The document discusses common banking fees such as ATM fees, overdraft fees, and provides tips to avoid fees. It notes that the average fee to take out money from a non-network ATM includes both the user's bank fee and the ATM owner's fee. It also discusses overdraft fees, how banks make billions each year from overdraft fees, and provides a tip about setting account alerts to avoid fees. Finally, it mentions peer-to-peer payments between individuals and some risks associated with sending money between parties.
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Banking fees & P2P Payments
1. BEWARE OF BANKING
FEES
• Standard – Planning and Money
Management
• Learning Objectives
• Students will be able to
• Compare and contrast services and
products available from financial providers
such as commercial banks, savings and
loans, and credit unions.
2. WHAT IS THE AVERAGE FEE
TO TAKE MONEY OUT OF A
NON-NETWORK ATM?
THIS CHARGE INCLUDES:
YOUR BANK’S FEE,
FEE CHARGED BY ATM
OWNER
• Essential Questions:
• What are some common banking fees,
including the overdraft fee?
• What can I do to avoid being charged fees
on my account?
• How do banks differ on their fees and
policies?
3. BANK OVERDRAFT FEES
(VIDEO)
Banks are raking in billions of dollars a
year charging customers for overdrafts.
Here's how to protect yourself.
What is misleading about the term
“overdraft protection”?
True or False
Once you are signed up for overdraft
protection, cannot opt out.
What else did Sharon do to avoid future
overdraft fees?
4. Read this article to find out what
kinds of alerts you can set up so you
can avoid fees as well. Then, play
the matching game.
7. PEER-2-PEER
PAYMENTS
Transfer of funds between
• Two parties using their individual banking
accounts
• Credit cards through a website or mobile
app
• Ease-of-use
• Convenience
• Speed
Risks
Send money to the wrong user or you risk
Victim of a scam or data breach
