Title: Banking Services What Banks Offer
1Banking Services What Banks Offer
Banks are wanting your business.. ..therefore
they offer much more than traditional accounts!
2Banking Services What Banks Offer
- Checking Accounts A banking service where money
is - deposited into an account and checks can be
written - to withdraw money from the account. Checking
accounts - are the most widely used service that a bank
offers. - Student
- Senior Citizen
- Totally Free
- Business
- Interest Bearing
3Banking Services What Banks Offer
- Savings Accounts An account that encourages
saving - rather than spending. Savings accounts pay
interest - on the amount of money you have in your account.
- Different types of savings accounts are
- Traditional
- 529 Educational Savings
- Senior Citizens
- Goal Setter
4Banking Services The Checking Account
- Credit Cards Debit Cards
- Credit Cards Allows you to buy now, and pay
later. - If full payment isnt made within a certain
period of - Time (usually 30-45 days), you are charged
interest. - Debit Cards Allows you to buy now, but pay now!
- Debit cards are attached to a checking account.
Money - Is electronically transferred to your account to
the vendor - to pay for purchases. Debit and credit cards
are - Convenient
- Safer than cash
BE CAREFUL!
5Banking Services What Banks Offer
- Certificates of Deposits
-
- A safe way to invest your money when you are able
to - set aside your money for a period of time.
- Characteristics of Certificates of Deposits (CDs)
- CDs have different time spans
- Pay a higher percent of interest than saving
accounts - Money is committed for a period of time
- Safe
6Banking Services What Banks Offer
- FDIC Federal Deposit Insurance Corporation
-
- A U.S. Government agency that insures cash
deposits, - including CDs, that have been placed in member
institutions. - The insured amount is 100,000 for each account.
- The FDICs mission is to maintain stability of
and public con- - fidence in the US banking system.
7Banking Services The Checking Account
- Loans
- Banks loan money for many different reasons
- Home/Mortgage
- Cars
- Home improvements
- Vacations
- Education
- Anything!
- This service is one major way that banks make
money!
8Banking Services The Checking Account
On-line Banking Sometimes know as Internet
Banking. Gives you greater control of your
finances, plus giving you The convenience of 24/7
access to your accounts. Its safe and usually
free.
9Banking Services The Checking Account
- On-line Banking, contd.
- What you can do with on-line banking
- Pay anyone, anytime and set up automatic pay
dates - Monitor your accounts in one location
- Automatically transfer funds
- Check balances
- Other options
10Banking Services The Checking Account
- Discount Brokerage Services
- A bank service that allows their customers to buy
and - sell stocks and bonds. Banks usually have
separate - departments that handle advice for buying and
- selling of stocks.
11Banking Services The Checking Account
Automatic Teller Machines (ATMs) Banks strive to
meet the convenience of their customers,
therefore offering ATM machines at
MANY Locationslocally and nationally. Satellite
Branches Banks are offering smaller branches in
rented spaces (I.e., grocery stores,
department stores, malls, etc.)
12Banking Services The Checking Account
- Financial Planning
- Most banks offer financial planning services for
different - occasions
- Retirement
- Education
- Investments
- Money Management
13Banking Services The Checking Account
Other Services