Electronic Banking Lesson Plan

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1.7.2.L1Note taking guideAutomated TellerMachines allow thesetransactions to occur…Point of Sale Terminal -Direct Deposit—Direct Payment—Payroll Cards-Check Clearing for the 21st Century Act(Check 21) -Pay by Phone System -Float Time -© Family Economics & Financial Education – Revised March 2008 – Financial Institutions Unit – Electronic Banking – Page 8Funded 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.A1WorksheetElectronic BankingTotal Points Earned22 Total Points PossiblePercentageName_________________Date_________________Class_________________Directions: Match the following terms with the statements below. Each question is worth 1 point.1.____ A plastic card that looks like a credit card but iselectronically connected to the card holder’s depository institution.2.____ Allows a person to write a check even though there isnot enough money in the account in hopes of depositing theA. Float Timemoney before the check is processed.B. Pay By Phone SystemC. Direct Deposit3. ____ Personal identification number required for D. Debit Carddebit cards to be used.E. Direct PaymentF. PIN4.____ This allows the consumer to call a company withG. Point of Saleinstructions to pay certain bills or electronically transferTerminalfunds between accounts.5.____ Allows paychecks and benefit checks to be directlydeposited into a specified depository institution account.6.____ Authorize bills to be paid by a specific depository institution account.7.____ An electronic computer terminal located at the checkoutof a store, allowing the consumer to use their debit cardto make purchases.Directions: Circle True or False for the following statements. Each question is worth 1 point.8. T or F ATMs can only be found at the depository institution locations9. T or F E-banking allows individuals to deposit money, withdraw money, and pay bills.10. T or F A drawback to Electronic Banking is that it may only be done using the World Wide Web.11. T or F A payroll card is an alternative for employee’s paychecks to be deposited.12. T or F When a customer uses a POS, they may request the cashier to give them cash back.© Family Economics & Financial Education – Revised March 2008 – Financial Institutions Unit – Electronic Banking – Page 9Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
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Electronic Banking Lesson Plan

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