Mrs. Swope Family and Consumer Science

Slides:

Advertisements

Similar presentations

Where to Stash Your Cash

Advertisements

Financial Literacy Skills

Financial Algebra © 2011 Cengage Learning. All Rights Reserved. Slide CHECKING ACCOUNTS Understand how checking accounts work. Complete a check register.

OBJECTIVES 3-1 CHECKING ACCOUNTS

Personal Finance.  Four common Financial Institutions  Commercial banks  Savings and loan associations (S&Ls)  Credit Unions  Brokerage Firms.

Chapter 29 Checking Accounts Opening an Account Writing Checks Keeping Records Endorsing Checks Reconciling 21 st Century Banking.

© Thomson/South-WesternSlideCHAPTER 231 BANKING AND CREDIT 23.1Financial Institutions 23.2Checking Accounts 23.3Credit and Its Use Chapter 23.

Teens 2 lesson six using banking services presentation slides 04/09.

$$$$$$$ Know your Money! Financial Institutions and Services.

Checking Accounts and Banking Services

© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 17 SLIDE Banks and Other Financial Institutions 17-2.

Checking Accounts. Things Not To Do Don’t write checks for more money than you have in your account. ▫You could be charged an overdraft fee by your financial.

Understand how checking accounts work. Complete a check register. Slide 1 OBJECTIVES.

(Usually have to be 18 years old to open & get ATM or debit card)

Money on demand! The Checking Account

Checking Accounts & Other Banking Services Business Department Mrs. Pollison.

Common payment services What are the common payment services provided by financial institutions? 1.

Banking: Checking Account What is a Checking Account? An account where money is deposited and kept for day-to-day expenses Also called demand deposit.

Checking Accounts. What is a Checking Account? 1.A checking account is a sum of money that you deposit in a bank or other financial institution, to hold.

BANKING SERVICES. Types of Financial Institutions Commercial Banks Savings and Loan Associations Credit Unions Brokerage Firms.

Checking Accounts Chapter 29.

Checking Accounts and Other Banking Services

Checks, Deposits, Registers, and Reconciliations.

Code of conduct Checking account Endorsement Blank endorsement Special endorsement Restrictive endorsement Postdated check Bank statement Dishonored check.

Ms. Smith. 1. Choose a bank. 2. Pick the product you want (individual or joint). 3. Provide your information. 4. Agree to terms. 5. Congratulate yourself!

Chapter 10 Banking.

Section 3.1 CHECKING ACCOUNTS. How do people gain access to money they keep in a bank?  How many of you have a savings account?  How many of you have.

CHAPTERS 9 & 10 WHERE TO STASH YOUR CASH. LEARNING TARGETS Students can… Explain how banks make a profit Identify types of checking accounts Fill out.

Financial Services and Institutions Name_____________________________ 1.

© 2003 SOUTH-WESTERN PUBLISHINGCHAPTER 23Slide 1 CHAPTER 23 BANKING AND CREDIT 23.1Financial Institutions 23.2Checking Accounts 23.3Credit and Its Use.

Financial Algebra © Cengage/South-Western Slide 1 BANKING SERVICES 3-1Checking Accounts 3-2Reconcile a Bank Statement 3-3Savings Accounts 3.

GOALS BUSINESS MATH© Thomson/South-WesternLesson 3.2Slide 1 3.2Electronic Banking Record electronic banking transactions Find account balance when banking.

Financial Algebra © 2011 Cengage Learning. All Rights Reserved. Slide CHECKING ACCOUNTS Understand how checking accounts work. Complete a check register.

Checking and Banking

Cash controls and banking activities

$0.01 $1 $5 $10 $25 $50 $75 $100 $200 $300 $400 $500 $750 $1,000 $5,000 $10,000 $25,000 $50,000 $75,000 $100,000 $200,000 $300,000 $400,000 $500,000 $750,000.

Checking Accounts and Banking Services

Chapter 5 Banking Financial Services and Institutions Section 5.1.

Chapter 9 Checking Accounts and Other Banking Services.

Prepared by Johnny Howard © 2015 South-Western, a part of Cengage Learning.

Prepared by Johnny Howard © 2015 South-Western, a part of Cengage Learning.

Chapter 4 Banking McGraw-Hill/Irwin Copyright © 2003 by The McGraw-Hill Companies, Inc. All rights reserved.

Using Bank Services Chapter 33. Checking Accounts A customer deposits money in an account and receives a book of checks. May deposit or withdraw money.

 Two types of banks – for profit bank and credit unions  Credit unions are local and member owned – not for profit – limited sometimes in services 

Unit 4: Banking Consumer Education Chapter 7. How Banks Work  Banks are a business; they work to earn a profit  Most profit comes from interest charged.

Consumer Education Chapter 7

Teens 2 lesson six using banking services presentation slides 04/09.

Banking Services: Savings and Payment Services

Banking Chapter 7 What types of financial services might help you to better manage your cash flows?

Chapter 4 Banking.

Two ways to protect cash:

Mrs. Swope Family and Consumer Science

Chapter 3 Banking Services

CHAPTER 5 The Banking System

Consumer Education Chapter 7

Financial Literacy Skills

Financial Institutions and Services

Chapter 10 Consumer Education.

17-2 Financial Services and Electronic Banking

Unit 3-1 CHECKING ACCOUNTS

Warmup 1. Using the Rule of 72, how long will it take to double your money if the interest rate is 6%? 2. If you have a starting balance of $500 and an.

Banking Services: Savings and Payment Services

using banking services

Teens 2 lesson six using banking services presentation slides 04/09.

using banking services

Banking Services & Savings

Checking Account Vocabulary

Entry Task Read Pg’s

Chapter 5 The Banking System

Presentation transcript:

Mrs. Swope Family and Consumer Science Banking Terms Mrs. Swope Family and Consumer Science

Banking Terms: ATM -(automatic teller machine), use an electronically encoded card with a PIN to conduct transactions from account. Bank statement - a monthly accounting of all transactions within an account provided by the bank. Check - a document for transferring money, also called a draft.

Cont. Check register - owner of the account’s record of all transaction within the account. Certificate of Deposit (CD) - a type of savings account where your money must be left in the account for a specified period of time. Debit card - immediately withdraws funds from checking account. Drawer - owner of the checking account. Payee - person/ organization the check is made payable to.

Cont. Deposit slip - a bank form that accompanies the deposit. Endorsement - signature on the trailing edge on the back of the check. (blank, restrictive, endorsement in full) EFT - electronic funds transfer, transfer funds between accounts through online banking. Outstanding check - a check that has not been cashed.

Cont. Overdraft - a check that has been written against an account with insufficient funds. It is illegal to knowingly write bad checks. Reconcile - to match the balance on the register with the bank statement. Service charge - fee paid to the bank for banking services.

Summary There are many financial institutions to choose from: Banks, Savings and Loans, Credit Unions, to name a few. Financial services vary from institution to institution. It is important to do some research and shop around. Appropriately using the financial services can help you reach your financial goals.