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Financial Services

Financial Services. This Chapter:. -Choosing an account. -Simple and Compound Interest. -Overdraft, Loans & Lines of Credit. Today. Choosing a Bank. Banking Habits. Choosing an account. Kinds of Accounts. -Prior to choosing an account you must choose a bank.

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Financial Services

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  1. Financial Services

  2. This Chapter: -Choosing an account -Simple and Compound Interest -Overdraft, Loans & Lines of Credit

  3. Today Choosing a Bank Banking Habits Choosing an account

  4. Kinds of Accounts -Prior to choosing an account you must choose a bank -How do you choose a bank?

  5. First You must know what is important to you with regards to what banks offer What DO banks offer????????

  6. Differing Account packages -Value Accounts -Self-Service Accounts -Full Service Accounts -Bonus Savings Accounts Things that Banks Offer

  7. -Varied Interest Rates -Varied Service Charges -Varied On-Line Banking abilities -Varied Phone Banking options -Location, location, locations Things that Banks Offer

  8. Now that you know what banks offer… You need to determine what kind of banker YOU are…

  9. What is important to you as a banker? Are you an on-line banker? Are you face-to-face banker? Are you a “over the phone” banker?

  10. What is important to you as a banker? How many transactions do you make a month? How often do you use ATMs?

  11. What is important to you as a banker? How many deposits do you make/month? How many withdrawals do you make/month?

  12. What is important to you as a banker? Will you carry a balance in your account? If so, what would be the min that you would maintain each month?

  13. All these questions must be answered prior to choosing a bank

  14. Now that you have chosen a BANK Determine what KIND of account you will require Savings or Chequing

  15. An Example of Available Savings Accounts offered by the TD Bank…

  16. When choosing an account -You must weigh account usage against account fees -Needs vs. Services against account fees

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