Bank On It 1
Bank On It 2
Introduction
• Instructor and student introductions
• Module overview
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Student Introductions
• Your name • Your expectations, questions, and
concerns about banking.
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Purpose
Bank On It :• Is an overview of banking services. • Will help you build a positive relationship
with banks, thrifts, and credit unions.
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Objectives
By the end of this module, you will be able to:• 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.
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Objectives (Continued)
• 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.
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Agenda and Ground Rules
• 60 – 90 minutes long• One 10-minute break• Training methods• Class participation
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Bank
A business that:• Offers you a safe place to keep your
money.• Uses your deposits to make loans. • Provides a variety of services.
Also called a financial institution.
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Why Keep Money in a Bank?
• Safety• Convenience• Cost• Security• Financial future
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Types of Financial Institutions
• Banks• Credit unions• Thrifts
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Opening and Maintaining a Bank Account
Steps:• Open the account and go through account
verification.• Make deposits and withdrawals.• Record interest and fees.• Keep track of your account balance.
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Account Verification
The bank:• Reviews your credit and past banking
history.• Checks your photo identification.• Determines if you can open an account.
Now you can deposit your money!
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Deposit
A deposit is money you add to your account using a deposit slip.
Your NameYour Address
Your Phone Number
DEP
OSI
T TIC
KET
DATE DEPOSITS MAY NOT BE AVAILABLE FOR IMMEDIATE WITHDRAWAL
SIGN HERE IF CASH RECEIVED FROM DEPOSIT
YOUR FINANCIAL INSTITUTIONYOUR CITY, CA 92453DO NOT USE FOR AUTOMATIC PAYMENT OR CHECK TRANSACTIONS
:000000 : 12345 67890.:
CURRENCY
COIN
OR TOTAL FROM REVERSE
SUBTOTAL
LESS CASH RECEIVED
NET DEPOSIT
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Balance
The balance is the amount of money you have in your bank account.
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Withdrawal
A withdrawal is money you take out of your account using:• Checks• Withdrawal slips• ATMs• Check/debit cards
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Fees
Banks deduct fees from your account for:• Certain services (monthly maintenance
fee).• Penalties (for bouncing a check).
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Interest
Interest is a percentage of your balance that the bank pays you for keeping your money at that bank.
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Practice Exercise
Instructions:• Read the scenario.• Answer the question.
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Deposit Accounts
Accounts that let you add money to the account:• Checking accounts let you write checks to
pay bills or buy goods.• Savings accounts always earn interest.
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Non-deposit Accounts
These accounts are NOT FDIC-insured.• Stocks• Bonds• Mutual funds
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Additional Banking Services
• Direct deposit • Money order • Online and telephone
banking • Automated Teller
Machine (ATM)
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Additional Banking Services(Continued)
• Money transfer• Debit card • Stored value cards• Loan
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Privacy NoticesNotices that companies involved in financial transactions must send you. They explain:• What personal financial information is collected.• If they intend to share it.• How to limit the sharing.• How your personal financial information is protected.
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“Opting Out”
You can opt out by:• Reading the privacy notice to find out how.• Calling 1-888-5-OPTOUT (1-888-567-
8688). • Visiting www.optoutprescreen.com.
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Important Bank Employees
Get to know these important bank employees:• Customer service representative• Teller• Loan officer• Branch manager
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