Ways to pay

There are many ways to pay for the things you buy (called goods) or for paying bills for services.

Some of the ways to pay include:

• Debit card - a way to pay for goods and services. You can also use it for getting cash from your bank or a cashpoint machine (also called an automated teller machine (ATM))

• Cash - it is handy to carry some cash for small purchases and in case electronic methods of payment are not available

• Credit card - a way to pay for goods and services on credit (you are borrowing money and will need to pay it back)

• Direct debit - a regular payment from your bank account, commonly used for paying regular bills

• Internet/phone transfer - known as online banking, a way to manage your bank account using your computer, tablet or mobile phone

• Cheques - a way to pay money into, or out of your bank account