SECTION 4 6 Online Banking pp 182 187

SECTION 4 -6 Online Banking pp. 182 -187

SECTION 4 -6 Section Objective Compute: • online banking charges Update: • the check register MBA, Section 4 -6, Slide 2 of 13

SECTION 4 -6 Key Words to Know online banking (p. 182) Doing bank transactions, such as loan payments and funds transfers, electronically over the Internet. MBA, Section 4 -6, Slide 3 of 13

SECTION 4 -6 Formula Total Fees = Basic Charge + Bill Payments + Statement + ATM Surcharge + Cash Advance Fee MBA, Section 4 -6, Slide 4 of 13

SECTION 4 -6 Fleet Footed Finances p. 182 How might online banking affect Pinsky’s knowledge of the money in Fleet Footed’s bank account? MBA, Section 4 -6, Slide 5 of 13

SECTION 4 -6 Example 1 Tiwana Gombash uses the online banking plan shown below. She pays the basic charge, 7 bills, plus she requests a printed statement. She also has ATM transactions, including 1 out-of-network, and a cash advance of $400. What are her total fees for the month? MBA, Section 4 -6, Slide 6 of 13

SECTION 4 -6 Figure 4. 14 MBA, Section 4 -6, Slide 7 of 13

SECTION 4 -6 Example 1 Answer Step: Add the fees. Basic Charge + Bill Payments + Statement + ATM Surcharge + Cash Advance Fee $6. 95 + $0. 50 (7 -5) + $4. 00 + $3. 00 + (2% × $400) $6. 95 + $1. 00 + $4. 00 + $3. 00 + $8. 00 = $22. 95 MBA, Section 4 -6, Slide 8 of 13

SECTION 4 -6 Practice 1 Use Tiwana Gombash’s online banking plan above to calculate the fees. Service: Basic charge, 11 bills paid, printed statement, International wire transfer. ATM: 2 regional, 1 national, $700 cash advance online banking fee? MBA, Section 4 -6, Slide 9 of 13

SECTION 4 -6 Practice 1 Answer $47. 95 MBA, Section 4 -6, Slide 10 of 13

SECTION 4 -6 Practice 2 Use Tiwana Gombash’s online banking plan above to calculate the fees. Service: Basic charge, 18 bills, 1 overdraft. ATM: 4 national, 2 out of network, cash advance of $200. MBA, Section 4 -6, Slide 11 of 13

SECTION 4 -6 Practice 2 Answer $56. 45 MBA, Section 4 -6, Slide 12 of 13

END OF SECTION 4 -6 Online Banking