Checking

1. HOW CHECKING WORKS
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. A CHECKING ACCOUNT IS MOST PEOPLE’S FIRST
EXPOSURE TO THE FINANCIAL WORLD.
WHAT QUESTIONS DO YOU HAVE ABOUT CHECKING
ACCOUNTS OR WHAT WOULD YOU LIKE TO LEARN
ABOUT THEM?
Essential Questions:
How does a checking account work?
Understand the variety of ways to deposit and withdraw funds from
a checking account.
Describe the consequences of not being in the banking system.
Why should I have a checking account?
How do I read my bank statement?
Understand what the various components of a bank statement mean
to interpret where you money goes.

3. HOW DO BANKS WORK?
What is the purpose of a
Bank?
What is a Savings Account?
What is a Checking
Account?
What is a Loan?

4. LIST SOME WAYS TO GET MONEY OUT OF
YOUR CHECKING ACCOUNT.
LIST SOME WAYS TO GET MONEY INTO
YOUR CHECKING ACCOUNT.
AS A YOUNG PERSON, WHY IS IT
IMPORTANT TO HAVE A FREE CHECKING
ACCOUNT, IF POSSIBLE?
Read the first few paragraphs of this
article, up through the section titled
“Free Checking Accounts -- and How
to Qualify for One.” Then, answer:

5. Click on the white box
to read the article
SKIM THE 10 REASONS IN THIS ARTICLE ABOVE AND
THEIR DESCRIPTION
WHICH 4 REASONS TO OPEN AN ACCOUNT WOULD
BENEFIT YOU, PERSONALLY, THE MOST?
WHAT DO YOU THINK IT MEANS THAT YOUR MONEY
IS FDIC/NCUA INSURED: UP TO $250,000?

6. Digital Banks
Mobile
Banking
Online
Banking
Brick &
Mortar

7. WHAT TWO METHODS
OF DEPOSITING AND
WITHDRAWING MONEY
ARE MOST
CONVENIENT FOR
YOU? WHY?

8. HOW DOES A PRE-PAID CARD
COMPARE TO A DEBIT CARD?

9. TOP TIPS ON CHECKING
YOUR BANK STATEMENT

10. THE FINE PRINT
EXPLORE A BANK
STATEMENT IN DETAIL
ANSWER THE
QUESTIONS USING THE
BANK STATEMENT

11. SPENT: LOOKING FOR
CHANGE
You may be wondering, “What are some of
the disadvantages if you do NOT have a
checking account?”
Watch this short segment (9:08-12:47) of a
much longer documentary to learn what some
of the challenges are.
Then, answer the question below.
What are some of the disadvantages of being
locked out of, or choosing not to belong to,
the traditional banking system?

12. EXIT TICKET