How to Use a Financial Institution

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "How to Use a Financial Institution"

Transcription

1 How to Use a Financial Institution Latino Community Credit Union & Latino Community Development Center

2 HOW TO USE A FINANCIAL INSTITUTION LATINO COMMUNITY CREDIT UNION & LATINO COMMUNITY DEVELOPMENT CENTER Copyright 2013 Latino Community Credit Union How to use a financial institution Latino Community Credit Union 2

3 TABLE OF CONTENTS INTRODUCTION 4 WHY SHOULD I USE A FINANCIAL INSTITUTION? 5 CREDIT UNIONS VS. BANKS 6 WHAT DO I NEED TO OPEN AN ACCOUNT? 7 GENERAL DOCUMENTS 7 INDIVIDUAL TAX IDENTIFICATION NUMBER (ITIN) 7 HOW CAN I APPLY FOR THE ITIN? 7 WHAT QUESTIONS SHOULD I ASK? 8 HOW DO I USE MY CHECKING ACCOUNT? 9 WRITE A CHECK 9 DEPOSIT A CHECK 9 ENDORSE A CHECK 10 BALANCING MY CHECKBOOK 10 DEBIT CARD 11 OVERDRAFT PROTECTION 13 DIRECT DEPOSIT 14 HOW CAN I ACCESS MY ACCOUNTS? 16 PHONE 16 INTERNET 16 ATM 17 MYTH BUSTERS 18 How to use a financial institution Latino Community Credit Union 3

4 INTRODUCTION In this chapter, we will learn how to begin working with a financial institution. You may wonder if you should keep your money at home instead of a financial institution. We will discuss why financial institutions are the safest option. Using a financial institution offers you a safe place to save and grow your money. In the United States, financial institutions offer many important services including savings accounts, checking accounts and loans. It is important to know how they work to find the best services for you. DISCUSSION TOPIC If I am an immigrant, is my money safer here or in my home country? Your money is safest in a reliable financial institution, whether here or in your home country, where it is federally insured and you can access it easily. A financial institution allows you to manage and grow your money. How to use a financial institution Latino Community Credit Union 4

5 WHY SHOULD I USE A FINANCIAL INSTITUTION? I AM SAFE If you keep your money under the mattress or carry a lot of cash in your pocket, you could lose your money or be robbed. It is much safer for you and your family to keep your money in a financial institution. MY MONEY IS SAFE The money you save in your credit union or bank is insured by the federal government up to $250,000. This means that you cannot lose your money, even if the financial institution closes. An account in a financial institution is the safest way to save your money for the future. MY MONEY CAN GROW Saving money with my financial institution will allow my money to grow over time to help reach my goals. Financial institutions offer different types of accounts with a variety of terms, fees, and interest rates. The interest rate is written as a percentage (%) of your money or your loan. Interest works in two ways. First, if you deposit your money in an account, you can earn interest. To earn interest means that your financial institution pays you to keep money in your account. Second, if you borrow money (a car loan, for example), you will have to pay interest. You can save money since financial institutions are typically much less expensive than using check cashers or payday lenders. You will also be able to access credit when you create a relationship with a financial institution. This means that you can buy things now and pay for them later. When you manage your credit well, you can build a strong credit history. This will allow you to make important purchases, such as a home, to build wealth for yourself and your family. How to use a financial institution Latino Community Credit Union 5

6 CREDIT UNIONS VS. BANKS DISCUSSION TOPIC: What is the difference between a bank and a credit union? In the United States, there are various types of financial institutions. Two of the main types of financial institutions are credit unions and banks. Both of them offer similar types of services and a safe place to save your money. But, different financial institutions offer varying interest rates and fees. Banks and credit unions are both regulated by the federal government. This means that your deposits are insured up to $250,000. CREDIT UNIONS: are non-profit financial institutions. exist to serve their members and work for the benefit of the community. use the money the organization makes to provide more benefits to their members, such as lower fees and better interest rates. CREDIT UNION MEMBERS: have something in common, such as an employer, association, or community. They must join the credit union to use its services. obtain a share of the credit union by opening a savings account and become owners of the organization. participate in a democratic process to elect leaders of the organization who are part of the board of directors. How to use a financial institution Latino Community Credit Union 6

7 WHAT DO I NEED TO OPEN AN ACCOUNT? GENERAL DOCUMENTS Each financial institution may request different types of documentation. Here are some examples: An ITIN or a Social Security number A driver s license or another form of official identification with your photo and your signature A bill to verify your address A minimum deposit of $10 for a savings account THE INDIVIDUAL TAX IDENTIFICATION NUMBER (ITIN) The Individual Tax Identification Number (ITIN) is a number that the Internal Revenue Service (IRS) issues to people who cannot get a valid social security number so that they can file their taxes. With this number, you can file your taxes, receive interest on your bank accounts, start a credit history, or apply for a loan with some financial institutions. HOW CAN I APPLY FOR THE ITIN? Go to your local Internal Revenue Service (IRS) office and get the form W-7 with the corresponding instructions. You can complete the application yourself or ask for help from your local non-profit organizations. Usually your financial institution or local community center can help you apply for this number. Be aware! Do not pay a lot of money for someone to help you fill out your ITIN paperwork. The ITIN is NOT a work permit. How to use a financial institution Latino Community Credit Union 7

8 WHAT SHOULD I ASK WHEN I OPEN AN ACCOUNT? DOES THE ACCOUNT EARN INTEREST? You should ask how much interest the account earns. To earn interest means the financial institution pays you for keeping money in your account. All savings accounts should earn interest. There are different types of savings accounts with different interest rates. Some checking accounts earn interest too. ARE THERE ANY FEES/CHARGES? Sometimes you have to pay a monthly maintenance fee for having an account. Most checking accounts have monthly fees, but they should be very low. Some financial institutions have no monthly fee, but have different types of fees instead. For example, you might have to pay when you use the ATM machines or visit the teller. DO I NEED TO MANTAIN A MINIMUM BALANCE? Minimum balance is the amount of money that you need to have in your account at all times. Many financial institutions charge you a fee if your balance goes below the minimum balance. IS THERE A MINIMUM DEPOSIT? Minimum deposit is the amount of money you must deposit to open an account. While each financial institution offers similar products and services, their rates, fees, minimum balances and deposits can vary. It is important to ask the right questions before opening your account. Be aware! Fees and charges for account management, overdraft and ATM use might change and can be very high. Be aware of new fees and penalties charged to your account and compare. How to use a financial institution Latino Community Credit Union 8

