Bank On It!!!!!

Why Keep your money in a Bank? List five reasons why you may decide to keep your money in a Bank! (Remember the five reasons from the Peardeck activity) Financial Institutions Name the two Major types financial institutions (Remember the two from the Peardeck activity): Opening and Maintaining a Bank Account The steps in the table below are mixed up. Place the four steps in the correct sequence from beginning to end on the right! Record interest and Fees Open the account Keep track of your balance Make deposits and withdrawals Open the account Record Interest and Fees Make deposits and withdrawals Keep track of your balance When opening a bank account, you need to provide the bank with information necessary to verify who you are. What are five necessary items to verify your identity? Basic Banking Terms Match the word with its definition! Deposit Put money into your account Withdrawal Take money out of your account Balance The amount of money you have in your account Fees Money charged by the bank for different services Overdraft Programs Options in the event you overdraw your account Different Types of Bank Accounts Choose which type of bank account each description represents: Checking Account You will receive a monthly bank statement Compare the rules of the different checking accounts Allow you to pay bills and buy goods by using checks and or an ATM or debit card Savings Account You are paid interest You cannot write checks You can open an account with few dollars You are able to review your account statement Non-Deposit Account Examples are stocks, bonds, and mutual funds Not insured by the FDIC Could lose some or all of the money that you invest in products Additional Banking Services Choose the banking service that matches the description below: Money transfers Remittances ATMs Telephone banking Direct Deposit Loans Debit Cards Stored Value Cards Online banking Money orders Important Bank Employees Sort the different responsibilities for each Bank Employee Bank Teller Deposit your money for you Cash your checks Loan Officer Take applications for loans offered at the bank Provide written information explaining loan products Help you fill out a loan application Branch Manager Help fix the problems that other employees cannot solve Supervise all the bank operations that take place at this branch Customer Service Representative Help you open your account Explain Services Provide written information explaining the bank