EPF.12c evaluate services and related costs associated with personalbankingEPF.12e prepare all forms necessary for opening and maintaining achecking and a savings accountEPF.12f reconcile bank statements
There are costs associated with personal banking.
check cashing interest earned debit cards ease of bill paying online account management direct deposit automated teller machine (ATM) improved access to loans.
Costs for services provided by financial institutions include interest on loans and fees, such as ATM fees late fees minimum balance fees returned check fees.
Consumers who are unbanked may have difficulty establishing credit cashing checks without paying a service fee mailing bill payments acquiring loans receiving direct deposit income keeping income safe.
The process of opening a checking account or savings account involvesseveral steps.
Opening and maintaining a checking or savings account involves completing an application completing a signature card presenting approved identification document writing/maintaining checks, stubs, and check register endorsing checks completing deposit and withdrawal documents.
Reconciling bank statements is an important step in financial planning.
Reconciliation is the process of bringing the checkbook register into agreement with the bank statement. This may be done electronically or manually.