9 HOW DO I USE MY CHECKING ACCOUNT? You can use a checking account to write checks, to pay bills, or to use a debit card to buy things. WRITE A CHECK DISCUSSION TOPIC: Learn how to write a check: What experiences, if any, have you had with checking accounts? What are your concerns, if any, about using a checking account and debit card? Check number Name of person or company who will receive the money Miguel Rodríguez 111 Street Durham, NC Write today s date here. Write the amount in words Use numbers to write the check amount. Note the purpose of the check Sign here DEPOSIT A CHECK Learn how to deposit a check: Write today s date here Write your name here Write here your account number Indicate here checks to be deposited Subtotal minus cash received Indicate cash to be deposited Write here the amount of each check to be deposited Total cash and checks to deposit Total cash you want to receive How to use a financial institution Latino Community Credit Union 9

10 ENDORSE HERE Do not sign below this line ENDORSE A CHECK Sign your name on the back of the check where it says ENDORSE HERE. Remember, after your check is endorsed it is the same as cash. So, wait until you cash your check to sign it, in case it is lost or stolen. Sign here BALANCING MY CHECKBOOK 1. Record and subtract all DEBITS - withdrawals using the ATM, debit card or other automatic payments deducted from your account, checks, and service fees. 2. Record and add up all CREDITS - deposits, including direct deposit or electronic funds transfers. 3. Calculate your BALANCE in your register - add your deposits and subtract your withdrawals. Date Number Description of transaction Debit/Payment (-) Credit/Deposit (+) Balance 1/20/09 Previous balance /21/09 90 Groceries /2/09 91 Newspaper /22/09 92 Felipe Fuentes /23/09 Paycheck Your check register helps you monitor the amount of money in your checking account. This will help you to avoid fees for using more money than you have in your account. It is important to record in your check register every checking account transaction. If there is more than one owner of the account it is recommended that one person tracks the balance in the account using the check register in order to avoid NSF, overdraft and other unnecessary fees. How to use a financial institution Latino Community Credit Union 10

11 DEBIT CARD When you open a checking account, you can request a debit card. Debit cards can be used to make purchases almost anywhere. You can also use a debit card to withdraw money from the ATM. In most cases you will need to enter a Personal Identification Number (PIN) that your financial institution will provide you. When you use your debit card, it takes money directly from your checking account to make the payment. It acts like a check, but faster. PIN stands for personal identification number. This number is normally sent to your home by mail in a separate envelope when you apply for a debit card. You use this number to access your accounts at the ATM or make purchases with your debit card at stores. The PIN is a safety feature; it is like an electronic signature. ADVANTAGES DISADVANTAGES You do not need to carry cash. If your purse or wallet is lost or stolen your money is safe since a PIN number is required to access your funds. You do not need to visit your financial institution every time you need cash. You can use your card just about anywhere you go and if you need cash, you can access your money at an ATM machine any time. If you do not use your check register to track the money in your account, you could spend more than you have. Your debit card provides direct access to your checking account. So, be sure to protect your Personal Identification Number (PIN) and debit card number. Do not carry your PIN with your card and do not allow anyone to watch you enter your PIN at the ATM. YOUR PIN IS PERSONAL, DO NOT SHARE IT WITH ANYONE! BE AWARE! If your card is lost or stolen or you detect any fraudulent use, contact your financial institution immediately. In some cases, such as online purchases, credit cards have more protection than debit cards in case of fraud. How to use a financial institution Latino Community Credit Union 11

12 ATM CARD, DEBIT CARD AND CREDIT CARD ATM card Debit card Credit card To obtain it you need to have: A savings account A checking account Any account, but your application needs to be approved first. Can I withdraw money from the ATM? Do I need a PIN to use the ATM? Yes Yes Yes Yes Yes Yes. It is possible you will be charged more interest for a cash advance. Can I use it for purchases? No Yes Yes Do I need a PIN to make purchases? You cannot make purchases Yes No. You only need to sign the receipt. When you use your card to withdraw money or make purchases, the money is withdrawn immediately from your account. is withdrawn immediately from your account. is borrowed from your financial institution and you pay it back the following month. Limit you can spend The amount in your account. The amount in your account. Credit limit previously approved. It is very important to understand that the amount you have in your account determines the maximum amount you can spend. If you spend more than you have in your account, you will be charged a Non-Sufficient Funds (NSF) fee. The amount in your checking account = The limit you can spend on your debit card To avoid spending more than you actually have, it is important to keep a record of your expenses, writing each transaction in your check register and carefully checking the transactions in your printed or online monthly statement. How to use a financial institution Latino Community Credit Union 12

13 OVERDRAFT PROTECTION Overdraft protection helps you if you spend more money than you have available in your checking account. There are two types of overdraft protection: One type takes money from your savings account and puts it into your checking account. The other type gives you a small loan to pay the check. While overdraft is less expensive than incurring non-sufficient funds fees, there is still typically a fee for overdraft protection and a maximum number of transfers that can be made each month from your savings to your checking account to fund overdrafts. These restrictions and fees vary by financial institution. SAVINGS ACCOUNT FINANCIAL INSTITUTION CHECKING ACCOUNT It is good to have overdraft protection, but you should try not to use it. You should always know how much money you have in your checking account. Do not withdraw or write checks or make purchases for more than that amount. If you do not manage your accounts carefully, they could be closed and it could be difficult to open an account in another financial institution. How to use a financial institution Latino Community Credit Union 13

14 DIRECT DEPOSIT DISCUSSION TOPIC: What do you think the benefits of direct deposit might be for you? What are some of your concerns, if any, about direct deposit? Direct deposit allows your employer to deposit your salary directly in your account. You receive a payment stub with all the information about your hours worked and salary. Your money is safe, you save time waiting in line to deposit your check, and your money begins to earn interest right away. Ask your employer if they offer direct deposit. If the answer is yes Ask for a direct deposit form from a representative at your financial institution and give it to your employer. Name and address of your bank or credit union Choose the account type where you want your money to be deposited Number that identifies your bank or credit union Account #1 Account Type: Checking Savings Money Market Bank Name: LATINO COMMUNITY CREDIT UNION Bank Address: 201 West Main Street City, State, Zip: Durham, NC Routing # (9 digits): Account#: Requested amount for this account: Account in which you want your money to be deposited % of Net Pay: Specific Amount $ Entire Balance Amount you want to deposit in this account Direct deposit also allows you to receive your Social Security and other federal benefit payments. You can sign up at or calling How to use a financial institution Latino Community Credit Union 14

