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Banking Basics

Banking Basics

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Banking Basics

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  1. Banking Basics Megabyte Money

  2. Chapter 4: Get Smart About Megabyte Money How To Do Your Banking

  3. High Tech Money • What is the newest medium of exchange and what did it replace? • What is e-commerce? • What is EFT? Identify 3 things EFT enables you to do. • Read page 11 and write answers to the questions above.

  4. Examples of Megabyte Money • What is an ATM? Identify 4 things that you can use an ATM to do. • Identify 2 differences between a debit and a credit card. • What is a stored value card? • What basic banking tasks can be completed either online or over the telephone? • What is online bill paying? • Read “Examples of Megabyte Money” pages 12-13 and answer the questions above.

  5. Check 21 Conversion • In “the good old days” how did a check get from the place it was deposited to the financial institution that paid it? • What is Check 21? • What is a substitute check? • Who may convert a paper check to a substitute check? • After being converted to a substitute check, what happens to your paper check? • Read “Check 21 Conversion” pages 13-14 and answer the questions above.

  6. Electronic Check Conversion • Who may convert a paper check to an electronic check? • What information from a paper check is needed when converting to an electronic check? • After being converted to an electronic check, what happens to your paper check? • How does Check 21 differ from electronic check conversion? • Read “Electronic Check Conversion” page 14 and answer the questions above. • Submit answers to questions 1-17 to the appropriate location.

  7. Check life cycle • Watch the “The Checks in the Mail” The check's in the mailThe check is in the mailAnd it ought to be there Tuesday without failIf you have got a bill to payOr something you need to buyJust write the checkand send it off in the mail

  8. Check life cycle • Either on your own or with 1 partner, create the life cycle of a check according to the following specifications: • You may create the life cycle on the computer or by hand. See me for supplies if necessary. • The life cycle must contain a title, your name(s), and the date. • The life cycle must explain the 10 stages located at http://www.easternsavingsbank.com/Deposit%20Accounts/Images/kcoct07.pdf in your own words. Each stage must also be numbered. • The life cycle must contain a graphic and a directional arrow for each of the 10 stages. • Print and/or submit the life cycle to the appropriate place.

  9. Check life cycle rubric

  10. How to use an atm • Read about using an ATM on page 15. • Use Word to create a 1 page newsletter about ATMs according to the following specifications: • The newsletter is formatted into 2 horizontally justified columns with a vertical line between them. The newsletter has a WordArt title at the top that spans both columns. All margins are 1”. • The newsletter has 2 articles written in your own words and keyed in a 12 point font. The 1st article describes how to use an ATM and the 2nd article describes ATM safety/security issues. Each article has a title. • The newsletter has no more than 2 graphics that use square or tight text wrapping. • Your name and the date are keyed in a textbox with borders placed at the end of the newsletter. • Print and submit newsletter to the appropriate place.

  11. Atm newsletter check list ATM Newsletter Check List