Documenti di Didattica
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G1
Electronic Banking
Family Economics & Financial Education Revised February 2008 Financial Institutions Unit Electronic Banking
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
1.7.2.G1
Electronic Banking
Family Economics & Financial Education Revised February 2008 Financial Institutions Unit Electronic Banking
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
1.7.2.G1
Electronic Banking
Family Economics & Financial Education Revised February 2008 Financial Institutions Unit Electronic Banking
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
1.7.2.G1
Debit Cards
Debit Cards are plastic cards, which look like credit cards,
but are electronically connected to a card holders
depository institution account.
Money is automatically withdrawn from the designated account
when a purchase is made.
Debit cards can be used when there is not enough money in
the account, which will result in a non- sufficient fund fee.
For added protection, sign the back of a debit card in the
signature box with see id.
This will prompt the vendor to match a picture id and name to
the individual using the debit card.
Family Economics & Financial Education Revised February 2008 Financial Institutions Unit Electronic Banking
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
1.7.2.G1
Family Economics & Financial Education Revised February 2008 Financial Institutions Unit Electronic Banking
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
1.7.2.G1
Consumer Liability
According to the Federal Trade Commission, a consumer is
held liable for any unauthorized charges under the
following conditions:
If timely notice is given of lost or theft to the depository
institution within two business days:
The consumer is held responsible for no more then $50.
If the institution is not notified within the first two business days,
but within the first 60 days:
The consumer is held liable for no more then $500.
If the institution is notified after the first 60 days:
The consumer is held liable for no more than the amount of the
unauthorized transfers.
Family Economics & Financial Education Revised February 2008 Financial Institutions Unit Electronic Banking
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
1.7.2.G1
Family Economics & Financial Education Revised February 2008 Financial Institutions Unit Electronic Banking
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
1.7.2.G1
ATMs continued
ATMs can be found at various places
Examples: depository institutions, supermarkets,
convenience stores.
ATMs are accessed with an ATM or debit card and a
PIN.
Fees may be charged for ATM use, but will vary
depending on the particular depository institution.
Family Economics & Financial Education Revised February 2008 Financial Institutions Unit Electronic Banking
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
1.7.2.G1
Family Economics & Financial Education Revised February 2008 Financial Institutions Unit Electronic Banking
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
1.7.2.G1
Direct Deposit
Direct Deposit
Paychecks and benefit checks are directly deposited into
a specified depository institution account.
The customer signs an authorization form with his
or her employer to authorize the electronic deposit.
Family Economics & Financial Education Revised February 2008 Financial Institutions Unit Electronic Banking
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
1.7.2.G1
Direct Payment
Direct Payment authorizes bills to be paid by a specific
depository institution account.
This can be done for fixed and flexible expenses. Examples
include:
Mortgages, vehicle payments, phone bill
The customer signs an authorization form to allow the
business to deduct funds from the account each billing
period.
Consumers are responsible for frequently checking their
account to ensure that the correct amount was withdrawn.
Family Economics & Financial Education Revised February 2008 Financial Institutions Unit Electronic Banking
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
1.7.2.G1
Payroll Cards
Family Economics & Financial Education Revised February 2008 Financial Institutions Unit Electronic Banking
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
1.7.2.G1
Check 21
Family Economics & Financial Education Revised February 2008 Financial Institutions Unit Electronic Banking
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
1.7.2.G1
Pay by Phone
Family Economics & Financial Education Revised February 2008 Financial Institutions Unit Electronic Banking
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
1.7.2.G1
Review
Family Economics & Financial Education Revised February 2008 Financial Institutions Unit Electronic Banking
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona