7.02 evaluate ways that commercial banks can assist consumers with money management. principles of...
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7.02 Evaluate ways that commercial banks can assist consumers with money management.
Principles of Business 2006
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Commercial Bank ServicesCommercial Bank Services
For Money ManagementAccepting Deposits
Safe way to save for the future
Money earns interest
Less temptation to spend money
For Money ManagementAccepting Deposits
Safe way to save for the future
Money earns interest
Less temptation to spend money
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Transferring Funds (EFT) Transferring Funds (EFT)•Automatic payments
Helps in budgeting Helps with bill paying
•Automatic transfer Systematic savings habit
(Transfer to savings account) Savings transferred to checking when needed Automatic deposit Paychecks deposited into checking account ATM
Commercial Bank ServicesCommercial Bank Services
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Debit card (or payment with ATM card) Purchases made without cash Home banking Inquiries Assistance with accounts Use computer in bill paying
Debit card (or payment with ATM card) Purchases made without cash Home banking Inquiries Assistance with accounts Use computer in bill paying
Commercial Bank ServicesCommercial Bank Services
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Lending MoneyLending Money
Loans for major purchases (Home, automobile, college) Bank credit card
Loans for major purchases (Home, automobile, college) Bank credit card
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Storing ValuablesStoring Valuables
Offer safe-deposit boxes Boxes are located in well-guarded
vaults Used to store items and
documents of value: Jewelry Bond/stock certificates Birth records Wills, and insurance policies
Offer safe-deposit boxes Boxes are located in well-guarded
vaults Used to store items and
documents of value: Jewelry Bond/stock certificates Birth records Wills, and insurance policies
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Providing Financial AdviceProviding Financial Advice
Investment services Manage money more efficiently Advice on investments
Investment services Manage money more efficiently Advice on investments
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Trust ManagementTrust Management
Managing investments on behalf of the young and elderly
Managing investments on behalf of the young and elderly