Banking Basics
What is a bank?
A safe place where you keep your money
What is a deposit?
Putting money into a bank account.
What is a withdrawal?
Taking money out of a bank account.
What is a bank balance?
The amount of money in your account.
You want to put your birthday money into your bank account. What should you do?
Make a deposit
What is a bank account used for?
To store money and keep track of it
If you put $20 into your bank account, is that a deposit or a withdrawal?
deposit
If you take $15 out of your bank account, is that a deposit or a withdrawal?
A withdrawal
What is a bank statement?
A record of money going into and out of your account.
You need $20 in cash to buy lunch. What could you do to get the money from your account?
Make a withdrawal at an ATM or bank.
What is an ATM?
Automated Teller Machine--a machine that lets you take out and deposit money
You have $50 in your account and deposit $10. How much money do you have now?
$60
You have $40 in your account and withdraw $10. How much money is left?
$30
Your account has $60. You spend $15 using your debit card. What is your new balance?
$45
You check your bank statement and see a purchase you did not make. What should you do?
Tell a trusted adult if needed and contact your bank right away.
What is a debit card used for?
To spend money from your bank account
You get paid $100 from your job and put it into your bank account. What happens to your balance?
It goes up/increases
You have $85 in your account and take out $25 at an ATM. What is your new balance?
$60
Your bank statement shows a $50 deposit and a $20 withdrawal. Did your overall balance increase or decrease, and by how much?
Increased by $30
You have $75 in your account and want to buy something that costs $90. What should you do before buying it?
Check your balance and save more money before buying it.
Why is it safer to keep your money in a bank than to carry all of it in cash?
The bank helps keep your money safe, and you can track your money.
Your account has $125. You deposit $25 and then deposit another $10. What is your new balance?
$160
You have $150. You withdraw $35 to buy groceries and $20 to get a haircut. How much money is left?
$95
Your starting balance is $200. You deposit $40, withdraw $65, and spend $25 using your debit card. What is your final balance?
$150
Someone calls and asks you to tell them your bank password or PIN. What should you do?
Do not share it. Hang up and contact your bank if you are concerned.