1. Banking Addressing Standard 2.0
TSW: Evaluate best practices for successful money management.

2. Read & Absorb & Apply
You will read (interact) 2 short lessons on banking
Bank On It
Check It Out
You will compete in a Round Robin Competition

3. FDIC Money Smart for Young Adults
Bank On It
FDIC Money Smart for Young Adults
Building: Knowledge, Security, Confidence

4. Welcome to Bank On It!
Why do you want to learn about the services and functions of a bank?
To choose the one that’s right for you when the time comes
To take the right steps to open a bank account
To determine the right person to talk to at the bank when you need different services

5. Objectives Identify the major types of insured financial institutions
Identify five reasons to use a bank
Describe the steps involved in opening and maintaining a bank account
Describe two types of deposit accounts
Identify additional bank services that come with deposit accounts
Describe the main functions of the bank customer service representative, teller, loan officer, and branch manager

6. Checking Account in Bank vs. Satin Bag in Drawer

7. What Do Banks Do?
They’re businesses that offer a safe place to keep money
Use deposits to make loans
Also called financial institutions
Offer many financial services

8. Why keep your money in a bank?
Safety
Convenience
Lower cost
Security
Build your financial future

9. Types of Financial Institutions
Bank
Credit Union
Thrift (or savings and loan)

10. How Do I Open a Bank Account?
Your bank should meet your needs, so ask yourself:
Click Pic
& Read
What services does it offer?
Is it near my home?
Where are its ATMs?
What are the fees for different accounts?
Is it insured by the FDIC?
Suggested changing top question to: How Do I Know What Bank is Right for Me?. If that is too big a change, add to the slide content question the phrase: “about the bank” as in “You should ask yourself several questions about the bank, including:”
JK: I kept the question since it matches the lesson, but changed the “Before you open….” wording.

11. Banking Terms Deposit Withdrawal Balance Fees Overdraft
put money in the bank
Withdrawal
take money out of the bank
Balance
how much money you have in the bank
Fees
money charged for services
Overdraft
withdrawing more money than you have in your account
WIN, LOSE, or DRAW

12. WIN, LOSE, or DRAW Form 2 Groups Teacher will give instructions On Go:
Student from each group will complete task
You will get 30 sec. to prepare
How to get points
Best interpretation wins (teacher is judge)
Team that wins gets Extra Credit

13. What Is Account Verification?
Proving your identity and showing your readiness to open an account with identification such as:
Photo ID, state-issued ID card
Passport
Driver’s license
SSN, ITIN
Changed dash from keyboard dash to symbol to be consistent with other slides..

14. Depositing Money Use a deposit slip
A deposit slip tells the bank how much money you are adding

15. Deposit Accounts Checking accounts Savings accounts
Write checks to pay bills or buy goods or services
Linked to an ATM/Debit card
Savings accounts
Earn more money on your deposits
Usually use money only on things you saved for
Can be linked to an ATM/Debit card

16. Other Banking Services
Direct deposit
Money orders
Electronic (phone and online) banking
ATMs
Money transfers
Debit cards and stored value cards
Loans

17. Important Bank Employees
Branch Manager
Loan Officer
Bank Teller
Customer Service Representative

18. CONCLUSION: Checking Account in Bank vs Satin Bag in Drawer

19. Checking Your Balance
Congratulations! You have completed the Bank On It module. You have learned about:
Types of insured financial institutions
Basic banking terms
How to open and maintain a bank account
Types of accounts and services
Bank employees and their roles
Changed dashes to symbols to be consistent with other slides.–

20. Check It Out FDIC Money Smart for Young Adults
Building: Knowledge, Security, Confidence

21. Better Money Management
Having a checking account lets you:
Keep a record of “transactions”
Build a positive relationship with your bank

22. Safety Having a checking account:
Is safer than carrying large amounts of cash
Protects your checks and check card if they are lost or stolen
Means your money is insured up to the maximum amount allowed by law

23. Types of Checking Accounts
Free/low-cost checking
Electronic/ATM checking
Regular checking
Interest checking
Images changed

24. Fee Schedule Some common bank fees include: Monthly service fee
Minimum balance fee
Automated Teller Machine (ATM) user fee
Overdraft fee
Stop payment fee

25. Needed to Open a Checking Account
Photo ID
Social Security number (SSN)
Or Individual Taxpayer Identification Number (ITIN)
A deposit

26. The Checkbook
Contains:
Checks
Deposit slips

27. Sample Checks Best Tees 19.75 Nineteen and 75/100 shirt Your signature
2/26/20XX
Best Tees
19.75
Nineteen and 75/100
shirt
Your signature

28. “Bad” or NSF Check
A check you write when there isn’t enough money in your checking account to cover it
Also called a “bounced check”

29. Consequences of Writing Bad Checks
Bad check fees
Negative activity reported
Bank closes your account
Civil and/or criminal prosecution
Merchants may not accept your checks
Your credit may be impacted

30. Electronic Banking ATM transactions Debit card transactions
Electronic bill pay

31. Debit Card A debit card lets you: Be careful!
Deposit and withdraw money
Make purchases at retail locations
Be careful!
The money is immediately taken out of your account

32. Electronic Bill Pay Automatically pays your bills from your account
No postage
No late payments
Also pay bills online

33. Add Money to Your Checking Account
Cash or check deposit using the teller service
ATM deposit
Deposit by mail
Direct deposit
Image changed

34. Sample Deposit Slip
3/22/20XX

35. Sign the Back of the Check
DO NOT WRITE, STAMP OR SIGN BELOW THIS LINE
RESERVED FOR FINANCIAL INSTITUTION USE *
ENDORSE HERE
When depositing a check that has been made out to you, you MUST sign the back and place your account number underneath the signature.

36. ENTER TOTAL ON THE FRONT OF THIS TICKET
Sample Deposit Slip Front and Back
ENTER TOTAL ON THE FRONT OF THIS TICKET

37. ATM Deposits Like an ATM withdrawal Use the special deposit envelope
Take the receipt
Image altered

38. Mail Deposits Include a deposit slip with the check
NEVER send cash through the mail

39. Direct Deposit Directly into your checking account
Your money is available immediately
Safe
Easy to sign-up

40. Checking Account Statement
A monthly report from your bank listing:
Checks you wrote
Withdrawals and deposits
Debit card purchases
Bank fees

41. ? = Reconciling Your Checking Account Does…
Just like doing a budget→ both should balance out

42. Check It Out!
Congratulations! You have completed the module. You have learned:
The benefits of using a checking account
Which checking account is best for you
The steps involved in opening a checking account
How to add and withdraw money from a checking account
How to reconcile a check register with a bank statement

43. What Next???... Put your new knowledge to work Round Robin Activities
You will have 5 stations to complete (10min ea)
Staple & Submit work to bin pts