15 ADVANTAGES OF DIRECT DEPOSIT 1. Your salary is available automatically and starts to generate interest immediately. Even if you are sick, on vacation, or traveling, you continue to receive your money automatically 2. It is convenient. You won t miss going to the branch and waiting in a long line to deposit or cash a check. 3. Your money is safe. There is no risk of being robbed or losing your money. 4. It is a trustworthy service. Millions of people use this service in the United States. Payments always arrive on time and you can enjoy your money immediately. 5. It is confidential because there is not a printed check and thus no one can see what you earn. You will receive a check stub from the employer with the same information you receive in your regular check (how much you are paid and how many hours you worked). 6. Direct deposit can help you manage your finances and develop a habit of saving. You can decide to deposit your money directly into one account, or divide your salary into various accounts. This way, you can deposit a portion of your paycheck into your checking account and the remainder in one or more savings accounts. 7. Fewer problems. Problems with direct deposit are very infrequent. If a problem arises, you can call the financial institution and it can be fixed with a phone call. Normally, a problem with a lost or stolen check takes much longer to resolve. 8. It is better for the environment because electronic services save paper and this helps save our forests. How to use a financial institution Latino Community Credit Union 15

16 HOW CAN I ACCESS MY ACCOUNTS? Of course, at the branch your representative can help you with anything you need, but there are other quicker and easier ways to do basic transactions such as check your balance and transfer money between accounts. You can handle many types of transactions over the phone or mobile phone, using the Internet or the ATM. PHONE DISCUSSION TOPIC: If you currently have account(s), how are you accessing them? What has been your experience, positive or negative? Almost all financial institutions have a phone system that allows you to: 1. View your account balances. 2. Review your account transactions. 3. Transfer money between accounts. 4. Compare interest rates for deposits and loans. 5. Find the closest ATM. 6. Make a report of a lost or stolen card. Ask your financial institution how to access your accounts by phone. INTERNET Through the internet you can access your accounts and make almost exactly the same transactions as you would in your branch, except for withdrawing or depositing checks or cash. You just need a computer with internet access and your personal passwords. MOBILE PHONE Using your cell phone, you can check your balance, recent transactions and more. You can also receive alerts via text message when there is a deposit or withdrawal in your account or when your balance is getting low. How to use a financial institution Latino Community Credit Union 16

17 ATM Automatic Teller Machines (ATM) give you access to your accounts 24 hours a day, 7 days a week. You can check your balance, deposit and withdraw money and transfer money between your accounts. To use the ATM, you need an ATM card or debit card and your PIN. B G A = Card Slot B = Menu Keys C = Key Pad D = Envelopes C F A D E = Cash Withdrawal F = Deposit Envelope G = Receipt Slot To withdraw money To deposit money Transfer money between accounts 1. Insert your card 2. Select a language 3. Type in your code or PIN 4. Press withdraw cash 5. Selecta an account 6. Type the amount to withdraw 7. Take the money, your card, and the receipt 8. Document the amount you took out in your check register 1. Take an envelope and complete the part on the back with your name and amount of your deposit 2. Insert your card 3. Select a language 4. Type in your code or PIN 5. Press Deposit 6. Selecta an account 7. Type the amount you are depositing 8. Put the money or the endorsed check in the envelope 9. Insert your envelope 10. Take out your card and receipt 11. Document the amount in your check register 1. Insert your card 2. Select a language 3. Type in your code or PIN 4. Press Transfer 5. Select an account from where the money is transferred 6. Select an account to where the money is transferred 7. Enter the amount to transfer 8. Take your card and the receipt 9. Document the transaction in your check register How to use a financial institution Latino Community Credit Union 17

18 MYTH BUSTERS It is more expensive to use a financial institution than a check-cashing outlet or a payday lender. In fact, it is much less expensive to use a financial institution. Ask the right questions and look for a credit union or bank that does not charge many fees. Credit unions tend to offer the low fees and better interest rates. My money might not be safe in a financial institution. When you deposit money in a financial institution you can be sure that your money is safe. The federal government insures individual deposits up to $250,000 at both banks and credit unions. I will not be able to access my money in a credit union or bank. You can access your money at any time in a number of ways at the branch, at an ATM, by telephone, cell phone, or on the internet. What happens with my money if I have to return to my country or if I die? You can access your money using your credit card or you can send your money wherever you are. In the event that you die, the beneficiaries designated in your account would have access to the money in the account. How to use a financial institution Latino Community Credit Union 18

19 GOALS FINANCIAL INSTITUION The following are some possible action items that you might be interested in taking to start putting into practice what we have discussed! Please check the goals below that you are interested in completing for the next session. If you do not have an account with a financial institution: If you do not have a valid SSN, think about applying for an ITIN. Your Goal and Timeframe Ask various financial institutions for interest rates and fees for their accounts. Open a basic savings account. Deposit a minimum amount of money. If you already have an account with a financial institution: Verify that your savings accounts have a competitive interest rate. Your Goal and Timeframe Ask your employer if they offer direct deposit and if so, sign up. Use one more of the following products and services to better manage your money: Checking Account Overdraft Protection Debit Card Start accessing your accounts using the ATM, telephone, mobile phone, or Internet.

BANKING BASICS WHY YOU WANT TO KEEP YOUR MONEY IN THE BANK

BANKING BASICS WHY YOU WANT TO KEEP YOUR MONEY IN THE BANK BANKING BASICS WHY YOU WANT TO KEEP YOUR MONEY IN THE BANK REASONS TO KEEP MONEY IN A BANK Why keep your money in a bank? Safety Convenience Cost Security Financial Future BENEFITS OF CHECKING ACCOUNTS

More information

Anytime Adviser Checking Account Coach

Anytime Adviser Checking Account Coach Anytime Adviser Checking Account Coach Welcome. This interactive guide coaches you in managing your checking account. You may move from chapter to chapter by selecting headings from the left. Click on

More information

Introductions. Student Introductions. Purpose. Objectives (Continued) Objectives

Introductions. Student Introductions. Purpose. Objectives (Continued) Objectives Introductions Instructor and student introductions Module overview 1 2 Your name Student Introductions Your expectations, questions, and concerns about checking accounts Purpose will teach you how to use

More information

Overdraft Education Practice & Reference Materials

Overdraft Education Practice & Reference Materials Overdraft Education Practice & Reference Materials 2011 IN-Focus Digital Booklet Instructions 2 This booklet is designed for use with the First Financial Bank Overdraft Education video. Any unauthorized

More information

FINANCIAL/BANKING LITERACY ASSISTANCE FOR LATINO AMERICANS

FINANCIAL/BANKING LITERACY ASSISTANCE FOR LATINO AMERICANS FINANCIAL/BANKING LITERACY ASSISTANCE FOR LATINO AMERICANS REASONS WHY YOU SHOULD OPEN A BANK ACCOUNT Safety Carrying cash on payday or keeping large amounts of money at home or in your wallet can make

More information

Checking Account. Money Smarts for Kids. Money Skills for Life. Member FDIC. Welcome! What Is a Checking Account? Why Is a Checking Account So Great?

