1. Chapter © 2010 South-Western, Cengage Learning Checking Accounts and Banking Services 9.2 9.2Banking Services and Fees 9

2. © 2010 South-Western, Cengage Learning SLIDE 2 Chapter 9 Banking Services A full-service bank offers many services Savings Accounts Checking accounts Credit cards Safe deposit boxes Loans ATM

3. © 2010 South-Western, Cengage Learning SLIDE 3 Chapter 9 Debit Cards A debit card is a plastic card that deducts money from a checking account. When a debit card is used, the amount of the purchase is quickly deducted from the customer’s checking account and paid to the merchant.

4. © 2010 South-Western, Cengage Learning SLIDE 4 Chapter 9 Bank Credit Cards You can apply for a bank credit card, such as a Visa or MasterCard. If you meet the requirements, you can use it instead of cash at any business that accepts credit cards. This money is a loan and MUST be repaid. If you charge over the limit on your credit card or pay late you will have to pay a fee

5. © 2010 South-Western, Cengage Learning SLIDE 5 Chapter 9 Automated Teller Machines An Automated Teller Machine is often called an ATM. To use ATMs, you must Have a debit card Know your personal identification number (PIN) Getting cash is a common ATM transaction. Using a debit card you can withdraw cash from your checking or savings account.

6. © 2010 South-Western, Cengage Learning SLIDE 6 Chapter 9 Online and Telephone Banking Online and telephone banking services give you the ability to access your accounts. Services include: Transferring money Paying bills Getting account balances Seeing which checks have cleared and which deposits have been entered

7. © 2010 South-Western, Cengage Learning SLIDE 7 Chapter 9 Online and Telephone Banking Most banks also allow and encourage electronic transfers of money. An electronic funds transfer (EFT) uses a computer-based system that enables you to move money from one account to another without writing a check or exchanging cash. (continued)

8. © 2010 South-Western, Cengage Learning SLIDE 8 Chapter 9 Bank Fees Banks charge fees to their customers to help cover their operating costs. Shop around and find the account that is right for you. Be aware of the rules of your account, so that you don’t violate them and be required to pay high fees.

9. © 2010 South-Western, Cengage Learning SLIDE 9 Chapter 10 Direct Deposit With direct deposit, your net pay is deposited electronically into your bank account.