Checking Savings CDs Checking What is a checking

Checking, Savings, CD's

Checking What is a checking account? 1. An account for the storage and movement of funds under bank provided protection and benefits What is the process to acquire a checking account? 1. Filing and account application and terms agreement Restrictions on checking accounts 1. Limits on withdrawls 2. Fund transferes between accounts 3. Minimum balance requirement https: //www 5. bankofamerica. com/depo sits/index. action? body=check_overvie w

Checking What is overdraft protection? 1. protection for charges cause by overdrawing your account or using money not currently the account used in the transaction. How to get over draft protection: 1. You request it form the company and pay a nominal fee for the service What happens if you overdraw on a checking account? 1. Most commonly funds are transferred from your savings or other available account to make up for the remainder of the transaction What are the reprecussions? 1. Over draft fee

Checking How are checking acounts What are debit accounts? 1. Most easily described as an and ATM related? 1. An atm can be used to quickly withdraw. deposit, and transfer funds to and from your checking account What kinda fees are associated with checking accounts? 1. Deposit fees 2. Withdrawl fees 3. Tranfere fees 4. Checking fees 5. Monthly fees account much like a credit account using your funds rather then using credit that requires you to pay a company with intrest on money spent as well as the transaction fee How they are connected to checking account? 1. they can be connected to a checking account as a source of funds as a replacement for direct deposit into the debit account.

Checking Bank Terms 1. Over Draft 2. Withdrawl 3. Deposit 4. Transfer 5. Fees Online Banking How it works with checking: Filling out all the same information electronically through the banking companies web as you would through paper documentation though with electronic documentation allowing for the tranaction to be made much more rapidly.

Checking Accounts that can be connected to checkings account: 1. Debit accounts 2. Savings accounts 3. Credit accounts 4. Reasons for connecting accounts: 1. Eliminate or reduce fees for transfering funds between accounts 2. increase managability of checking account How to get checks? 1. request them from the bank and pay nominal fee if nessiscary

Checking Different types of checking accounts: 1. Basic 2. Free 3. Interest-Bearing 4. Joint 5. Express 6. Lifeline 7. Senior/Student 8. Money Market http: //www. bankrate. com/finance/check ing/types-of-checking-accounts-1. aspx Life line checking account are for low balance accounts normally depending on low income with little to no monthly fees. Allowing the use of a limited number of checks per month.

Checking How to complete a Check: 1. Current Date 2. The amount to be paid to the recipent 3. Name of recipient 4. Any additional information 5. Your Signature How to keep track of a checking account: 1. Requesting monthly statements 2. Checking the online status of your account that is updated regularly 3. Contacting your branch of your bank and requesting information on the status of your account 4. Using Excel to personally monitor your own transactions

Checking How to balance a checking account: 1. Calculate total income for the time 2. Calculate the total amount of expenses up to date 3. Use the total expenses to determine the remainder of fund remaining in your account Ways your finacial companies inform you of your account status: 1. Paper Statements 2. Emails 3. Electronic account status

Checking Payroll Deductions can be set up and managed in these ways: 1. Request payroll deductions in forms 2. Arrange payroll deductions through electronic banking 3. Manage the deduction after monthly statements 4. manage deductions through your electronic banking account Who can create payroll deductions? 1. You 2. Your employer

Checking Do you get intrest on checking accounts? Applying for an interest checking account Rate of return: Hovering around. 5%- 1. 2% on average A NOW account is a Negotiable Order of Withdrawal Account It is used to create intrest on an account that under normal circumstance would be unable to contain interest in the plan

CD's What is a CD? Certificate of Deposit is a popular way to invest you money safely Who can get a CD? Anyone with a bank account can request and purchase a CD for their bank. What is Intrest and how is it related to a CD? Interest is a fee paid on barrowed assests It is the way CD's are used to accumulate fund through the companies use of your money they produce and income and you are paid interest or a fraction of the income for your original investment.

CD's Are there Fees related to a CD? YES What are they? Fed Fund fee, Annual Custody fee, IRA Maintenance Fee, IRA Closure Fee, Bounced Checks, Slop payment transferes, Legal returns, Physical reorganization, milgrams, extensions What is term and how is it related to CD's? A term is a set period of time in which an action takes place or a action remains constant. CD's are locked in for a set term befor they can be removed, reinvested, or flipped back into a CD.

CD's Are there penalties related to CD's? Withdrawl Penalties and Wavier Penalty Is a CD insured? Yes By Who? FDIC and NCVA By how much? Where do you get a CD? A Bank Up to $250, 000 What does maturing mean? Complete in growth or development of sufficent funds

CD's How do you avoid CD penalties? ask a worker at the bank if it would be possible to waiver the penalties

Questions 1 -5 1) List 2 restrictions on Checking Accounts. 2) Name 2 places you can apply for a Checking or Savings account. 3) How would one obtain overdraft protection for their policy? 4) Ways your company informs you of the status of your account? 5) How to get Checks?

Answeres 1 -5 1) 1. 2. 3. 2) 1. 2. 3) 1. Limits on withdrawls Fund transferes between accounts Minimum balance requirement Bank Online application Request the benefit from their bank through electronic or paper application and pay any fee if necessary that may accommodate the benefit 4) 1. online status updates, monthly statements, Emails, and ATM balance check 5) 1. Request them at the bank, Order them to be delivered from the banks website

Questions 6 -10 6) What is a CD? 7) How do you get interest on a checking account? 8) What is a NOW account? 9) Are there fees on CD's? if so name 3. 10) What are 3 basic types of checking accounts?

Answeres 6 -10 6) 1. A Certificate of Deposite 7) 1. Applying for an interest checking account 8) 1. Negotiable Order of Withdrawal Account 9) 1. Fed Fund fee, Annual Custody fee, IRA Maintenance Fee, IRA Closure Fee, Bounced Checks, Slop payment transferes, Legal returns, Physical reorganization, milgrams, extensions 10) 1. Basic, Free, Interest-Bearing, Joint, Express, Lifeline, Senior/Student, and Money Market