Checking Account. Money Smarts for Kids. Money Skills for Life. Member FDIC. Welcome! What Is a Checking Account? Why Is a Checking Account So Great? Checking Account Welcome! Welcome to Young Americans Bank, the only bank in the world designed specifically for young people! Mr. Bill Daniels started Young Americans Bank in 1987 because he thought it

More information

Welcome. 1. Agenda. 2. Ground Rules. 3. Introductions. Check It Out 2

Welcome. 1. Agenda. 2. Ground Rules. 3. Introductions. Check It Out 2 Check It Out Welcome 1. Agenda 2. Ground Rules 3. Introductions Check It Out 2 Objectives: Part 1 State the benefits of using a checking account Determine which checking account is best for you Identify

More information

Checking Account Management

Checking Account Management Checking Account Management 595 Market Street, 16th Floor San Francisco, CA 94105 888.456.2227 www.balancepro.net Whether you have a history of overdraft or nonsufficient funds charges or you just want

More information

Banking Basics 101. How to Manage Your Finances and Still Have Money Left Over For Pizza. Course objectives learn about:

Banking Basics 101. How to Manage Your Finances and Still Have Money Left Over For Pizza. Course objectives learn about: Banking Basics 101 Course objectives learn about: Using a checking account Various types of payment vehicles Benefits of a savings account How to Manage Your Finances and Still Have Money Left Over For

More information

CHECKING BASICS101. 701.255.0042 www.capcu.org

CHECKING BASICS101. 701.255.0042 www.capcu.org CHECKING BASICS101 701.255.0042 www.capcu.org This book is intended as a general guide to the topics discussed, and it does not deliver accounting, personal finance, or legal advice. It is not intended,

More information

Choosing and Using a Checking Account

Choosing and Using a Checking Account LESSON 8 Choosing and Using a Checking Account Introduction Buying a new mp3 player is not a snap decision. You have to know the storage capacity of the player the larger the capacity, the more music and

More information

If you would like translation assistance, please contact HR Direct at 866-473-4728.

If you would like translation assistance, please contact HR Direct at 866-473-4728. Dear Associate, Limited Brands offers two cost effective, environmentally friendly ways of delivering associates pay. You can choose the option that makes sense for you: either direct deposit or a Visa

More information

Standard 4: The student will demonstrate the ability to balance a checkbook and reconcile financial accounts. Standard 4.

Standard 4: The student will demonstrate the ability to balance a checkbook and reconcile financial accounts. Standard 4. TEACHER GUIDE 4.1 MANAGING A BANK ACCOUNT PAGE 1 Standard 4: The student will demonstrate the ability to balance a checkbook and reconcile financial accounts. Standard 4. Tracking Your Money Priority Academic

More information

Unit 5: Banking Options

Unit 5: Banking Options Read Chapter 5 in the text. Unit 5: Banking Options Read this unit including websites. Suggestions: you may want to write down some key points. This information will be very basic for some of you. For

More information

Credit Cards: Advantages & Disadvantages

Credit Cards: Advantages & Disadvantages Credit Cards: Advantages & Disadvantages Latino Community Credit Union & Latino Community Development Center CREDIT CARDS: BUILDING A better FUTURE ADVANTAGES AND DISADVANTAGES Latino Community Credit

More information

Share Draft/Checking Account Basics

Share Draft/Checking Account Basics Goals Share Draft/Checking Account Basics By the end of this session, students will be able to explain and understand: How and why checks are used What factors to compare when shopping for an account How

More information

Standard 4: The student will demonstrate the ability to balance a checkbook and reconcile financial accounts. Standard 4.

Standard 4: The student will demonstrate the ability to balance a checkbook and reconcile financial accounts. Standard 4. STUDENT MODULE 4.1 MANAGING A BANK ACCOUNT PAGE 1 Standard 4: The student will demonstrate the ability to balance a checkbook and reconcile financial accounts. Standard 4. Tracking Your Money Alexis stops

More information

Vocabulary Financial Institutions Student Worksheet

Vocabulary Financial Institutions Student Worksheet Vocabulary Student Worksheet Page 1 Name Period Primary 1. Bounced Check: Vocabulary Financial Institutions Student Worksheet 2. ATM Charge: 3. Stop Payment Fee: 4. Travelers Checks: 5. ATM: 6. FDIC: 7.

More information

Savings and Bank Accounts

Savings and Bank Accounts LESSON 2 Savings Savings and Bank Accounts Quick Write Suppose a relative gives you a generous gift of $1,000 for your sixteenth birthday. Your parent or guardian says that you can spend $50 on things

More information

u.s. bank focus card Frequently Asked Questions The Focus Card What is the Focus Card? How does the Focus Card work?

u.s. bank focus card Frequently Asked Questions The Focus Card What is the Focus Card? How does the Focus Card work? Frequently Asked Questions What is the Focus Card? The Focus Card is a reloadable, prepaid debit card issued by U.S. Bank. It provides an electronic option for receiving your pay. It is not a credit card,

More information

CHECKING 101 EDUCATION. Practice & Reference Material

CHECKING 101 EDUCATION. Practice & Reference Material CHECKING 101 EDUCATION Practice & Reference Material BOOKLET INFORMATION Thank you for your willingness to learn more about managing your checking account and how to better use the tools Academy Bank offers

More information

TABLE OF CONTENTS. Introduction 3. General Guidelines for Successful Account Management 3. Managing Your Checking Account. 1.

TABLE OF CONTENTS. Introduction 3. General Guidelines for Successful Account Management 3. Managing Your Checking Account. 1. TABLE OF CONTENTS Introduction 3 General Guidelines for Successful Account Management 3 Managing Your Checking Account 1. Check Register 2. Planning 3. Recording Your Transactions 4. Balancing Your Account

More information

Personal Banking 101 Interested in learning about how to manage your money? Personal Banking 101 will help you understand the financial fundamentals.

