Banking Chapter 14 What types of financial services might help you to better manage your cash flows?

Banking Chapter 14 Understanding the services provided by financial institutions will help you choose the best options to manage your money wisely.

automated teller machine (ATM) debit card commercial bank Banking Chapter 14 direct deposit automated teller machine (ATM) debit card commercial bank savings and loan association (S&L) credit union certificate of deposit (CD) money market account rate of return compounding annual percentage yield (APY) overdraft protection stop-payment endorsement bank reconciliation

Banking Chapter 14

Identify types of financial services. Banking Chapter 14 Section 1 Financial Services and Institutions Identify types of financial services. Describe the various types of financial institutions. Describe problematic financial businesses.

How to Manage Your Cash 14 Banking Section 1 Chapter 14 Section 1 Financial Services and Institutions How to Manage Your Cash

Types of Financial Services Banking Chapter 14 Section 1 Financial Services and Institutions Types of Financial Services Payment Services Savings Categories of Financial Services Other Financial Institutions Borrowing

Electronic Banking Services Chapter 14 Section 1 Financial Services and Institutions Electronic Banking Services Automatic Payments With authorization, funds are withdrawn from your account Make sure there are sufficient funds in your account Check your bank statement to make sure the transfer is correct Direct Deposit-automatic deposit of net pay to an employee’s designated bank account.

Electronic Banking Services Chapter 14 Section 1 Financial Services and Institutions Electronic Banking Services ATMs Automated Teller Machines Debit Card ATM Fees & Lost Debit Cards

Electronic Banking Services Chapter 14 Section 1 Financial Services and Institutions Electronic Banking Services Plastic Payments Electronic payments Online payments Stored-value cards Smart cards

Evaluating Financial Services Banking Chapter 14 Section 1 Financial Services and Institutions Evaluating Financial Services Questions to Ask Is it worth opening a checking account that has no fees—but does not earn interest, if you must keep a minimum balance? Would you trade the convenience of getting cash from the ATM near your office for lower ATM fees? Is a higher interest rate on a certificate of deposit worth giving up liquidity?

Types of Financial Institutions Banking Chapter 14 Section 1 Financial Services and Institutions Types of Financial Institutions Non-Depository Institutions Life Insurance Companies Investment Companies Finance Companies

Problematic Financial Businesses Banking Chapter 14 Section 1 Financial Services and Institutions Problematic Financial Businesses Be Careful of These Financial Businesses Pawn Shops Payday Loans Check Cashing Outlets Rent-to- Own Centers

Comparing Financial Institutions Banking Chapter 14 Section 1 Financial Services and Institutions Comparing Financial Institutions Where can you get the highest rate of interest on your savings? Where can you obtain a checking account with low (or no) fees? Will you be able to borrow money from the institution—with a credit card or another type of loan—when you need it? Do you need an institution that offers free financial advice? Is the institution FDIC- or SAIF-insured? Does the institution have convenient locations? Does it have online banking services? Does it have any special banking services that you might need?

Comparing Financial Institutions Banking Chapter 14 Section 1 Financial Services and Institutions Comparing Financial Institutions

14 Banking Section 1 Financial Services and Institutions Chapter 14 Section 1 Financial Services and Institutions Analyze why it might be worth a person’s time to open a checking or savings account at a bank rather than using a check-cashing outlet. Answers may vary but the students should realize that many banks offer free checking or savings accounts meaning you can cash a check for free.

Compare the costs and benefits of different savings plans. Banking Chapter 14 Section 2 Savings Plans and Payment Methods Compare the costs and benefits of different savings plans. Explain features of different savings plans. Compare the costs and benefits of different types of checking accounts. Use a checking account effectively.

Types of Savings Plans 14 Banking Section 2 Chapter 14 Section 2 Savings Plans and Payment Methods Types of Savings Plans

You can purchase Series EE Savings Bonds from the federal government. Banking Chapter 14 Section 2 Savings Plans and Payment Methods Types of Savings Plans You can purchase Series EE Savings Bonds from the federal government.

Types of Checking Accounts Banking Chapter 14 Section 2 Savings Plans and Payment Methods Types of Checking Accounts Checking Accounts Regular Checking Accounts Interest-Earning Accounts Activity Accounts

Using a Checking Account Banking Chapter 14 Section 2 Savings Plans and Payment Methods Using a Checking Account Check Register

Using a Checking Account Banking Chapter 14 Section 2 Savings Plans and Payment Methods Using a Checking Account

Using a Checking Account Banking Chapter 14 Section 2 Savings Plans and Payment Methods Using a Checking Account Information on Your Bank Statement Deposits Checks You Have Written ATM Withdrawals Debit Withdrawals Interest Earned and Fees

Using a Checking Account Banking Chapter 14 Section 2 Savings Plans and Payment Methods Using a Checking Account Other Payment Methods Certified Check Cashier’s Check Money Order Travelers Check Prepaid Travelers Cards Organizations

Financial Institutions and Your Money Banking Chapter 14 Section 2 Savings Plans and Payment Methods Financial Institutions and Your Money Banks make money by making loans. The amount of money a bank can lend is affected by the reserve requirement set by the Federal Reserve.

14 Banking Section 2 Savings Plans and Payment Methods Chapter 14 Section 2 Savings Plans and Payment Methods Consider whether you would prefer to have a separate checking and savings account, or an interest-earning checking account. Explain your decision. Sample answer: separate accounts, to avoid a minimum balance or for higher interest rates.

The Federal Reserve System Banking Chapter 14 The Federal Reserve System The Fed has the responsibility of monitoring the economy.

Banking Chapter 14

Banking Chapter 14

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