Personal Finance

User Generated

zbunzzrqxm

Business Finance

Description

The pictures are numbered the are having the task and the requirement please check them ...thenassignment should ne 1200 word and 0% plagiarism

Unformatted Attachment Preview

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
Purchase answer to see full attachment
User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

Hi, kindly check the file and let me know your thoughts about it. :)

Personal Finance

Choosing a bank provider for a young professional like Reema with changing goals requires
consideration of different factors. It is important to determine if the bank can meet the current
needs, future plans, and lifestyle of Reema. Because of her plan of opening three different accounts
in one bank, Reema’s top consideration should be minimizing possible expenses that she may incur
when doing transactions and convenience of conducting transactions for several accounts.
First, there should be no recurring monthly fee to maintain several accounts in one bank. Instead
of paying for a monthly recurring fee for each account, this can even be deposited in her savings
account. Next, there should be no minimum maintaining balance. While some banks require a
small amount of minimum maintaining balance, these do not earn any interest resulting in money
just being locked up in the bank. In addition, there should be no transaction fees being charged
when doing transactions that can be incurred when doing several transactions such as deposit,
withdrawal, bills payment, and transferring between different accounts. Another factor that needs
to be considered is the federal deposit insurance that the bank has an agreement with the
government. This ensures that savings or deposits in a bank are secured and will be returned to
their clients when the banks have declared bankruptcy.
In terms of convenience of conducting transactions, one must consider the network of branches
and ATM. Having a large network of branches and ATMs in convenient locations make banking
transactions easy to do. This network must be wide enough to address the mobility or possible
relocat...


Anonymous
Great! 10/10 would recommend using Studypool to help you study.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Related Tags