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Chapter 17

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Transcript

  • 1. Mitch Chapter 17
  • 2. Federal reserve system
    • Supervises and regulates member banks and to help banks serve the publicefficiency
    • 5 is in NC
  • 3. Banking system
    • Build homes
    • Start new businesses
    • Plant crops
    • Finance education
    • Buy goods
  • 4. Banks
    • Commercial
      • Full service
      • Wide range of financial services.
    • Credit union
      • User owned
      • Nonprofit
      • Cooperative financial institution.
  • 5. banks
    • Wachovia
    • Suntrust
    • Bank of america
    • BB&T
  • 6. EFT
    • Electronic funds transfer or EFT refers to the computer-based systems used to perform financial transactions electronically.
    • The term is used for a number of different concepts
  • 7. Automatic bill payment
    • Is when a bank customer authorizes preset amounts spent every month
  • 8. Bank fees
    • unauthorised overdraft fees; ATM usage fees; fees for having an account balance under the required amount