Final Part: Banking Services

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Presentation transcript:

Final Part: Banking Services Cashing checks, money orders It doesn’t cost you anything at your own bank

Electronic Transfer and Automatic Bill Payments Don’t have to worry about remembering to pay if money automatically come out of your account You still need to track your payments just in case

Direct Deposit Nowadays, many employers allow or require you to have your paycheck deposit directly into your bank account It is your responsibility to verify the paycheck is deposited

Bank Products that Produce Income Certificates of Deposit (CD) Higher interest than savings account Higher penalties if taken out early Can’t use money for a time Require higher deposit than savings account

Bank Products that Produce Income U.S. Savings Bonds You give a loan to the government and they pay you back plus interest after bond “matures”

Loans Borrowing money Owe back money plus interest

Other Bank Services Online Banking College Savings Plans Safe Deposit Boxes