Personal Banking 101 Interested in learning about how to manage your money? Personal Banking 101 will help you understand the financial fundamentals. Personal Banking 101 Interested in learning about how to manage your money? Personal Banking 101 will help you understand the financial fundamentals. Checking Account If you need a safe place to keep your

More information

Checking Account & Debit Card Simulation and Student Worksheet. Understanding Checking Accounts and Debit Card Transactions

Checking Account & Debit Card Simulation and Student Worksheet. Understanding Checking Accounts and Debit Card Transactions Checking Account & Debit Card Simulation and Student Worksheet Understanding Checking Accounts and Debit Card Transactions What is a Checking Account? Common financial service used by many consumers Funds

More information

What is a Checking Account? Checking Account & Debit Card Simulation. What is a Check? Bouncing a Check. Other Checking Components

What is a Checking Account? Checking Account & Debit Card Simulation. What is a Check? Bouncing a Check. Other Checking Components Checking Account & Debit Card Simulation Understanding Checking Accounts and Debit Card Transactions What is a Checking Account? Common financial service used by many consumers Funds are easily accessed

More information

MBTeam Banking. Personal Banking Checking Basics

MBTeam Banking. Personal Banking Checking Basics MBTeam Banking Personal Banking Checking Basics What is a Checking Account? A checking account allows you to write checks or use a debit card to pay bills and buy goods. Benefits of a Checking Account

More information

Checking 101. Checking Out Checking Accounts

Checking 101. Checking Out Checking Accounts Checking 101 Checking Out Checking Accounts Checking Account Basics A check is a written order that represents cash Credit Union checking accounts are also called SHARE DRAFT accounts A share draft is

More information

Choosing and Using a Checking Account

Choosing and Using a Checking Account LESSON 8 Choosing and Using a Checking Account LESSON DESCRIPTION AND BACKGROUND The students learn the fundamentals of maintaining a checking account. They examine electronic banking methods, the writing

More information

TEENS & GRADS: FREQUENTLY ASKED BANKING QUESTIONS

TEENS & GRADS: FREQUENTLY ASKED BANKING QUESTIONS TEENS & GRADS: FREQUENTLY ASKED BANKING QUESTIONS CREDIT AND LOANS What is a credit score and why is it so important? A credit score is a number that strongly indicates to lenders and creditors how likely

More information

Checking 101. Property of Penn State Federal Credit Union

Checking 101. Property of Penn State Federal Credit Union Checking 101 Checking 101 Checking Account Basics A check is a written order that represents cash Credit Union checking accounts are also called SHARE DRAFT accounts A share draft is equivalent to a check,

More information

Checking Account. Check writing ability. ATM/Debit Card. Direct Deposit capabilities. Online Banking & Bill Pay

Checking Account. Check writing ability. ATM/Debit Card. Direct Deposit capabilities. Online Banking & Bill Pay Banking 101 Banking 101 Contents Checking Accounts Savings Accounts Balancing Checkbook Clearing Transactions Overdrawn Accounts ATM/Debit Card Direct Deposit Online Banking 2 Checking Account Check writing

More information

Slide 2 PROPERTIES. Allow user to leave quiz: User may view slides after quiz:

Slide 2 PROPERTIES. Allow user to leave quiz: User may view slides after quiz: Slide 1 Banking The information provided in this e-course is intended for educational purposes only and does not constitute specific advice for you as an individual. When evaluating your particular needs,

More information

Checking Account & Debit Card Simulation. Understanding Checking Accounts and Debit Card Transactions

Checking Account & Debit Card Simulation. Understanding Checking Accounts and Debit Card Transactions Checking Account & Debit Card Simulation Understanding Checking Accounts and Debit Card Transactions What is a Checking Account? Common financial service used by many consumers Funds are easily accessed

More information

Adults Version. Instructor guide. 2003, 2012 Wells Fargo Bank, N.A. All rights reserved. Member FDIC. ECG-714394

Adults Version. Instructor guide. 2003, 2012 Wells Fargo Bank, N.A. All rights reserved. Member FDIC. ECG-714394 Adults Version Instructor guide 2003, 2012 Wells Fargo Bank, N.A. All rights reserved. Member FDIC. ECG-714394 Welcome to Wells Fargo s Hands on Banking program! This fun, interactive, and engaging financial

More information

Using Banking Services

Using Banking Services Teacher's Guide $ Lesson Six Using Banking Services 04/09 using banking services websites websites for banking services The internet is probably the most extensive and dynamic source of information in

More information

I don t know my Employee Identification Number. How do I get it? Contact LAUSD Personnel, Human Resources, or your Supervisor.

I don t know my Employee Identification Number. How do I get it? Contact LAUSD Personnel, Human Resources, or your Supervisor. FAQ What is California Credit Union s Pay Card? CCU s Pay Card is a Visa -branded reusable debit card created exclusively for LAUSD employees. The employee has access to their pay 24 hours a day, 7 days

More information

lesson six using banking services teacher s guide

lesson six using banking services teacher s guide lesson six using banking services teacher s guide using banking services web sites web sites for banking services The Internet is probably the most extensive and dynamic source of information in our society.

More information

Banking Procedures. Online Resources CHAPTER 5

Banking Procedures. Online Resources CHAPTER 5 CHAPTER 5 Banking Procedures Getty Images/PhotoDisc C hapter 5 discusses banking activities for consumers and banking in the United States. Many benefits and services for consumers are available from financial

More information

How to manage manage your your checking checking account. account.

How to manage manage your your checking checking account. account. How How to manage to manage your your checking checking account. account. Introduction Welcome to Desert Schools Federal Credit Union. Congratulations on your first checking account! It s the perfect time

More information

Participant Guide Building: Knowledge, Security, Confidence FDIC Financial Education Curriculum

Participant Guide Building: Knowledge, Security, Confidence FDIC Financial Education Curriculum Check It Out Building: Knowledge, Security, Confidence FDIC Financial Education Curriculum TABLE OF CONTENTS Page Determining Your Checking Account Needs 1 Checking Account Fees 2 Practice Exercise: Choosing

More information

Welcome! You ve made a wise choice opening a savings account. There s a lot to learn, so let s get going!

Welcome! You ve made a wise choice opening a savings account. There s a lot to learn, so let s get going! Savings Account Welcome! Welcome to Young Americans Bank, the only bank in the world designed specifically for young people! Mr. Bill Daniels started Young Americans Bank in 1987 because he thought it

More information

PAYROLL CARD FREQUENTLY ASKED QUESTIONS

PAYROLL CARD FREQUENTLY ASKED QUESTIONS The following document provides answers to frequently asked questions regarding the Umpqua Bank Payroll Card. Contact Customer Care at 800-650-7141 with questions. Card Basics Q. How does the Payroll Card

More information

Using my PAYCHEK PLUS!

