ATM and Debit Cards Their similarities, differences, what’s good and bad.

Slides:

Advertisements

Similar presentations

KaChing!, Lesson 3: Cash the Check and Track the Dough

Advertisements

Money Management Key Terms.

1.7.2.G2 Electronic Banking Trivia G2 © Family Economics & Financial Education – Revised February 2008 – Financial Institutions Unit – Electronic.

Jeopardy – Review Column 1Column 2Column 3Column 4Column 5 $100 $200 $300 $400 $500.

Oklahoma’s Personal Financial Literacy Passport © Oklahoma State Department of Education. All rights reserved. 1 Teacher Presentation Series 4 Standard.

Unit 1: Lesson 2.  For many Americans, debit cards are quickly replacing personal checks as a means of making payments. Students should be able to recognize.

Warm-up: April 11 What’s the difference between a checking and savings account?

Checking Accounts Checking Accounts.

Checking Maintaining a checking account is a necessary skill to master before living independently.

Carl Johnson Financial Literacy Jenks High School.

Checking Account & Debit Card Simulation

Banking Basics. Getting the idea Banks have different types of accounts for your money. A bank account earns interest if the bank pays you an additional.

Bank On It Personal Finance Unit. Why Learn About Banking?

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

Chapter 3, Section 2 Checking Accounts.

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

Managing a Bank Account Tracking Your Money Test Review.

Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE1 CHAPTER Banks and Other Financial Institutions Financial Services.

Finding Financial Services Review. A financial institution that provides compensation in case of a disaster or accident.

Unit 5 BANKING –Banking Basics

Do Now: Banking Basics By the end of this block you should have an understanding of personal banking services and how they can benefit you.

Check It Out 1. 2 Introductions Instructor and student introductions Module overview.

Credit Card vs. Debit Card. Debit Cards Also called “check cards” –Works just like writing a check Deducts money from your checking account.

Review Lesson One What are 4 examples of financial institutions?

Check It Out 1. 2 Purpose Check It Out will teach you how to use a checking account responsibly.

Instructions for using this template. Remember this is Jeopardy, so where I have written “Answer” this is the prompt the students will see, and where.

Banking and Finance Business and Computer Science Mr. Dukes.

Oklahoma’s Personal Financial Literacy Passport

Financial Literacy Vocabulary Terms How is money used in society? How do I pay for goods and services? How do I keep track of my saving and spending? 1.

CHECKING, SAVINGS, AND INVESTING MANAGING YOUR MONEY.

Chapter © 2010 South-Western, Cengage Learning Checking Accounts and Banking Services Banking Services and Fees 9.

© Oklahoma State Department of Education. All rights reserved. 1 Tracking Your Money Standard 4. Managing a Bank Account.

1.7.2.G1 © Family Economics & Financial Education – Revised February 2008 – Financial Institutions Unit – Electronic Banking Funded by a grant from Take.

Bank On It 1. 2 Purpose Bank On It : Is an overview of banking services. Will help you build a positive relationship with banks, thrifts, and credit unions.

Checking Accounts Chapter 29.

1.7.2.G1 © Family Economics & Financial Education – Revised May 2009 – Financial Institutions Unit – Electronic Banking Funded by a grant from Take Charge.

How do you write a check? Mr. SmithDate ____________ Any street Any City, State Amount____________ Amount____________ Pay to the order of ____________________________________.

 For thousands of years, people have used some sort of currency or type of money to pay for things they want. Different countries and cultures have used.

Chapter 3, Section 3 ELECTRONIC BANKING.

Money Management Key Terms. Money Management Paycheck Key Terms.

Chapter 10 Banking.

Indiana Department of Financial Institutions BANK ON IT Money Smart Course.

2 You Will Know Major types of insured financial institutions Basic banking terms Differences between banks and check-cashing services Bank employees.

© Family Economics & Financial Education – May 2006 – Get Ready to Take Charge of Your Finances – Checking Account & Debit Card Simulation Funded by a.

BALANCING A CHECKBOOK This lesson will teach you the importance of balancing a checkbook.

Banking Vocabulary.

 A place you put money that you spend quickly  Not money intended for saving  Monthly statement sent to your house by the bank.

