Chapter 5 The Banking System

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Chapter 5 The Banking System
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Chapter 5 The Banking System

What Banking Services Are Available to Consumers? Safe deposit boxes Overdraft protection ATMs Cashier’s checks Financial advising Loans Internet banking Bank cards 5-3 Banking Services and Fees Slide 2

What Are the Costs of Banking? Monthly account fees Nonsufficient fund fees Special service fees Examples: stop payment, cashier’s check, money order ATM fees Inactive account fees 5-3 Banking Services and Fees Slide 3

What Are Consumer Responsibilities? Maintain your balance. Avoid writing bad checks. Monitor your account. Reconcile your bank account. Know your rights. Be aware of consumer protection laws. 5-3 Banking Services and Fees Slide 4

Success Skills Negotiating It is the process of reaching an agreement that benefits both parties. Understand your position. Understand the other party’s position. Create a proposed solution. Identify what is important and what you are willing to give up. 5-3 Banking Services and Fees Slide 5

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