1. Mr. Stasa – Willoughby-Eastlake City Schools ©

2. Essential Question #8  In your opinion, how has technology improved and/or damaged the banking industry?

3. What is Electronic Banking?  Electronic funds transfer (EFT) is the electronic movement of money  EFT can accomplish the following:  Withdraws  Deposits  Bill payments  Transfers  EFT is completed by:  Smart phones  Computers  ATM  POS (Point of Sale Terminal) https://www.youtube.com/watch?v=GEAvIk9js5E

4. Debit Cards  Debit Cards withdraw money from the cardholders account when making payments  Plastic cards, which look like credit cards,  Used at POS or ATMs

5. Accessing Your Account  Debit cards require the use of PIN (Personal Identification Numbers)  A PIN is a 4-digit code that confirms an individual is authorized to access a particular account.  A PIN is used at  Automated Teller Machine (ATM) or  Point of Sale Terminal (POS)

6. POS  Point of Sale (POS) Terminals, are located at stores and allow the customer to use a debit or credit card to make a purchase  You may request cash back in addition to your payment amount https://www.youtube.com/watch?v=VdNvu F5UNq8

7. Debit or Credit?  When using your debit card as a debit transaction, you are required to enter your PIN (fees may be assessed)  When using your debit card as a credit transaction, you are required to provide your signature (the retailer pays the fee) http://wreg.com/2014/09/24/using-debit-cards-at-gas-pumps-can-cost-more- than-you-realize/

8. ATM  Automated Teller Machines (ATMs) offer automated, computerized banking  Transactions may include:  Deposits  Cash withdrawals  Transfers between accounts  Account balance information

9. http://www.youtube.com/watch?v=VHV_qymEjnA

10. Insufficient Funds (New in 2010)  Opt-in (by default)  If there are insufficient funds, the transaction will clear but the consumer will be charged $20-30 per transaction  Opt-out  The transaction will be declined, and no fee will be charged https://www.youtube.com/watch?v=1W2i-TOCY54

11. Online Banking What is it? What can you do? Completing certain transactions from a secured Internet site Use a username and password Access account information Transfer money Pay bills/set up recurring bill payment Apply for credit http://www.youtube.com/watch?v=KQbtSsK2NEk