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Impact of Adult Learning on Adults’ Ability to Identify Common Banking Charges

Abstract

Common banking charges refer to fees and deductions that financial institutions may apply to customers for specific banking services and transactions. Adult Learning can provide adults with the knowledge and practical skills needed to recognize, distinguish, and understand these charges when reviewing their banking information. This study will examine the impact of Adult Learning on adults’ ability to identify common banking charges, focusing on transaction fees, service charges, transfer charges, account-related fees, and other common deductions. The study is motivated by the need to improve adults’ financial awareness and enable them to make informed decisions when using banking services. Adult Learning provides opportunities for adults to acquire practical financial knowledge through discussions, demonstrations, examples, problem-solving exercises, and real-life learning activities. In relation to banking charges, learning activities can expose adults to common categories of fees and explain how such charges may appear on account statements, transaction records, or other banking information. Adults can practise identifying different charges and distinguishing service fees from transaction amounts or other account deductions. Practical learning can make banking terminology and charge-related information easier to understand. Adults’ ability to identify common banking charges refers to their capacity to recognize, distinguish, and correctly interpret fees associated with banking services and transactions. This ability is important because limited understanding of banking charges may make it difficult for adults to determine why particular amounts have been deducted from their accounts or compare the costs associated with different services. Adult Learning can strengthen this ability by providing practical examples and guided exercises involving realistic banking information. Improved identification skills may therefore support more informed financial decisions and greater awareness of banking service costs. The study will adopt a suitable descriptive survey research design. The population will comprise adults participating in selected Adult Learning programmes, from which an appropriate sample will be selected using a suitable sampling procedure. Data will be collected through a structured questionnaire and a practical identification assessment designed to measure participants’ ability to identify common banking charges. The research instruments will be subjected to appropriate validation procedures, while their reliability will be established before administration. Data collected will be analysed using relevant descriptive and inferential statistical techniques to determine the impact of Adult Learning on adults’ ability to identify common banking charges. The study is expected to establish that participation in Adult Learning programmes has a positive impact on adults’ ability to identify common banking charges. Adults exposed to relevant learning activities are expected to demonstrate improved ability to recognize different types of banking fees, distinguish charges from transaction amounts, and interpret basic charge-related information presented in banking records. The study may further establish that practical exercises using sample transaction records and account information are effective approaches for developing adults’ understanding of common banking charges. The study is expected to have implications for Adult Education practitioners, financial literacy educators, community educators, and financial service providers. Adult Learning programmes may incorporate practical banking examples, guided interpretation exercises, and simplified explanations of common charges to strengthen participants’ financial knowledge. Such activities can help adults connect financial concepts with their everyday banking experiences and encourage them to pay greater attention to the costs associated with banking services. The study will be significant to adults, households, Adult Education practitioners, financial educators, banking customers, and other stakeholders interested in improving financial literacy. It is expected to recommend the integration of practical banking-charge identification activities into relevant Adult Learning and financial literacy programmes, using accessible examples and hands-on exercises. The study will conclude that effective Adult Learning can improve adults’ ability to identify common banking charges and contribute to more informed and responsible use of banking services.

Keywords: Adult Learning, banking charges, banking fees, transaction fees, service charges, financial literacy, banking knowledge, account deductions, transaction records, financial awareness, banking services, consumer financial knowledge, adult education, financial decision-making, banking costs