Show:
Money up and down
Calculations
Checks
ATMs
Banking Procedures
100
What is a withdrawal?
When you take money out of your account.
100
How much money is one $5 bill, 5 quarters, one dime and one penny?
$6.36
100
When writing a check, what goes into the memo?
what you bought, your credit card account number, or other information you need
100
True or false: You need a withdrawal slip for an ATM.
False
100
Explain and analyze why ATMs are more convenient than tellers.
They are open 24 hours a day
200
What is a deposit?
When you put money into the bank
200
How much money is two twenty dollar bills, 6 dimes, two nickels and 3 pennies?
$40.73
200
Name one thing important to remember when filling out a deposit slip.
Answers will vary
200
Explain what a PIN is and why it is important.
Personal Identification Number It is your password to your accounts (especially on an ATM)
200
Describe what banks do with your money, other’s money, and how it is used.
Answers will vary
300
When does interest work against you?
When you take out a loan.
300
If you have a $100 balance in your savings account and then make a $30 deposit, what will your new balance be?
$130
300
What is endorsing a check?
Signing the back of a check that is written to you
300
Where are debit cards used and what are they used for?
At your bank’s ATM for all transactions At an ATM at any store for withdrawals At a store for purchases
300
What is a requirement of a CD?
You keep money in the account a certain amount of time
400
How do you make or earn money through a bank?
Earning Interest
400
You need $110 in cash. If you withdrew money from your checking at an ATM, how much money would you need to withdraw to have $110?
$120
400
Who might charge you a fee for writing a check for money you do not have in your account?
the bank, the company you wrote the check to, the government
400
Where does the cash back money com from? What happens to your account?
It is deducted from your account- your account goes down
400
What do you need to bring to open a savings account if you are under 18?
A parent or guardian photo ID SS number money to deposit
500
Analyze what determines how much interest you get. (Make sure you include at least two determining factors.)
How much money is in the bank, the rate of interest (what type of account,) how long your money is in the bank.
500
If you have a $120 balance in your checking account and then make a $55 deposit and get $80 cash back, what will your new balance be?
$95
500
What are checking accounts used for?
Everyday cashless purchases
500
Explain why you would go to a teller and not an ATM.
Answers will vary. (To withdraw an exact amount)
500
What do you need to bring to open a savings account if you are 18 or over?
2 forms of ID- two photo or one photo one credit card SS number money to deposit