Electronic Banking Lesson Plan

1.7.2b. Fast transactions – Sara was able to stop quickly and withdraw moneyfrom the automated teller machine to meet her friends on time thatafternoon.c. Convenience – Sara was able to stop at an automated teller machine on theway to the mall.d. Slide 4: Debit Cardsi. Ask participants to discuss when Sara’s debit card was used.1. Answers could include:a. When Sara loaned her debit card to Nick so he could borrow money fromher.b. When Sara stopped at the automated teller machine on the way to the mallto withdraw money.i. Discuss with participants why Sara may not have received anaccurate balance at the automated teller machine when shewithdrew money with her debit card.1. A debit card transaction may take more then one businessday to clear. For example: if Sara made a purchase onFriday evening when she went to the automated tellermachine, on Saturday afternoon that transaction may nothave cleared her account giving her the impression she hasmore money available than she really does.c. When Sara called the cell phone company to pay her bill over the phone.e. Slide 5: Personal Identification Numbersi. Ask participants to discuss when Sara used her PIN.1. Answers should include:a. Sara gave Nick her PIN so he could access her account.b. Sara used her PIN when she stopped at the ATM on the way to the mall.f. Slide 6: Consumer Liabilityi. Ask participants to discuss what situation Sara allowed to occur that could have put herfinancial information in danger.1. Answers could include:a. When Sara loaned her debit card and personal identification number to afriend. If he would have lost the information, her information could havebeen given to someone who was not authorized to access her account.b. When Sara decided to call the cell phone company in a busy mall, givingher information over the phone to pay for her bill.g. Slide 7-8: Automated Teller Machinesi. Ask participants to identify when the Sara’s account was accessed through an ATM.1. Answers could include:a. When Nick used her debit card at the ATM the night before.i. Discuss with participants that Nick used it at an ATM because hewould not have to sign anything for the transaction to occur.b. Sara used her debit card at the ATM on the way to the mall to meet herfriends.c. Sara withdrew money from her checking account.d. Sara confirmed her paycheck was deposited from the day before.h. Slide 9: Point of Sale Terminali. Discuss with participants that at a point of sale terminal, a signature may be required.© Family Economics & Financial Education – Revised March 2008 – Financial Institutions Unit – Electronic Banking – Page 4Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona