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PRESENTATION OUTLINE
1.
BANKING PROJECT
ANTHONY PARUSZKIEWICZ
2.
FLOAT TIME
WRITING A CHECK WITH NO MONEY IN THE ACCOUNT IN HOPES TO DEPOSIT ENOUGH MONEY INTO THE ACCOUNT BEFORE THE CHECK IS PROCESSED
3.
PAY BY PHONE SYSTEM
CALL A VENDOR WITH INSTRUCTIONS ON HOW TO PAY YOUR BILLS BY ELECTRONICALLY TRANSFERRING FUNDS BETWEEN ACCOUNTS
4.
DEBIT CARD
PLASTIC CARD LIKE A CREDIT CARD BUT IS ELECTRONICALLY CONNECTED TO THE CARDHOLDERS DEPOSITORY ACCOUNT FOR PURCHASES
5.
PIN
Security code that is required to access the cards depository account
6.
POINT OF SALE TERMINAL
Is at the store and allows the customer to make purchases with a card
7.
REOCCURRING PAYMENT
A set date that bills are paid money is deducted from an account it is the owner of the accounts responsibility to ensure there is enough money is in the account
8.
PRIVACY POLICY
Outlines how a consumers privacy will be used and protected
9.
REGULATION E
Covers all electronic transfers
10.
ONLINE BANKING
Allows consumers to complete transactions with their bank through a personal computer
11.
ONLINE PAYMENT
Allows consumers to send money from 1 account to vendors
12.
STOCK
Ownership represented by shares in a coorperation
13.
LOAN
Money borrowed and paid back with interest
14.
MORTGAGE
The charging of real property by a debtor to a creditor
15.
SAVINGS ACCOUNT
A bank account that earns interest
16.
INTEREST RATE
Portion of a loan that is charged as interest to the borrower
17.
CREDIT UNION
Non profit bank
18.
SAVINGS AND LOAN ASSOCIATIONS
FOCUSES ON PROVIDING LOAN SERVICES AND CHECKING AND SAVINGS ACCOUNTS TO CONSUMERS
19.
FDIC
Banking insurance guarantees the safety of up to 250k per depositor per bank
20.
NCUA
Agency created to regulate charter and supervise federal credit unions
21.
COMMERCIAL BANK
Banks that offer services to general public and companys
22.
ELECTRONIC BANKING
24/7 access to cash through an atm and direct deposit
23.
DEPOSITORY INSTITUTION
A association that is allowed to access monetary deposits from consumers
24.
ONLINE BANKING
Allows consumers to complete transactions with there bank from a personal computer
25.
BOUNCE A CHECK
When a check does not go through because there is no money in the account
26.
REGULATION E
Covers all electronic fund transfers
27.
INTEREST EARNING ACCOUNTS
Amount earned through interest in a bank account
28.
CHECKING ACCOUNTS
An account at a bank in which checks can be drawn from
29.
CHECK 21
Allows for digital checks to be used in place of the physical document
30.
BANKS PROFIT BY?
By using depositors money to make loans and earn interest
31.
UNSAFE BANKING PRACTICES
Banks that take part in unsafe practices will be shut down
32.
DIRECT DEPOSIT
To have pay checks directly deposited to an account rather than to handle the paper check yourself
33.
DIRECT PAYMENT
A system that allows consumers to pay bills over the internet with their banks
34.
INTEREST
A portion of a loan that is charged for income to the person/bank that loaned the money
35.
RISK OF LOSS
A term to determine which party is responsible for damage of goods which has not yet been delivered
36.
FEDERAL RESERVE BANK
The federal bank that loans and insures money for other banks
37.
Untitled Slide
Anthony Paruszkiewicz
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