Title: (Optional) Identify basic banking services.
Course: Principles of Business and Marketing (12051-36) > Section: Making Sound Business Decisions

Identification of basic banking services should include

- managing depositor accounts (e.g., checking, savings, credit card)
- accepting deposits
- handling withdrawals
- offering convenient alternatives to checking (e.g., automated teller machine [ATM], electronic funds transfer [EFT], debit card)
- lending money
- storing valuables
- providing access to financial advice
- providing access to investment services
- providing depositor protection (e.g., Federal Deposit Insurance Corporation [FDIC], National Credit Union Administration [NCUA], Federal Reserve System).

Process/Skill Questions:

- Why should individuals use financial institutions?
- Why should businesses use financial institutions?
- What services do both banks and credit unions offer? Why might a customer choose one over the other?
- What are advantages of a safety deposit box?
- How do banks make a profit?
- What role does FDIC play in daily banking?
- What are benefits of paying with a debit card or check rather than a credit card? When is it more beneficial to pay with a credit card?