Using my PAYCHEK PLUS! Using my PAYCHEK PLUS! Saving Money Pay day 300 Cost 7.50 2.5% of check 1.75* per visit * Or, get my entire paycheck cashed free by using my first free transaction per pay period to purchase a US Post

More information

How to Use Credit. Latino Community Credit Union & Latino Community Development Center

How to Use Credit. Latino Community Credit Union & Latino Community Development Center How to Use Credit Latino Community Credit Union & Latino Community Development Center How to Use Credit Latino Community Credit Union & the Latino Community Development Center www.latinoccu.org Copyright

More information

Learning about. Checking. Accounts WHAT YOU NEED TO KNOW. 2010 Deluxe Corp. All Right Reserved.

Learning about. Checking. Accounts WHAT YOU NEED TO KNOW. 2010 Deluxe Corp. All Right Reserved. Learning about Checking Accounts WHAT YOU NEED TO KNOW 2010 Deluxe Corp. All Right Reserved. Contents Learn About Checking Accounts................................3 Write a Check....................................................4

More information

Banking Test - MoneyPower

Banking Test - MoneyPower Banking Test - MoneyPower Multiple Choice Identify the choice that best completes the statement or answers the question. 1. If a person makes a deposit of $10,000 or more into a bank account, the bank

More information

Basic Banking. Presented by Bank on Gaithersburg, Family Services, Inc., and MD CASH Academy

Basic Banking. Presented by Bank on Gaithersburg, Family Services, Inc., and MD CASH Academy Basic Banking Presented by Bank on Gaithersburg, Family Services, Inc., and MD CASH Academy Financial Institutions What are they- banks, credit unions What do they offer: Checking accounts Savings accounts

More information

TABLE OF CONTENTS. Introduction 3. General Guidelines for Successful Account Management 3. Managing Your Checking Account. 1.

TABLE OF CONTENTS. Introduction 3. General Guidelines for Successful Account Management 3. Managing Your Checking Account. 1. TABLE OF CONTENTS Introduction 3 General Guidelines for Successful Account Management 3 Managing Your Checking Account 1. Check Register 2. Planning 3. Recording Your Transactions 4. Balancing Your Account

More information

Instructor Guide Building: Knowledge, Security, Confidence FDIC Financial Education Curriculum

Instructor Guide Building: Knowledge, Security, Confidence FDIC Financial Education Curriculum Bank On It Building: Knowledge, Security, Confidence FDIC Financial Education Curriculum TABLE OF CONTENTS Page Module Overview 1 Purpose 1 Objectives 1 Time 1 Materials and Equipment Needed to Present

More information

Date Here. Welcome University of Michigan International Students

Date Here. Welcome University of Michigan International Students Date Here Welcome University of Michigan International Students U.S. Banking System Overview Banking is regulated by federal and state governments Privacy Disclosure Fraud protection Protection against

More information

Instructor Guide Building: Knowledge, Security, Confidence FDIC Financial Education Curriculum

Instructor Guide Building: Knowledge, Security, Confidence FDIC Financial Education Curriculum Check It Out Building: Knowledge, Security, Confidence FDIC Financial Education Curriculum TABLE OF CONTENTS Page Module Overview 1 Purpose 1 Objectives 1 Time 1 Materials and Equipment Needed to Present

More information

1.4. Will my Social Security and Supplemental Security Income benefits be safe?

1.4. Will my Social Security and Supplemental Security Income benefits be safe? 1. OVERVIEW 1.1. What is the Direct Express card? The Direct Express card is a prepaid debit card available to Social Security and Supplemental Security Income check recipients who wish to receive their

More information

lesson six banking services supplemental materials 04/09

lesson six banking services supplemental materials 04/09 lesson six banking services supplemental materials 04/09 banking terms account Money deposited with a financial institution for investment and/or safekeeping purposes. assets Items of monetary value (e.g.,

More information

Account a service provided by a bank allowing a customer s money to be handled and tracks money coming in and going out of the account.

Account a service provided by a bank allowing a customer s money to be handled and tracks money coming in and going out of the account. Account a service provided by a bank allowing a customer s money to be handled and tracks money coming in and going out of the account. Account fee the amount charged by a financial institution for the

More information

Banking Basics. Banking 101

Banking Basics. Banking 101 Banking Basics Banking 101 What will you learn today An introduction to common terms and concepts you will come across Basic accounts with common features What to think about when picking an account or

More information

BANKING FOR SUCCESS PRE-CLASS YOUR NAME: DATE:

BANKING FOR SUCCESS PRE-CLASS YOUR NAME: DATE: BANKING FOR SUCCESS PRE-CLASS YOUR NAME: DATE: Please answer the following questions for us it will help us learn more about the problems our participants face so that we can make the classes better. Please

More information

Opening a Bank Account

Opening a Bank Account Opening a Bank Account Section Objectives A basic component in establishing financial independence is Opening a Bank Account. Banking services are essential tools for managing personal finances and building

More information

Getting and Keeping A Checking Account

Getting and Keeping A Checking Account Getting and Keeping A Checking Account You've decided to get a checking account. That's a good idea. Your money will be safe and you'll have a record of what you've paid for. You'll know how much you have

More information

Learn to Manage Your Checking Account and Protect Your Money

Learn to Manage Your Checking Account and Protect Your Money Managing Your Checking Account Learn to Manage Your Checking Account and Protect Your Money Benefits of Your Checking Account Maintaining your TFCU share draft (checking) account responsibly and accurately

More information

Uneasy about getting started? Not to worry. SageLink Credit Union has trained employees to help you every step of the way.

Uneasy about getting started? Not to worry. SageLink Credit Union has trained employees to help you every step of the way. Checking If you re like most young adults, you spend a lot of time thinking about money. How to get money? What to spend your money on? Where to keep your money in between? A MoneyLink Checking account

More information

Checking and Banking

Checking and Banking Chapter 5 Checking and Banking 5.1 Checking Accounts 5.2 Banking Services and Fees Lesson 5.1 Checking Accounts Learning Objectives LO 1-1 Describe the purpose of a checking account and the forms associated

More information

General. Q. Where do I send a pay-off? A. Payoffs can be given to a Member Service Representative at the branch or mailed to:

General. Q. Where do I send a pay-off? A. Payoffs can be given to a Member Service Representative at the branch or mailed to: General Q. What is a credit union? A. A credit union is a not-for-profit organization that is owned by its members. The primary function of the credit union is to serve its members. Credit unions focus

More information

Consumer Decision Making Contest 2001-2002 Study Guide ATM/Debit Cards

Consumer Decision Making Contest 2001-2002 Study Guide ATM/Debit Cards Consumer Decision Making Contest 2001-2002 Study Guide ATM/Debit Cards The popularity of ATM (automated teller machine) and debit cards is rising. ATM cards have a longer history than debit cards, but

More information

Learn about. How to deposit money. How to make withdrawals and write checks. How to keep track of your money

Learn about. How to deposit money. How to make withdrawals and write checks. How to keep track of your money Cumberland Security Bank s Checking School Learn about How to deposit money How to make withdrawals and write checks How to keep track of your money Depositing Money You can deposit cash and/or checks

More information

Many of these tips are just common sense and others are tips to keep in mind when doing a transaction, at ATMs, restaurants and merchants.

