It is almost impossible to imagine living without banks today - they are a continual necessity for most of us.

There are such a wide array of bank products to choose from to make and receive payments, save, finance current consumption and long-term investments, acquire financial assets, and so on.

Customers often lack basic knowledge about these products, the range of product and service options available to them, and have inadequate understanding of the financial regulations governing banks and their own rights and responsibilities in dealing with them. Not least, customers are also not very well versed on the costs of operating bank accounts, and could end up paying excessive fees and charges that could be avoided.

Financial education ensures that customers receive the information they need to make informed decisions, free of unfair or deceptive practices, and can understand the mechanisms for resolving disputes when transactions go awry, as well as knowing how to protect the privacy of their personal information.

Financial education gives consumers the knowledge, skills and confidence to understand and evaluate the information they receive and enables them to purchase the financial products and services they and their families need.

This short course introduces just some of the basic products and services that banks provide, clarify terminology and tries to simplify the subject for those embarking on banking for the first time for themselves and their families.