BANKING AND CHECKING SUMMARY PROJECT

BANK SERVICES

• Checking account
• Credit card

ADVANTAGES

• Can help you save money.
• Can help you establish a credit record.
• Provide security for your funds
• Provide additional convenience.

WHATS NEEDED TO OPEN CHECKING ACCOUNT

• Identification
• Social security number
• Current email address
• Account number

COMMON BANK FEES

• Overdraft item fee
• Returned item fee
• Monthly maintenance fee
• Unavailable funds

EFT

• Electronic funds transfer
• Credit card
• Debit card
• Online banking

ADVANTAGES OF ONLINE BANKING

• Complete transactions
• Receive statements
• Helps organize your personal finances
• Wide variety of checking and banking accounts

SAVINGS/INVESTING

• Basic bank savings accounts
• High yield savings accounts
• Stocks
• Mutual funds

COMPOUND INTEREST

• Anyone can benefit from it
• Time is on your side
• You want savings to compound as often as possible.
• It adds up faster than you think.

SAVING FOR RETIREMENT

• Save every penny you have
• Start saving as early as possible
• A little goes a long way
• Invest in as much as you can

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