Copyright © Cengage Learning. All rights reserved Recent Changes in the Banking Industry Financial Services Modernization Banking Act (1999 ) –Allows banks.

Slides:



Advertisements
Similar presentations
Bank Provided Services Consumer Economics Graduation Requirement Senior Seminar
Advertisements

1.7.2.G2 Electronic Banking Trivia G2 © Family Economics & Financial Education – Revised February 2008 – Financial Institutions Unit – Electronic.
Money and Banking. The Functions and Characteristics of Money.
 Also Known as the FED  Known as the “Central Bank” of the United States  Main Function: controlling money supply through monetary policy  Other Functions:
Bank On It Personal Finance Unit. Why Learn About Banking?
Personal Finance.  Four common Financial Institutions  Commercial banks  Savings and loan associations (S&Ls)  Credit Unions  Brokerage Firms.
Bank On It.
© Thomson/South-WesternSlideCHAPTER 231 BANKING AND CREDIT 23.1Financial Institutions 23.2Checking Accounts 23.3Credit and Its Use Chapter 23.
Managing a Bank Account Tracking Your Money Test Review.
$$$$$$$ Know your Money! Financial Institutions and Services.
Chapter Outline A Typical Foreign Exchange Transaction Forfaiting
Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE1 CHAPTER Banks and Other Financial Institutions Financial Services.
Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved INTERNATIONAL FINANCIAL MANAGEMENT EUN / RESNICK Fourth Edition.
Chapter Nineteen Understanding Money, Banking, and Credit.
7.00 Explain the importance of banking among government, business, and the consumer.
1. Explain the difference between “commodity” and “fiat” money. 2. Because the melt value of a pure copper penny is $.03, how are pennies now made?
© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 17 SLIDE Banks and Other Financial Institutions 17-2.
Financial Services & Electronic Banking Ch PoB 2011.
Mr. Stasa – Willoughby-Eastlake City Schools ©. Essential Question #8  In your opinion, how has technology improved and/or damaged the banking industry?
Banking and Financial Services
© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 17 SLIDE Banks and Other Financial Institutions 17-2.
Financial Literacy Vocabulary Terms How is money used in society? How do I pay for goods and services? How do I keep track of my saving and spending? 1.
Chapter © 2010 South-Western, Cengage Learning Checking Accounts and Banking Services Banking Services and Fees 9.
Bank On It 1. 2 Purpose Bank On It : Is an overview of banking services. Will help you build a positive relationship with banks, thrifts, and credit unions.
Chapter 10 Money and Banking.
Chapter Sixteen Understanding Money, Banking, and Credit.
© 2012 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Key to the Future Chapter 1, Lesson 2 Warm-Up Questions CPS Questions Note for teacher: Use “Pick a Student” button in CPS.
Chapter 10 Section 3.  Service 1: Customer Can Store Money  Banks store currency safely  Insured against failure  Safety deposit boxes  Service 2:
Section 2 17 Chapter Financial Services & Electronic Banking.
PowerPoint Presentation by Charlie Cook Copyright © 2005 Prentice Hall, Inc. All rights reserved. Chapter 14 Understanding Money and Banking.
© 2007 Prentice Hall, Inc. All rights reserved.15–1 Chapter 15 Money and Banking.
PFIN 4 Managing Your Cash and Savings 4 Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a.
Chapter 10: Money and Banking Section 3
Chapter 3, Section 3 ELECTRONIC BANKING.
Money and Banking  1. Median of Exchange= any items that sellers accept as payment.  2. Standard of Value= a way to measure the relative value of goods.
Innovations in Modern Banking
Objective 4.02 Understand the banking system Classification of financial institutions.
Chapter 10 Banking.
Banking Math 10 Essentials. Banking Transactions A bank is an financial institution which deals with cash, domestic and foreign, receives and stores deposits.
Personal & Business Record Keeping Concept 3. LEQ 1 What are the basics of record keeping for personal and business accounts?
2 You Will Know Major types of insured financial institutions Basic banking terms Differences between banks and check-cashing services Bank employees.
Banking How banks work along with checking accounts.
Do Now In a few sentences, describe the barter system. What are its advantages and disadvantages? If you had to function within a barter system, what would.
Banking Services and Types of Money. Let’s look at some of the services offered by banks… Savings Account: Pays interest, has no maturity date, and from.
Section 5.1 Financial Services and Institutions
* Do you have a checking account or credit card that you pay for? Do you know how to manage a checking account or credit card? * Please put your responses.
© 2003 SOUTH-WESTERN PUBLISHINGCHAPTER 23Slide 1 CHAPTER 23 BANKING AND CREDIT 23.1Financial Institutions 23.2Checking Accounts 23.3Credit and Its Use.
F INDING F INANCIAL S ERVICES AND T RACKING Y OUR M ONEY.
GOALS BUSINESS MATH© Thomson/South-WesternLesson 3.2Slide 1 3.2Electronic Banking Record electronic banking transactions Find account balance when banking.
Chapter 17 Financial Services 1 ©2008 Thomson/South-Western.
©2013 Cengage Learning. All Rights Reserved. Business Management, 13e Financial Services Financial Institutions Common Financial Services.
Copyright © Cengage Learning. All rights reserved Traditional Services Provided by Financial Institutions Checking accounts –Check—a written order for.
Methods of Payment Cash
© 2012 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
TODAY’S AGENDA 1.Budgeting Project review- they are due electronically tomorrow 2.Budgeting Quiz (DVD) and test questions afterwards 3.Ch. 10 Baking 4.Ch.
Chapter © 2010 South-Western, Cengage Learning Checking Accounts and Banking Services Checking Accounts Banking Services and Fees 9.
Checking account – An account held at a bank, credit union, or other financial institution in which account owners deposit funds. Account owners have the.
Fri. 4/15. Ch. 10 Money and Banking 10.3 Notes “Banking Today”
How to Write Checks and Balance Accounts. Checking Account An account at a bank against which checks can be drawn by the account depositor Check – A document.
PFIN 4 4 Managing Your Cash and Savings GITMAN/ JOEHNK/ BILLINGSLEY
Understanding Money and Banking
PFIN 4 5 Managing Your Cash and Savings GITMAN/ JOEHNK/ BILLINGSLEY
Mr. Roeshink – Financial Operations
Consumer Education Chapter 7
Chapter 10 Consumer Education.
Understanding Money, Banking, and Credit
Chapter 10 Section 3 Banking Today
Copyright 2005 Prentice- Hall, Inc.
Chapter 10 Money and Banking.
Presentation transcript:

