Introduction to Banking By : Evan Gee. Part 1: Benefits of Opening A Checking Account You can pay bills online. A checking account allows you to keep.

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Presentation transcript:

Introduction to Banking By : Evan Gee

Part 1: Benefits of Opening A Checking Account You can pay bills online. A checking account allows you to keep a record of your transactions. It’s Safe Paying with a check is easier It can help you with your credit

Part 2: Wells Fargo The first bank I chose was Wells Fargo. The ATM is open 24 hours out of the whole week. Fees are $7 with online-only statements($9 with paper statements) and with checkings it is $10 with online-only statements ($12 with paper statements) or savings it is $5. With discounted rates it is $30 or waived when requirements are met. Two months of free online bill pay, after that bill pay is $3 per month. Options to waive the checking monthly service fee like using a debit card for purchases and payments.

Part 2: Regions The second bank I choose was Regions bank. The ATM is open 24 hours a day. Some fees is subject to Iowa State sale tax of 6%. Some good benefits are convenience, Quicker funds availability, Reliability, and Environmentally friendly. If you take an auto loan you can only take out $2,000 to $100,000. If you take out a student loan you can only take out $1,000.

Part 2: Candence Bank The last bank I choose was Cadence Bank. The lobby is open 9:00am- 4:00pm on Mondays, On Thursdays 9:00 am, 5:00 pm on Fridays. The location of the bank is 3100 Mcfarland BLVD W Northport, AL Some benefits of this bank it has no fee, no minimum balance, and unlimited check writing. If you take out a loan you can have as much money as you need to fit your needs.

Part 3: Vocab ACH-Is an electronic network for financial transactions in the United States. ATM surcharge-additional fees tacked onto ATM withdrawals, in addition to built-in interchange fees. Available balance- Balances in checking or on-demand accounts where there is a delay in crediting funds to an account. Bill pay-Paying your bills. Checking account- A bank deposit against which checks can be drawn by the depositor. Debit card- A plastic card that resembles a credit card but functions like a check and through which payments for purchases or services are made electronically to the bank accounts of participating retailing establishments directly from those of card holders. Direct deposit- A plan in which salaries or other payments are transferred by the paying agency directly to the accounts of the recipients. Joint checking- Joining your account with somebody. Minimum balance- That a banking institution requires account holders to have their accounts each day in order to waive maintenance fees.

Additional Part 3 Online banking- Managing your bank account through the internet or through your phone. Overdraft protection-A line of credit that banks offer to their customers to cover their overdraft. Returned or bounced check charge- When a bad check is negotiated.