Business visit to Natwest Bank and Bank Loan Negotiation
Goldfield's first 'My Money March' group to visit a local business walk to Natwest Bank. During their visit they find out about Natwest Tring branch and ask for a bank loan to provide them with the money to prepare for their fund raising 'My Money March Tea and Art Afternoon' in aid of a charity, which will be proposed and voted for by the children at Goldfield and to help raise funds to improve Goldfield Schools outdoor areas.
Arriving at the bank the first thing you see are the customer counters.
Customers can pay money into their bank account or take money out!
Customers used to visit their bank regularly to pay money in and get money out of their accounts. Businesses would visit daily to pay money in before the bank closed so that it could reach their account as soon as possible.
Banking in the past
Customers used mostly cash to pay for items.....
.... or payments would be made by writing a cheque. These methods of payment are still used today but many people pay electronically for items.
Today customers can pay for items using their computer, they can transfer money from their account into someone else's this is called 'online banking'.
Customers can get cash out of their bank account using a cash machine but to do this they need a bank card.
This bank card has a micro-chip (the silver square). When it is placed into a card reader customers can enter thier pin number which allows them to pay for things.
This is a card reader have you ever seen one being used? You will find them being used in banks, shops, restaurants pertrol stations and many more places.
For safety and security Natwest Bank use CCTV cameras to monitor their premises. The bank also have an impressive collection of keys and security key code locks.
Natwest and it's customers use a lot of money bags...
...we tried to seal the money bags but it was not as easy as it looked!
How many £2 coins need to go inside this money bag to make the value £500?
A new £1 coin is due to come into circulation at the end of March, Natwest are waiting for the arrival of their first batch of the new coins. We can still use the old pound coins but they will go out of circulation in October, so please check your money boxes/savings and exchange them before then!
Please click on the play button below to hear some of the questions we asked to find more information about the bank.
Negotiating a Bank Loan
Please click on the play button below to view a video clip of our negotiations.
To complete our visit to the bank we looked at our coin currency, comparing it's size and value. Our final treat was to look at £1,000 (just to check that it was really £1,000 please click on the play button below and count with us!).
A huge for the bank loan, literature, pens and lanyards. What an amazing and interesting morning we have had visiting the bank!