What does this mean to you?. FCS 7 TH GRADE Money Management.

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.

* Do you have a checking account or credit card that you pay for? Do you know how to manage a checking account or credit card? * Please put your responses.

Junior Achievement 3.3 “Make It Count”. Let’s review our vocabulary:

Banking: Managing your money Chapter 4 Part 2. Saving Accounts May save money for a specific purpose or just build to reserve for a rainy day, you may.

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

Check It Out 1. 2 Introductions Instructor and student introductions Module overview.

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

September 28, 2011 Objective: Students will identify the purpose of a checking account.

Credit Cards Spend…Spend…Spend. UEQ and LEQ UEQ: How can JA Finance Park teach you to use financial institutions to your benefit? LEQ: What is a Credit.

Why should you have a checking account?. What is an “ATM”? Automated Teller Machine- ATMs have several functions, such as allowing the account holder.

Checking Account & Debit Card Simulation Understanding Checking Accounts and Debit Card Transactions.

Tracking Your Money Module 4.1. Vocabulary Check: a legal written document directing a financial institution to pay out funds from a specific account.

Fri. 4/15. Ch. 10 Money and Banking 10.3 Notes “Banking Today”

Checking account - an account held at a bank, credit union or other financial institution in which account owners deposit funds. Account owners have the.

How to Write Checks and Balance Accounts. Checking Account An account at a bank against which checks can be drawn by the account depositor Check – A document.

Do Now Why do people have checking accounts?. Unit 4: Lesson 13: Checking Accounts Day 1 Objective: identify vocabulary terms related to checking accounts.

Unit 4: Savings & Checking Accounts. Plan for the Unit... So far ▪ Day 1: Vocabulary & Vocabulary Comp Check and Start Building the.

Chapter 14. Banking  Do Now  What do you think banks will be like in 15 years?

PRE- TEST #1 What is the function of the Federal Reserve System?

Credit, Debit, and ATM Cards

Vocabulary for March 27-Mar. 31

Presentation transcript:

ATM and Debit Cards Their similarities, differences, what’s good and bad.

UEQ and LEQ UEQ: How can JA Finance Park teach you to use financial institutions to your benefit? LEQ: How does using a debit card differ from using a ATM card?

Vocabulary ATM Card Credit Card Credit Debit Debit Card “Buy Now, Pay Now”

Class: Think/Pair/Share Today many Americans use two kinds of cards, ATM Cards and Debit Cards. Think about both cards and what you think they are and what their purpose is. – Come up with a definition for both cards. – Where can both be used? (Specifics) – Think of some risks for each card.

Debit Cards Pre-Quiz Know anything about debit cards? Complete page 6 in your textbook.

Corrections Read over page 7 to find the correct answers, underline where the correct answer is for each. TrueFalse 1)X 2)X 3) X 4)X 5)X 6)X 7) X 8) X 9) X

The ATM: What is It???

ATM Definition ATM (Automated Teller Machine) – Money transactions in places other than banks – Requires ATM Card and Pin Number – Access to personal bank accounts – Used less, many not accepted in businesses

ATM Card Only used in ATM machine No credit card logo Purchase must be made in person

The Debit Card: What is It??? Why Have Them? ATMS in Other Countries

The Debit Card Quickly replacing checks Can be used in most locations and ATM machines Easy to use and track records, subtract amount used from personal account(s)

What is the Message? Are they dangerous? What problems are created by having and using both cards? ATM Nightmare

The Check: What is it??? Way of paying a bill (main way) Must be filled out properly to be accepted.

Your Records Check Register – Given to you by a financial institution to keep track of all purchases, bills, and deposits. Keeping Your Books Balanced

Number DateTransaction DescriptionPayment/DebitDeposit/Credit$ Balance Marpaycheck deposit Marwater company Marpower company MarCentral Bank MarCorner Market Mardividend check MarVOID check # MarCentral Bank Marwithdrawal AprPacific Hardware AprState Ranch

Summarize Points What are some reasons why people use ATM Cards and Debit Cards? What can be the dangers of having and using both cards? What is the purpose of keeping a check register and actually using it?