I believe their are two types of banana terminals. They make a solder type then a type that the the wire will clip into a hole in the terminal. Just depends on which type you want to use. But all you will need is a wire stripper, and then a solder gun if you use that type.
On the issue of wire some ppl will say that it makes a huge difference but from what I have read the cheap no name stuff will work just fine jsut make sure that you are using the right gauge for the power and length you are using. I used 14awg from Home Depot for my front speakers which may be overkill but for the minor price increase why not. monoprice and partsexpress also have good deals on bulk wire. Hope this helps
