Question

what is school bank? what are the steps in organising the same?​

Answer 1

Answer:

A school is a place where money for students is kept..  

Explanation:

This is where money for school kids or pupils  is kept .

Such moneys are for stipent by the sktudents themselves.

This one helps kids learn financial skills because they get similar acces to money as for that of the banks and spend it wisely on their school stipend.

The school may even get services of a bank forthis and even get a commisioner from the bank to give the parties a greenlight on how their money is being transacted.

Some of the importance of such oppotunies provided by this oppotunies;

• It aids students acces financial products that suits them
• In other Nations thye school students are given credit facilitation in their stay in school.
• It gives the students economic empowerment and awareness.

Answer 2

School banking includes setting up a savings account with a passbook by way of the provider of the service at the specific school.  

EXPLANATION:

• Teaching children money management's all-important skills and saving when they're young will inspire them for future success. School banking plays an important role in helping children learn about money management and setting up alongside their peers a regular savings routine. School banking can teach valuable skills in financial literacy that go well beyond school life. Many parents and guardians find school banking very helpful today as well.
• In addition to saving money through students, parents or guardians, school banking can also pay school fees through some of the banks. School banking generally runs through primary school as well as sometimes into secondary school. School banking includes creating a savings account at the particular school with a passbook through the service provider. Children simply deposit money every week on school banking day through a clear deposit envelope program and a drop box / intranet service provided at the school.  
• The organization operating the school banking program will usually provide some employees to manage the program, however volunteers and parents are often counted on to fill the gaps they do admirably. By way of simple, fun exercises which involve specifically created characters or costumes, children are taught the fundamental of money. Children receive some rewards for taking part in the program and for saving up .

To know more

If school is to education then bank is to?

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What are steps in organising school Bank

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