February 11, Megabyte Money.notebook. Megabyte Money. Electronic "money" that replaces currency & checks. Sep 18-8:51 PM

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1 Megabyte Money Electronic "money" that replaces currency & checks. Sep 18-8:51 PM 1

2 With the Internet, electronic transfers, payments, & banking have been made easier and more popular. Electronic Funds Transfer (EFT) allow for the substitution of checks and cash by using signals between networked computer systems. One example of EFT would be a direct deposit from your employee into your bank account. Sep 18-8:56 PM 2

3 ATM - Automated Teller Machine 1. Withdraw Cash 2. Transfer funds between accounts 3. Make a Deposit 4. Check your balance Two things you need: 1. Card 2. PIN # Sep 15-9:37 AM 3

4 Examples of Megabyte Money Debit Card - also known as a check card 1. Combination of a check card and ATM card 2. Typically bear a VISA or MasterCard symbol 3. Have 16 digits account number on the front along with exp. date and your name 4. Deducts directly from checking account Sep 18-9:04 PM 4

5 Regulation E -- banks will not automatically pay one time and/or recurring ATM or debit card transactions if there are not enough funds in your account. Sep 18-9:08 PM 5

6 Do's Do's / Don'ts of ATM & Debit Cards Report lost/stolen card Visit an ATM that is in a well-lit area Count your cash at the ATM Make a PIN number that's easy Lend your PIN to someone else Use an ATM if someone is watching Be aware of skimming Record all your transactions Keep your PIN away from your card Don'ts Sep 18-9:06 PM 6

7 1. Provides you access to your bank accounts 24/7 2. You should have a username & password that is uncommon when setting up your online access FYI - A Bank will NEVER request information via & typically not by phone. It's best to always go to the bank in person if they request information from you. Sep 18-9:11 PM 7

8 Online Bill Pay You can send a check electronically using EFT. You can set up recurring payments that will automatically be withdrawn. You can also pay a bill once -- this typically incurs a fee. Sep 18-9:19 PM 8

9 Check 21 Conversion Law that allows the electronic exchange of check payment information. A substitute check is created which is just an electronic image of the original check Sep 18-9:32 PM 9

10 Vendor Payment Options Electronic bill payments offered by service providers such as phone companies, utility companies, insurance companies, mortgage companies, etc. Sep 18-9:22 PM 10

11 Mobile Text Banking Use your mobile device/phone to access account information. Sends text messages of your balance, transaction history, banking information, etc. Sep 18-9:25 PM 11

12 Telephone Banking Automated messages guide you through various options so you can access your account to perform basic banking functions A PIN is required to use this service (once again, choose something that is not obvious.) Sep 18-9:26 PM 12

13 Stored Value Cards (Gift Cards) The equivalent of cash Each card is worth a specific dollar amount Some cards can be "reloaded" They are disposable but when stolen, there's nothing you can do to retrieve them Some cards will deduct "fees" if you do not use them within a specific time period Sep 18-9:28 PM 13

14 Electronic-Commerce Shop online 24/7 Make purchases with debit or credit card or stored value card Be sure to use protected/ secure web sites Research before you buy -- is the seller well-known and "trusted" Sep 18-9:30 PM 14

15 Protecting Your Personal Information Phishing - text, pop-up or requesting personal info. Online Purchases - Secure web sites, recognize the vendor Operating System & Web Browser - Keep up-to-date with latest security packages Computer Disposal - "Wipe" your hard drives clean Wireless Network - Use a wireless router with a password. Don't conduct private business on a public network. Sep 18-9:32 PM 15

16 Online Banking E-Commerce Telephone Banking ATM Megabyte Money Mobile Banking Debit Cards Takes money directly from checking Sep 18-9:34 PM 16

17 1. Vocabulary Crossword -- then review as a class 2. Studymaster #3 - Open Book & Open Note Quiz Sep 16-8:11 AM 17

18 If you are finished with the graphic organizer and questions, complete your weekly reflection by reading the Megabyte Money blog and answering the corresponding questions as your response. Be sure to use capitalization, punctuation, no texting words, proper grammar and complete sentences. Your response should be relevant and meaningful. After that, you can visit the following site to play any of the games: Sep 20-6:28 AM 18

19 Know Vocabulary Terms / Definitions Megabyte Money Online Banking Regulation E Stored Value Cards Phishing Electronic Funds Transfer E-Commerce Debit Card Check 21 Conversion Skimming Sep 18-7:57 AM 19

20 Name 2 and Security Measures to Protect Yourself & Describe. Examples: - Check for skimming devices at ATM - Wipe your hard drive clean if you throw computer away - Only use secure web sites when online shopping - Use a secure wireless network - Make difficult passwords that are at least 8 characters in length Sep 17-8:47 AM 20

21 ATM - Automated Teller Machine 1. Withdraw Cash 2. Transfer funds between accounts 3. Make a Deposit 4. Check your balance Sep 15-9:37 AM 21

22 Feb 9-3:15 PM 22

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