Purpose Bank On It : Is an overview of banking services. Will
help you build a positive relationship with banks, thrifts, and
credit unions.
Slide 4
Objectives By the end of this presentation, you will be able
to: Identify the major types of insured financial institutions.
Identify five reasons to use a bank. Describe the steps involved in
opening and maintaining a bank account.
Slide 5
Objectives (continued) Describe two types of deposit accounts.
Identify additional bank services that come with deposit accounts.
Describe the main functions of the bank customer service
representative, teller, loan officer, and branch manager.
Slide 6
Bank A business that: Offers you a safe place to keep your
money. Uses your deposits to make loans. Provides a variety of
services. Also called a financial institution.
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Why Keep Money in a Bank? Safety Convenience Cost Security
Financial future
Slide 8
Types of Financial Institutions Banks Credit unions
Thrifts
Slide 9
Opening & Maintaining a Bank Account Steps: Open the
account and go through account verification. Make deposits and
withdrawals. Record interest and fees. Keep track of your account
balance.
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Account Verification The bank: Reviews your credit and past
banking history. Checks your photo identification. Determines if
you can open an account. Now you can deposit your money!
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Deposit A deposit is money you add to your account using a
deposit slip.
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Balance The balance is the amount of money you have in your
bank account.
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Withdrawal A withdrawal is money you take out of your account
using: Checks Withdrawal slips ATMs Check/debit cards
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Whats a Fee?
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Fees Banks deduct fees from your account for: Certain services
(monthly maintenance fee). Penalties (for bouncing a check).
Slide 16
Interest Interest is a percentage of your balance that the bank
pays you for keeping your money at that bank.
Slide 17
Practice Exercise Instructions: Read the scenario Carl just
opened a bank account and deposited $500 cash. The next day, he
wrote a check to pay his electric bill for $70. At the end of the
week he received a paycheck for $870 and deposited it into his
account. What is the balance in Carls account after he made the
withdrawal and deposit?
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Deposit Accounts Accounts that let you add money to the
account: Checking accounts let you write checks to pay bills or buy
goods. Savings accounts always earn interest.
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Non-Deposit Accounts These accounts are NOT FDIC-insured.
Stocks Bonds Mutual funds
Slide 20
Additional Banking Services Direct deposit Money order Online
and telephone banking Automated Teller Machine (ATM)
Slide 21
Additional Banking Services Money transfer Debit card Stored
value cards Loan
Slide 22
Privacy Notices Notices that companies involved in financial
transactions must send you. They explain: What personal financial
information is collected. If they intend to share it. How to limit
the sharing. How your personal financial information is
protected.
Slide 23
Opting Out You can opt out by: Reading the privacy notice to
find out how. Calling 1-888-5-OPTOUT (1-888-567-8688). Visiting
www.optoutprescreen.com
Slide 24
Important Bank Employees Get to know these important bank
employees: Customer service representative Teller Loan officer
Branch manager
