financial advisor, help Reema to decide whether to stay with the current bank or open new accounts either with Bank Muscat, NBO, or HSBC through a financial report. Consider the 3 main parts of the report consisting of 1200 words. i. ii. Factors to be considered when choosing a provider Compare the differences between three providers How well you think they will meet her financial needs iii. 400 words 400 words 400 words Version 1 3 This WRIT1-coursework will assess the following learning outcomes: . Analyse the effects on consumers of changes and trends in the financial market place Compare the main features of financial products and providers Analyse the effects on consumers of changes and trends in the financial market place Gulf College - Faculty of Business and Management Studies – In academic Affiliation with CARDIFF SCHOOL OF MANAGEMENT Personal Finance- GAC3000 AY-2017-2018 Marking Scheme Student ID: Weighted Percentage First Marker Second Agreed Marker Marks Structure Content of the Criterion ماهي اسم الوار Factors to be considered when choosing a provider di ufur saglio (List out and explain the factors 30 you considered for choosing one of the financial provider- banks) - Comparison of the financial services offered by the banks a) Bank Muscat b) NBO c) HSBC (student can discuss about the educational loan, interest rates, repayment scheme and other terms and conditions if applicable) II 30 Service provider (Bank) that meets the financial needs. (of Reema) 30 5 IV V Referencing (Harvard Referencing System) Citations(Minimum of 5 sources) and Structure TOTAL 5 100
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Surname 1

Personal finance
By [Name]

Course
Professors
Name Institution
Location of Institution
Date

Surname 2

Keeping your money safe is one of the most important things in life. Everybody needs to
make a decision of either choosing a bank or a credit union or keep their money. Reema has
several factors to consider before deciding the bank to choose. He should first understand her
personal needs and preferences. The following are some of the factors that Reema should put
into consideration before selecting the provider that fits her.
First, she should consider the security of her funds. She must ensure that any bank that
she selects is insured by the insurance company of banks like Federal Deposit Insurance
Corporation for banks. She should not consider any bank that lacks this feature because it will
put her funds at risk. The fees for the basic transactions should be considered also. She should
choose the provider who charges the smallest fees or who does not charge any fee for basic
transactions. Some of the fees she should avoid include the check fees, monthly fees and fee for
account assistance (Levesque and McDougall 1996). The ease of depositing the funds is another
consideration. The provider should provide the simplest means possible to deposit the funds. It
can even offer services where one may use a phone to make the deposits to make the process
simple and fast. Reema should consider how frequent she will be depositing the cash or the
checks. The fees that are charged when using the ATM should also be put into consideration. If
Reema will be using the ATM frequently, it’s good to find ...


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