Financial Education Professionals is a leading provider of technical training in financial services. We deliver innovative, contemporary training solutions developed by prominent industry experts and education specialists.
Our course examines the common functions of money and how regulation of Australia’s banks and payment system is shared between ASIC, APRA and the Reserve Bank of Australia (RBA). We outline common characteristics of deposit products and look at the difference between deposits and comparable investment products such as cash management trusts.
We also explore the companies that comprise Australia’s authorised deposit-taking institutions (ADIs), including the advent of neobanks, and a range of non-cash payment facilities – from longstanding solutions such as cheque accounts, travellers cheques, EFTPOS and bill payments to more innovative products such as fast fund transfers, reloadable prepaid credit cards, and digital and mobile wallets.
Our RG 146 Deposit Products & Non-Cash Payment Products course is designed for those seeking RG 146 compliance to provide general advice in the Tier 2 financial product area of Deposit products and non-cash payment products. They include banks, product developers, solution distributors, frontline branch and call centre staff, and financial advisers.
If you need compliance to provide personal advice, we offer Tier 2 RG146 Skills (Personal Advice). You can also contact us to discuss our customised corporate solutions.
- Outline the common functions of money
- Describe the concept of interest and differentiate between simple interest and compound interest
- Discuss how Australia’s banks and the payment system are regulated to achieve a high level of consumer protection
- Examine the features and characteristics of non-cash payment facilities that led to them being defined as financial products and therefore saw them fall under ASIC’s regulatory oversight.
- Deposit Products and interest rates
- Non-cash payment products
- Legal environment – disclosure and compliance
On successful completion of Deposit Products and Non-Cash Payment Products, participants will be awarded a Certificate of Attainment confirming that they are RG 146 compliant to provide general advice in Deposit Products and Non-Cash Payment Products.
Participants who also successfully complete an RG146 Tier 2 Skills assessment will be awarded the following units of competency:
- FNSASIC301 Establish client relationship and analyse needs
- FNSASIC302 Develop, present and negotiate client solutions
We estimate you will need approximately 8 hours study time to complete this subject, earning 8 hours/points.
Our courses are offered by self study via our learning portal, FEP Online. It provides you with online learning resources, support and assessment.
You have 8 weeks from your enrolment date in which to complete each course.
There is (1) online open-book knowledge examination, comprising of thirty (30) multiple choice questions. You are given two (2) attempts with a required 80% pass mark.
Download our course brochure