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ALL THE WAYS TO PAY

The way you pay for something will likely vary depending on where you keep your money. If you keep your cash in your wallet, top drawer or under your bed – you’ll most likely be paying with cash. If you keep your money in a bank account however, you have a few more options.

 

I keep my money…. Under the bed/in my wallet/it’s a secret I can’t tell you
You can pay with…. Cash
   
I keep my money…. In a bank account with cashcard access 
You can pay with…. Cash
  EFTPOS
  Direct Debit
  Internet Banking Transfer
  BPAY
If you’re 18 you can also use…. Online Payments Options like PayPal 
  Buy Now, Pay Later Solutions like AfterPay
   
keep my money…. In a bank account with a debit card
  (you might need to be a certain age to get one  of these - check with your bank)
You can pay with….  All of the above PLUS
  Paywave or Paypass
  Online Payment
  Phone Payment

All of these options use your own money to pay.

 

Once you hit 18, you might be able to borrow money from the bank to help pay for things. This is called paying for things with ‘credit’ and means you go into debt. You’re likely to be up for paying interest on any money you borrow.


 

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Any advice in this information is general and has been prepared without taking account of your particular objectives, financial situation or needs. Before you act on any advice you should consider whether it is appropriate for you. IMB Ltd trading as IMB Bank ABN 92 087 651 974 AFSL/Australian Credit Licence 237 391