Presentation on theme: "Banking in the United States. Banking Safety FDIC is the Federal Deposit Insurance Corporation On May 20, 2009, President Obama signed the Helping Families."— Presentation transcript:
Banking Safety FDIC is the Federal Deposit Insurance Corporation On May 20, 2009, President Obama signed the Helping Families Save Their Homes Act, which immediately extended the FDIC temporary increase in the standard maximum deposit insurance amount (SMDIA) to $250,000 per depositor through December 31, 2013. The legislation provides that the SMDIA will return to $100,000 on January 1, 2014. All chartered banks are required to be a member of FDIC “Member FDIC”
ATM/Check Cards/OneCard Debit Secret Codes or PIN numbers Choose 4 or more digits to be used with ATM transactions and transactions with merchants. VISA ® or MasterCard ® Logo and function Debits the amount of the purchase from your checking account.
Banking Tips Complete all transaction tickets and checks Endorse all checks Always bring photo identification with you to the bank Keep a check book register Reconcile your bank statement Contact your bank immediately with any discrepancies.
Examples and Practice Check Writing and Endorsement Deposit and Withdrawal Tickets
Domestic Wire Transfers To receive a wire in the U.S. or to send a wire to someone with a U.S. bank account requires: Bank Name Bank Routing Number or ABA Number Person’s Name and Address Person’s Account Number Ask about the charge $10 - $40
International Wire Transfers To send a wire outside of the U.S. you must provide your bank with the following: Bank Name Bank Swift Code (if applicable) City and Country of the Bank Person’s Name and Address Person’s Account Number Ask about the charge $30 - $60
Identity Protection Identity theft can ruin your financial future and make it impossible for you to maintain good credit. Identity theft will leave you with bad credit that takes months or years to correct; even though you get reimbursed for the thief's bills. A thief can take over your account by acquiring account information such as account or card numbers and drain your assets. A thief can also use your personal information to open new accounts and credit lines without your knowledge.
Prevent Theft Never give out personal information (SS number, account numbers, bank routing numbers, PIN’s) over the phone. Only use secured web sites when shopping online Never leave your ID in the car unattended Do not carry your SS card, birth certificate, or passport unless absolutely necessary Do not carry cards that show your SS number Remove your name from phonebooks and reverse directories Mail bills from the post office Keep photocopies of your credit cards at home in a safe place Order your credit report yearly from one of the 3 credit bureaus free of charge Never reply to e-mails requesting personal financial information Cross off card information on receipts Shred receipts, credit card offers, and statements