Copyright © Cengage Learning. All rights reserved Recent Changes in the Banking Industry Financial Services Modernization Banking Act (1999 ) –Allows banks to establish one-stop financial supermarkets where customers can get a variety of financial services, including banking, buying and selling securities, and purchasing insurance –Competition will increase and consumers will have more choice Anticipated changes –More emphasis on evaluating the creditworthiness of loan applicants as a result of the recent financial crisis –An increase in government regulation of the industry 18 | 1

Copyright © Cengage Learning. All rights reserved Recent Changes in the Banking Industry Anticipated changes (continued) –A reduction in the number of banks, S&Ls, credit unions, and financial institutions because of consolidation and mergers –Globalization of the banking industry –The importance of customer service as a way to keep customers from switching to competitors –Increased use of credit and debit cards and a decrease in the number of written checks –Continued growth in online banking 18 | 2

Copyright © Cengage Learning. All rights reserved Online Banking Advantages –Convenience of electronic deposits –Ability to obtain current account balances –Convenience of transferring funds –Ability to pay bills –Convenience of seeing which checks have cleared –Easy access to current interest rates –Simplified loan application procedures –For banks—lower processing costs Disadvantages –Not being able to discuss financial matters with a personal banker 18 | 3

Copyright © Cengage Learning. All rights reserved Online Banking (cont’d) Electronic funds transfer (EFT) system –A means of performing financial transactions through a computer terminal or telephone hookup –Changing how banks do business Automated teller machines (ATMs) Automated clearinghouses (ACHs) Point-of-sale terminals 18 | 4

Copyright © Cengage Learning. All rights reserved International Banking Popular methods of paying for import and export transactions –Letter of credit A legal document issued by a bank or other financial institution guaranteeing to pay a seller a stated amount for a specified period of time –Banker’s acceptance A written order for the bank to pay a third party a stated amount of money on a specific date Currency exchange 18 | 5

Feedback: Privacy Policy Feedback
Do Not Sell My Personal Information
About project: SlidePlayer Terms of Service

© 2024 SlidePlayer.com Inc. All rights reserved.