Limitations of Comparison Websites for Financial Products and Services

FNSINC402 - Products
and Services

Table of Contents
Activity 1.........................................................................................................................................3
Activity 2.........................................................................................................................................3
Activity 3.........................................................................................................................................4
Activity 4.........................................................................................................................................4
Activity 5.........................................................................................................................................5
Activity 6.........................................................................................................................................5
Activity 7.........................................................................................................................................6
REFERNCES:..................................................................................................................................7
Books and Journals:....................................................................................................................7

Activity 1
Using comparison websites is a good way to obtain up-to-date information about financial
products and services. Explain some of the limitations of these comparison systems.
(Explain systems that can be accessed to obtain up-to-date information on products,
services, and competition).
Activity 1 Answer
It is identified that comparison between websites are very important for small business as
it assists in making their products available in the market. It is identified that comparison sites
are used by customers in order to take best products from the online market. In comparison sites
there are almost all small business that gives many benefits to the consumer. Consumer can take
extra benefits at minimum cost so that's why they choose comparison websites in order to select
the best employees (Muir and et. al., 2017). It is essential for an organisation that they should
give support to the consumers with their financial products. Finance is the key component that
need by consumers in their daily life so that's why they need to look comparison sites. With the
help of comparison sites customer get up to date information about products, services and
competition which assist in taking better decision. It takes information from various small
business and then transfer on one website with the comparison. But it is analysed that
comparison sites are also get biased and that's why it is the limitations of comparison sites. It is
very important for a consumer that they should take care when they are filtering information
because it may be give wrong information.
Activity 2
In your own words, describe the difference between a debit card and a credit card.
(Describe the products and services used by the organisation or sector and their purpose).
Activity 2 Answer
Debit card and credit card both are very important for an organisation and individuals as
it assists in complete their payment. It is identified that debit card is issued by banks to the
customers from which consumers can access funds with any cash withdrawal and a paper
writing. Whereas credit card is the debt instruments that used for financial transaction. The main
difference between these two card are debit card is access only when a person has money in their