Presentation is loading. Please wait.

Presentation is loading. Please wait.

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

Published byWalter Lawrence Modified over 6 years ago

Similar presentations

Presentation on theme: "Banking Chapter 14 What types of financial services might help you to better manage your cash flows?"— Presentation transcript:

1

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

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

4 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

5 Banking Chapter 14

6 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.

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

8 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

9 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1 Financial Services and Institutions Electronic Banking Services Automatic Payments With authorization, funds are withdrawn from your account Make sure there are sufficient funds in your account Check your bank statement to make sure the transfer is correct Direct Deposit-automatic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.

10 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

11 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

12 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?

13 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

14 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

15 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?

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

17 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.

18 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.

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

20 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.

21 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

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

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

24 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

25 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

26 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.

27 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.

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

29 Banking Chapter 14

30 Banking Chapter 14

31 End of

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

Similar presentations

CHAPTER 25 Checking Accounts. CHAPTER 25 Checking Accounts.

CHAPTER 25 Checking Accounts. CHAPTER 25 Checking Accounts.
Section 5.1: Selecting Financial Services and Institutions

Section 5.1: Selecting Financial Services and Institutions
Financial Services and Institutions Name____________________ 1.

Financial Services and Institutions Name____________________ 1.
 How to Manage Your Cash › Daily Cash Needs  Lunch, movies, gas, or paying for other activities  Carry cash  Go to an ATM  Credit Card  Know pros.

 How to Manage Your Cash › Daily Cash Needs  Lunch, movies, gas, or paying for other activities  Carry cash  Go to an ATM  Credit Card  Know pros.
McGraw-Hill/Irwin Copyright © 2006 The McGraw-Hill Companies, Inc. All rights reserved. 4 Savings and Payment Services.

McGraw-Hill/Irwin Copyright © 2006 The McGraw-Hill Companies, Inc. All rights reserved. 4 Savings and Payment Services.
Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE1 CHAPTER 17 17-1 17-1Banks and Other Financial Institutions 17-2 17-2Financial Services.

Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE1 CHAPTER Banks and Other Financial Institutions Financial Services.
© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 17 SLIDE 1 17-1 17-1Banks and Other Financial Institutions 17-2.

© 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.
Bank & Insurance Ms. Cichon Rosholt High School. Financial Institutions Commercial Bank: Financial institution that offers a wide variety of banking services.

Bank & Insurance Ms. Cichon Rosholt High School. Financial Institutions Commercial Bank: Financial institution that offers a wide variety of banking services.
© The McGraw-Hill Companies, Inc., 2001. All Rights Reserved. Irwin/McGraw-Hill C HAPTER 5 Banking Services: Savings Plans and Payment Accounts 6e Personal.

© The McGraw-Hill Companies, Inc., All Rights Reserved. Irwin/McGraw-Hill C HAPTER 5 Banking Services: Savings Plans and Payment Accounts 6e Personal.
Banking and Financial Services

Banking and Financial Services
Banking and Financial Services

Banking and Financial Services
© The McGraw-Hill Companies, Inc., 2004. All Rights Reserved. Irwin/McGraw-Hill C HAPTER 5 Banking Services: Savings Plans and Payment Accounts 7e Personal.

© The McGraw-Hill Companies, Inc., All Rights Reserved. Irwin/McGraw-Hill C HAPTER 5 Banking Services: Savings Plans and Payment Accounts 7e Personal.
Chapter 5 Financial Services: Savings Plans and Payment Accounts

Chapter 5 Financial Services: Savings Plans and Payment Accounts
© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 17 SLIDE 1 17-1 17-1Banks and Other Financial Institutions 17-2.

© 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.
Glencoe Business and Personal FinanceCopyright © by The McGraw-Hill Companies, Inc. All rights reserved.

Glencoe Business and Personal FinanceCopyright © by The McGraw-Hill Companies, Inc. All rights reserved.
BankingUnitReview JEOPARDY Term The length of time you are required to keep your money in the account is known as the ___________.

BankingUnitReview JEOPARDY Term The length of time you are required to keep your money in the account is known as the ___________.
4-1. McGraw-Hill/Irwin Focus on Personal Finance, 2e Copyright © 2008 by The McGraw-Hill Companies, Inc. All rights reserved. 4 Savings and Payment Services.

4-1. McGraw-Hill/Irwin Focus on Personal Finance, 2e Copyright © 2008 by The McGraw-Hill Companies, Inc. All rights reserved. 4 Savings and Payment Services.
Banking Services: Savings Plans and Payment Accounts

Banking Services: Savings Plans and Payment Accounts
Banking Chapter 5. Section 5.1 Objectives Identify types of financial services Identify types of financial services Describe the various types of financial.

Banking Chapter 5. Section 5.1 Objectives Identify types of financial services Identify types of financial services Describe the various types of financial.
 How to Manage Your Cash › Daily Cash Needs  Lunch, movies, gas, or paying for other activities  Carry cash  Go to an ATM  Credit Card  Know pros.

 How to Manage Your Cash › Daily Cash Needs  Lunch, movies, gas, or paying for other activities  Carry cash  Go to an ATM  Credit Card  Know pros.

Similar presentations

Ads by Google