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Introduction. Instructor and student introductions Module overview. Student Introductions. Your name Your expectations, questions, and concerns about banking. . Purpose. Bank On It : Is an overview of banking services.

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introduction
Introduction
  • Instructor and student introductions
  • Module overview

Bank On It

student introductions
Student Introductions
  • Your name
  • Your expectations, questions, and concerns about banking.

Bank On It

purpose
Purpose

Bank On It :

  • Is an overview of banking services.
  • Will help you build a positive relationship with banks, thrifts, and credit unions.

Bank On It

objectives
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.

Bank On It

objectives continued
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.

Bank On It

agenda and ground rules
Agenda and Ground Rules
  • 60 – 90 minutes long
  • One 10-minute break
  • Training methods
  • Class participation

Bank On It

slide8
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
Why Keep Money in a Bank?
  • Safety
  • Convenience
  • Cost
  • Security
  • Financial future

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types of financial institutions
Types of Financial Institutions
  • Banks
  • Credit unions
  • Thrifts

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opening and maintaining a bank account
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
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
Deposit

A deposit is money you add to your account using a deposit slip.

Your Name

Your Address

Your Phone Number

CURRENCY

COIN

DATE

DEPOSITTICKET

DEPOSITS MAY NOT BE AVAILABLE FOR IMMEDIATE WITHDRAWAL

OR TOTAL FROM REVERSE

SIGN HERE IF CASH RECEIVED FROM DEPOSIT

SUBTOTAL

YOUR FINANCIAL INSTITUTION

YOUR CITY, CA 92453

LESS CASH RECEIVED

DO NOT USE FOR AUTOMATIC PAYMENT OR CHECK TRANSACTIONS

NET DEPOSIT

:000000 : 12345 67890.:

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balance
Balance

The balance is the amount of money you have in your bank account.

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withdrawal
Withdrawal

A withdrawal is money you take out of your account using:

  • Checks
  • Withdrawal slips
  • ATMs
  • Check/debit cards

Bank On It

slide16
Fees

Banks deduct fees from your account for:

  • Certain services (monthly maintenance fee).
  • Penalties (for bouncing a check).

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interest
Interest

Interest is a percentage of your balance that the bank pays you for keeping your money at that bank.

Bank On It

practice exercise
Practice Exercise

Instructions:

  • Read the scenario.
  • Answer the question.

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deposit accounts
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
Non-deposit Accounts

These accounts are NOT FDIC-insured.

  • Stocks
  • Bonds
  • Mutual funds

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additional banking services
Additional Banking Services
  • Direct deposit
  • Money order
  • Online and telephone

banking

  • Automated Teller

Machine (ATM)

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additional banking services continued
Additional Banking Services(Continued)
  • Money transfer
  • Debit card
  • Stored value cards
  • Loan

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privacy notices
Privacy Notices

Notices 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.

Bank On It

opting out
“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.

Bank On It

important bank employees
Important Bank Employees

Get to know these important bank employees:

  • Customer service representative
  • Teller
  • Loan officer
  • Branch manager

Bank On It