Many of these tips are just common sense and others are tips to keep in mind when doing a transaction, at ATMs, restaurants and merchants. Credit and Debit Card Security Tips Many of these tips are just common sense and others are tips to keep in mind when doing a transaction, at ATMs, restaurants and merchants. Be careful with your PIN Always

More information

ReliaCard THE RELIACARD FREQUENTLY ASKED QUESTIONS

ReliaCard THE RELIACARD FREQUENTLY ASKED QUESTIONS ReliaCard FREQUENTLY ASKED QUESTIONS ***Important Information Regarding Economic Assistance TANF Payments *** The State of South Dakota has partnered with U.S. Bank to provide you with a reloadable prepaid

More information

FBFCU VISA PREPAID DEBIT CARD FREQUENTLY ASKED QUESTIONS (FAQs)

FBFCU VISA PREPAID DEBIT CARD FREQUENTLY ASKED QUESTIONS (FAQs) ABOUT THE FORT BRAGG FEDERAL CREDIT UNION VISA PREPAID CARD What is the FORT BRAGG FEDERAL CREDIT UNION Visa Prepaid Card? Is the FORT BRAGG FEDERAL CREDIT UNION Card like a checking or savings account?

More information

Purpose of a Checking Account- Money is deposited into an account and checks or drafts can be written to withdraw money from the account.

Purpose of a Checking Account- Money is deposited into an account and checks or drafts can be written to withdraw money from the account. CHAPTER 9 CHECKING ACCOUNTS AND BANKING SERVICES Purpose of a Checking Account- Money is deposited into an account and checks or drafts can be written to withdraw money from the account. Demand Deposit-

More information

Table of Contents. Module Summary... 37 Knowledge Check... 38. Module 2: Check It Out Participant Guide. Money Smart for Young Adults Modules...

Table of Contents. Module Summary... 37 Knowledge Check... 38. Module 2: Check It Out Participant Guide. Money Smart for Young Adults Modules... Table of Contents Money Smart for Young Adults Modules...3 Your Guides...4 pre-assessment...5 Checking In...6 Welcome... 6 Purpose... 6 Objectives... 6 Agenda and Ground Rules... 7 Student Materials...

More information

It s Your Paycheck! Glossary of Terms

It s Your Paycheck! Glossary of Terms Annual percentage rate The percentage cost of credit on an annual basis and the total cost of credit to the consumer. APR combines the interest paid over the life of the loan and all fees that are paid

More information

G.A.P. Federal Credit Union. Click to Continue

G.A.P. Federal Credit Union. Click to Continue G.A.P. Federal Credit Union Click to Continue MAKE YOUR PAYMENTS THE EASY WAY WRITE A CHECK Click to Continue Knowing how to use a share draft/checking account is an important skill for today. It provides

More information

Introduction to Savings and Checking Accounts

Introduction to Savings and Checking Accounts Introduction to Savings and Checking Accounts LESSON PREPARATION AND TEACHER INFORMATION Lesson Summary: This lesson is intended for elementary students during a forty minute time period. The lesson teaches

More information

Teacher's Guide. Lesson Six. Banking Services 04/09

Teacher's Guide. Lesson Six. Banking Services 04/09 Teacher's Guide $ Lesson Six Banking Services 04/09 banking services websites Students will make wise choices about their banking services once they understand such fundamentals as: selecting and managing

More information

What does a checking account do?

What does a checking account do? Checking 101 What does a checking account do? A checking account allows you to write checks to pay bills and buy goods. The financial institution takes the money from your account and pays it to the person

More information

Tips on Managing Your Checking Account

Tips on Managing Your Checking Account Tips on Managing Your Checking Account How to Successfully Manage Your Checking Account By Liberty Check Printers Credit Union members have access to one of the most powerful checking account management

More information

Arab Bank Cards User Guide

Arab Bank Cards User Guide Arab Bank Cards User Guide 4600900 arabbank.jo A card to suit every lifestyle Coming to you from the largest Arab banking network, Arab Bank Cards entitle you to a host of benefits designed to offer you

More information

PRINT NEW HIRE PACKET ONE-SIDED. The DEADLINE for all paperwork is no later than two days prior to the employee s start date

PRINT NEW HIRE PACKET ONE-SIDED. The DEADLINE for all paperwork is no later than two days prior to the employee s start date HUMAN RESOURCES DIVISION 6 East 6 th Street / P.O. Box 708 Lawrence, KS 66044 PHONE: (785) 832-3203 FAX: (785) 832-3228 lawrenceks.org/jobs From: Human Resources Division To: Supervisors HIRING PAPERWORK

More information

Copyright 2011: Penn East Federal Credit Union

Copyright 2011: Penn East Federal Credit Union Copyright 2011: Penn East Federal Credit Union Why bank with a credit union? A credit union is a not-for-profit financial institution. Unlike a bank, our members are our owners. We work for you! Penn East

More information

BANKING 101. Consolidated Credit 5701 West Sunrise Boulevard Fort Lauderdale, FL 33313 1-800-210-3481 www.consolidatedcredit.org

BANKING 101. Consolidated Credit 5701 West Sunrise Boulevard Fort Lauderdale, FL 33313 1-800-210-3481 www.consolidatedcredit.org BANKING 101 Consolidated Credit 5701 West Sunrise Boulevard Fort Lauderdale, FL 33313 1-800-210-3481 www.consolidatedcredit.org Congratulations on taking this important step to learn about issues dealing

More information

T +1 (345) 949-0330 / F +1 (345) 945-1448 / E: The Banking Code. Contents

T +1 (345) 949-0330 / F +1 (345) 945-1448 / E: The Banking Code. Contents 1107 T +1 (345) 949-0330 / F +1 (345) 945-1448 / E: The Banking Code Contents 1 Introduction 3 2 Our Key Commitments to you 3 3 Helping you to choose Products and Services which meet your Needs 4 4 Interest

More information

Prepaid Cards. An alternative to credit and debit cards. When choosing how to pay for their purchases, consumers have many options.

