BANKINGBy: Chris Keyes3rd period

Federal Reserve System

•The system is to supervise and regulate member banks and to help banks serve the public efficiently

•The federal branch cities serve North Carolina

Examples

1. Build homes 2. Start new business 3. Plant crops4. Finance education5. Buy goods

difference between a Commercial Bank and a Credit Union?•A commercial bank are often called full

service banks because they offer a wide range of financial services

•A credit union accept saving deposits and make loans for a variety of purposes

List 4 Popular Banks in North Carolina1. Bb&t2. Bank of America3. First citizen Bank4. Wachovia Bank

What is EFT

•Eft is the use of computers and other technology for banking activities, including the use of automated teller machines which an example is an ATM machine

What is Automatic Bill Payment •It requires a bank customer to authorize

preset amounts of monthly expenses. The bank deducts the payment from your account and transfers them to the appropriate companies

List 4 Common Bank Fees

•1. Overdraft Shell Game Fees •2. Paper Fees •3. Courtesy-Overdraft Fees •4. Point-of-Sale Fees •5. Last-Minute Bill Pay Fee