Online Banking pp. 182-187 4-6 SECTION. Click to edit Master text styles Second level Third level...

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Transcript of Online Banking pp. 182-187 4-6 SECTION. Click to edit Master text styles Second level Third level...

Online Banking pp. 182-1874-6SECTIONSECTION

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Section ObjectiveSection ObjectiveCompute:

• online banking charges

Update:

• the check register

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online banking (p. 182)

Doing bank transactions, such as loan payments and funds transfers, electronically over the Internet.

Key Words to KnowKey Words to Know

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Total Fees = Basic Charge + Bill Payments + Statement + ATM Surcharge + Cash Advance Fee

FormulaFormula

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How might online banking affect Pinsky’s knowledge of the money in Fleet Footed’s bank account?

Fleet Footed Finances p. 182Fleet Footed Finances p. 182

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Tiwana Gombash uses the online banking plan shown below. She pays the basic charge, 7 bills, plus she requests a printed statement. She also has ATM transactions, including 1 out-of-network, and a cash advance of $400.00.

What are her total fees for the month?

Example 1Example 1

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Figure 4.14Figure 4.14

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Step: Add the fees.

Basic Charge + Bill Payments + Statement + ATM Surcharge + Cash Advance Fee

$6.95 + $0.50 (7-5) + $4.00 + $3.00 + (2% × $400)

$6.95 + $1.00 + $4.00 + $3.00 + $8.00 = $22.95

Example 1 AnswerExample 1 Answer

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Use Tiwana Gombash’s online banking plan above above to calculate the fees.

Service: Basic charge, 11 bills paid, printed statement, International wire transfer.

ATM: 2 regional, 1 national, $700 cash advance online banking fee?

Practice 1Practice 1

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Practice 1 AnswerPractice 1 Answer

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Use Tiwana Gombash’s online banking plan above above to calculate the fees.

Service: Basic charge, 18 bills, 1 overdraft.ATM: 4 national, 2 out of network, cash advance of $200..

Practice 2Practice 2

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Practice 2 AnswerPractice 2 Answer

Online Banking4-6END OF SECTIONEND OF SECTION