The Essential Checking Account

2020.09.23 9:31 am - 10:14 am

Teaching point: What is a checking account and why is it important to have one?

Do now - Discussion Prompts

Answer the following in your notebook

1) Do you have a checking account? Why or why not?

2) What do you think are some advantages and disadvantages of having a checking account?

Agenda

Do Now (5-10 Minutes)

Mini-Lesson (15 Minutes)

Classwork (15 Minutes)

Closure/Homework (5 Minutes)

Mini- Lesson (15 Minutes)

Watch a Series of videos to meet the following learning objectives.

  • Explain what a checking account is used for and why it is important to have one

  • Understand the variety of ways they can deposit and withdraw funds from their checking account

  • Describe the consequences of not being in the banking system

Why Should we use a Bank?

Watch Full Video

Disadvantages of not having a checking account

Watch from 9:08 - 12:47

How does a checking account work?

Watch Full Video

Ways to Deposit Money INTO Your Account [called a credit]:

  1. At a bank branch

  2. Through an ATM

  3. Direct deposit from your employer

  4. Electronic transfer in from another account

  5. Mobile app deposit

  6. 3rd party app (ex: person-to-person payment)


Ways to Withdraw Money FROM Your Account [called a debit]:

  1. At a bank branch

  2. Through an ATM

  3. Use debit card to make a purchase in-person/online

  4. Write a check

  5. Electronic transfer out to another account

  6. Online bill pay

  7. Mobile app withdrawal/payment

  8. 3rd party app (ex: person-to-person payment)

Classwork (15 Minutes)

Complete the classwork in Google Classroom. Click here to access the link. If you would like to work in a group please let me know and I can set that up for you.

Wrap-Up (5 Minutes)

Classwork Review and Questions