Lesson 6.4 Selecting a Bank February 28, 2011Copyright © 2008-2011 … REMTECH, inc … All Rights...

Lesson 6.4Selecting a Bank

February 28, 2011

Copyright © 2008-2011 … REMTECH, inc … All Rights Reserved 1

Introduction

Selecting the right bank is not as easy as it sounds because there are a lot of banks and they are all slightly different!

The right bank for you might not be the same bank that is right for your parents or friends!

They offer different services, charge different fees for their services and have different ideas of how the customer

should be treated!

The right bank for you meets your expectations, provides the services you need and charges you the least amount of

money!


February 28, 2011


Objectives

• Explain why selecting the right bank might not be easy

You should be able to do the following after completing this lesson

• List the primary ways banks compete for customers

• Review why you should shop around before selecting a bank

• Describe the common services banks provide

• Estimate how much you will spend for banking services each year

• Identify an important banking service that is overlooked by many

• Discuss the traits of a bank that would be right for you

• Define the important banking terms introduced in this lesson


February 28, 2011


6.4.1 – Competing For Customers

• What services are provided by most banks

• Why banks compete for customers

• Common ways that banks compete for customers

• Why much of the competition between banks revolves around interest, technology and location

In this section, you will learn:


February 28, 2011


6.4.2 – Shopping Around

• Why you should shop around before selecting a bank

• Why banks charge different fees for the same service

• Common services provided by banks today

• How much the average person pays for banking services each year

• About an important service that is frequently overlooked

• Service Fees Comparison Exercise


You will run the following Interactive Exercise


February 28, 2011


6.4.3 – Selecting a Bank

• Why you should use a 2-step process of selecting a bank

• What the important requirements a bank must have are

• Common traits the right bank for you will have


• What the overall objective of the bank selection process is


February 28, 2011


Discussion Questions

What does free checking actually mean to the customer in terms of money saved each year?

What is the ChexSystem network?

Lesson 6.4 Selecting a Bank February 28, 2011Copyright © 2008-2011 … REMTECH, inc … All Rights...

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Transcript of Lesson 6.4 Selecting a Bank February 28, 2011Copyright © 2008-2011 … REMTECH, inc … All Rights...