Prepaid Cards. An alternative to credit and debit cards. When choosing how to pay for their purchases, consumers have many options. General-purpose reloadable prepaid cards Prepaid Cards An alternative to credit and debit cards When choosing how to pay for their purchases, consumers have many options. Cash, check, debit and credit

More information

BENEFITS QUALIFICATION CYCLE REQUIREMENTS

BENEFITS QUALIFICATION CYCLE REQUIREMENTS BENEFITS What are the benefits of MidWest Reward Checking? Earn 1.51% APY (Annual Percentage Yield) on balances through $10,000 Earn 0.26% APY on any amount in excess of $10,000 ATM fees refunded up to

More information

Strategies WHICH ACCOUNT INTEREST. Should I Be Banking? Savings Account. Savings Account. Is Best for Me? Making the Most TEEN GUIDE

Strategies WHICH ACCOUNT INTEREST. Should I Be Banking? Savings Account. Savings Account. Is Best for Me? Making the Most TEEN GUIDE TEEN GUIDE moneytalks4teens.org Should I Be Banking? Savings Account Strategies It s finally payday! But what are you going to do with your hard-earned money? Go shopping, put some away for college, see

More information

Managing Money. Where does your money go? Eight Steps to Better Money Management. Setting Goals

Managing Money. Where does your money go? Eight Steps to Better Money Management. Setting Goals Option 7 Teacher Information Page 1 Where does your money go? Managing Money If you do not keep track of your expenses, you won t whether you are spending your money wisely. When you know where your money

More information

Table of Contents... 1. Money Smart... 2. Check It Out... 3. Determine Your Checking Account Needs... 4. Checking Account Fees...

Table of Contents... 1. Money Smart... 2. Check It Out... 3. Determine Your Checking Account Needs... 4. Checking Account Fees... $ Table of Contents Table of Contents... 1 Money Smart... 2 Check It Out... 3 Determine Your Checking Account Needs... 4 Checking Account Fees... 5 Types of Checking Accounts... 7 Choosing a Checking Account...

More information

An Employer s Guide to Payroll Cards

An Employer s Guide to Payroll Cards An Employer s Guide to Payroll Cards An important part of your role as an employer is to ensure that you pay your workers promptly and accurately, and that you comply with federal and state payroll laws

More information

Checking Account and Debit Card Simulation

Checking Account and Debit Card Simulation Checking Account and Debit Card Simulation Student Instructions and Worksheets Introductory Level Take Charge Today May 2006 Checking Account & Debit Card Simulation Page 1 Checking Account Student Instructions

More information

WELCOME Follow this easy checklist to start your account off right!

WELCOME Follow this easy checklist to start your account off right! WELCOME Follow this easy checklist to start your account off right! Enroll in online banking services Enroll in Online Banking at (click on Enroll on the top red bar and enter your information) - Required

More information

ELECTRONIC FUND TRANSFERS YOUR RIGHTS AND RESPONSIBILITIES

ELECTRONIC FUND TRANSFERS YOUR RIGHTS AND RESPONSIBILITIES ELECTRONIC FUND TRANSFERS YOUR RIGHTS AND RESPONSIBILITIES Indicated below are types of Electronic Fund Transfers we are capable of handling, some of which may not apply to your account. Please read this

More information

Table of Contents. Money Smart for Adults Curriculum Page 2 of 78 982

Table of Contents. Money Smart for Adults Curriculum Page 2 of 78 982 981 Table of Contents Getting Started... 3 Module 3: Check It Out Part 1 Layering Table... 4 Module 3: Check It Out Part 2 Layering Table... 5 Icons Guide... 6 Module Overview... 6 Checking In... 8 Part

More information

Participant Guide Building: Knowledge, Security, Confidence FDIC Financial Education Curriculum

Participant Guide Building: Knowledge, Security, Confidence FDIC Financial Education Curriculum Bank On It Building: Knowledge, Security, Confidence FDIC Financial Education Curriculum TABLE OF CONTENTS Page Banking Basics 1 Opening and Maintaining a Bank Account 2 Choosing a Bank Checklist 3 Practice

More information

The choice between four great checking account options. Convenient branch locations with drive-thru ATM access

The choice between four great checking account options. Convenient branch locations with drive-thru ATM access Switch To A United Consumers Checking Account And Enjoy... The choice between four great checking account options FREE 24/7 online account access FREE 24/7 telephone account access FREE MasterMoney Debit

More information

Banking made clear. Information pack for people with learning disabilities.

Banking made clear. Information pack for people with learning disabilities. Banking made clear Information pack for people with learning disabilities. This handy guide provides information about how you can: open and manage your own bank account keep safe when you are using your

More information

Banking made clear. Information pack for people with learning disabilities.

Banking made clear. Information pack for people with learning disabilities. Banking made clear Information pack for people with learning disabilities. This handy guide provides information about how you can: open and manage your own bank account keep safe when you are using your

More information

Tips and Answers: Banking Basics Case Studies Case Study: The Piggy Bank

Tips and Answers: Banking Basics Case Studies Case Study: The Piggy Bank Tips and Answers: Banking Basics Case Studies Case Study: The Piggy Bank Twins Emma and Emmett are excited to be starting college next year. Emma is leaving home behind and heading to college in Florida

More information

Bank On It ~ The Basics Participant s Guide

Bank On It ~ The Basics Participant s Guide Bank On It ~ The Basics Participant s Guide 1 Table of Contents Welcome The Four Money Cycles Pre-Test How It Works Introductions to Banks and Credit Unions Financial Institutions vs. Check-Cashing Services

More information

Why do you need my Social Security Number and other personal information when I enroll for an I.C.E. card?

Why do you need my Social Security Number and other personal information when I enroll for an I.C.E. card? ABOUT THE ICE MasterCard Prepaid CARD What is the I.C.E MasterCard Prepaid CARD? Is the I.C.E. Card like a checking or savings account? Are funds loaded on to the I.C.E. Card FDIC insured? Are there age

More information

Direct Payment - A Simple Guide

Direct Payment - A Simple Guide Bank A5 21/10/03 10:25 AM Page 1 Direct Payment - A Simple Guide Information you need about the new ways that benefits will be paid. Bank A5 21/10/03 10:25 AM Page 2 What is Direct Payment? Direct Payment

More information

Banking Guide for International Students usbank.com/northwestern

Banking Guide for International Students usbank.com/northwestern Banking Guide for International Students usbank.com/northwestern Member FDIC Opening a U.S. Bank Checking Account Q. What form of identification will I need to open a U.S. Bank checking account? A. International

More information