1. Personal Finance Selecting a Bank

2. Review of yesterday… FDIC Insurance? Savings Accounts vs. Money Market vs. CDs? Interest Rates vs. Annual Percentage Yield (APY)

3. Selecting a bank Features of accounts Overdraft protection, ATM, Online Banking What are the interest rates offered? Compare APY (Annual Percentage Yield) Read the fine print for restrictions and fee information

4. Selecting a Bank How will you bank Online? Use ATMS? Use Tellers? Where will you bank Do they have convenient locations?

5. Selecting an Account Beating Bank Fees Checking can cost $200-plus a year ($5-$20 a month) Buy cheap checks by ordering direct from printer Avoid Overdraft and Maintenance Fees ($5 - $40) Avoid ATM fees by using your banks ATM ($1 - $3) Find out what Free means Balance requirement? Direct-deposit required? Know what is allowed with your account Some accounts charge for things like teller visits

6. Activity – Selling Bank Services Groups of 2 or 3 Select a bank (first come, first serve) Create a sales presentation in PowerPoint advertising the following accounts from your bank Checking (Personal) Savings (Personal) CD

7. What to include? Include in your presentation information on: Account Fees Interest Rates/Required Balances Bank Locations/Hours Account Features (ATM locations, Online banking, etc.) Bank History

8. Activity- Selling Bank Services Submit PowerPoint file for your group by end of class tomorrow Remember: You are trying to convince your classmates to open accounts at YOUR bank We will vote at the end of presentations to see what bank won the most customers NOTE: IF you can not find APYs for your bank on internet, you will need to call or visit that bank!!!