Bank On It Be Money Smart! Building: Knowledge, Security, Confidence
To choose the one that’s right for you when the time comes
To take the right steps to open a bank account
To find the right person to talk to at the bank when you need different services
Why should you learn all about banks? Welcome to Bank On It!
Today we will…
Learn about banks and banking services
Talk about five reasons to use a bank
Describe how to open a bank account
Talk about the different people who work at a bank and what they do
Checking Account in Bank vs. Money in Drawer
What Do Banks Do?
They’re businesses that offer a safe place to keep money
Use deposits to make loans
Also called financial institutions
Offer many financial services
Why keep your money in a bank?
Build your financial future
Types of Financial Institutions
How Do I Open a Bank Account?
What services does it offer?
Is it near my home?
Where are its ATMs?
What does it cost for different accounts?
Your bank should meet your needs, so ask yourself:
Banking Terms Deposit put money in the bank Withdrawal take money out of the bank Balance how much money you have in the bank Fees money charged for services Overdraft withdrawing more money than you have in your account
Steps To Open An Account
1.Talk to a bank representative at the bank near your home
2. Show your I.D. and complete paperwork to open the account
3.You can then deposit and withdraw money
4. You need to keep track of your balance
Remember to record everything, including deposits, withdrawals, and fees!
What Is Account Verification?
Photo ID, state-issued ID card
Proving your identity in order to open an account. Bring with you:
Use a deposit slip
A deposit slip tells the bank how much money you are adding
Write checks to pay bills or buy goods or services
Linked to an ATM/Debit card
Earn more money on your deposits
Usually use money only on things you saved for
Can be linked to an ATM/Debit card
Other Banking Services
Electronic (phone and online) banking
Debit cards and stored value cards
Is My Personal Information Safe? Banks must keep your personal information safe and private, by law
Important Bank Employees
Customer Service Representative
Bank Teller Loan Officer Branch Manager
What do Bank Employees do? Let’s find out!
Key Things to Remember
Ask for help when you need it
Ask questions until you completely understand
Never sign anything until you understand it
Ask for written information to take home for review
NEVER, NEVER give anyone (except a family member or
trusted friend) your bank account
Identity theft is a growing crime! Identity Theft: Protect Yourself
Fake emails which ask for personal information
Never give it out!
Fake websites (that look real) which ask for personal information
Never type it in!
Is it real?
Type it in yourself?
Ask for it to be sent to you?
New Forms of Identity Theft
Don’t give out personal information
Delete emails you didn’t request
3. Don’t visit websites emailed to you from people you don’t know!
Protect Yourself from Identity Theft
CONCLUSION: Checking Account in Bank vs. Bag in Drawer
Checking Your Balance Congratulations! You have now learned about: