Banks!

What is a bank? What is a bank: https://www.youtube.com/watch?v=CqD3hnjZBTM Main jobs of banks: Storing money Lending money

Are Banks safe? Top 5 Stupidest Bank Robbers: https://www.youtube.com/watch?v=UbVmePh6Fe8 If your money is stolen, lost, or the bank goes out of business, you are guaranteed to get your money repaid up to $250,000 per account The FDIC (Federal Deposit Insurance Corporation) is insurance promised by the government up to that limit

Comparing Payments There are lots of ways to pay for things! Cash Checks Debit Card Credit Card Gift Card Prepaid Card Directions: In partners or alone, complete the Comparison Chart in the Debit vs. Credit assignment

Checking your understanding Credit Debit Have students create a Venn Diagram together on the board to compare debit vs. credit cards.

Bank Skills: Depositing and withdrawing money Deposit: Put money into your bank account Withdraw: Take money out of your bank account You have to fill out some paperwork to deposit or withdraw money

Deposit Tickets Date: Today’s date, including year Name: Your full, legal name Account number: Your bank account number. To practice, pretend it’s “123456” Cash: Write the total amount of any coins or bills that you are depositing Checks: List the amount each check individually Subtotal: Cash deposit + check deposits Less Cash: If you want some cash to keep (instead of putting it into your account), write it here Total: Subtotal minus Less Cash lines. This is the amount that goes into your bank account.

Deposit Ticket Group Practice: Fill out this deposit ticket to show the students. You can choose the amounts, but be sure to use each line to show them what to do!  Then, pass out the Money and Check Print Outs paper and Deposit and Withdrawal Tickets papers to each student. Have them practice two with money amounts that they could actually make with their cash and check.

Withdrawal Group Practice: To take money out of your bank account, you must first have money in the bank account. Then, you can withdraw the money when you want to. Write the dollars and cents that you want to withdraw at the bottom. Show an example of a withdrawal slip and then let students practice withdrawing money from their bank account with the Deposit and Withdrawal Tickets.

Checks! You can use a check to pay people money out of your bank account. Never write a check for more money than you have in your account. The bank will charge you fees and whoever you wrote it to will be very upset!

Check Group Practice:

Pay your teacher $1,000,000! Have students come up and write each part of the check. Then, have them practice writing their own checks.

Bank Research Your job: Research bank options for you! Use your computers and the Bank Research papers. Research 3 local banks. For each bank, write down three services, unique qualities, or interesting facts about this bank Put this in your notebook when you are done