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Security First Bank - Henrico County Public Schools

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					Security
 First
  Bank
     A
 Banking
 Customer
Simulation
   Types of Money

Currency




Coin
What is a bank?
Webster defines it as “an
establishment for the
custody, loan, exchange, or
issue of money, for the
extension of credit, and for
facilitating the
transmission of funds.”
A bank can be a traditional
community bank, a savings
and loan association, or a
credit union.
 Money Substitutes

Bank Check
A bank check is a bank
depositor’s written order
requiring the bank to pay a
certain amount to a specified
party on demand.
  Money Substitutes

Bank Draft
A bank draft is a check drawn on
one bank by another bank.
The principal uses of a bank draft
are to transfer funds from one bank
to another and to disburse money
as part of a loan.
 Money Substitutes

Traveler’s Check
A traveler’s check is a cash
substitute that is insured
against loss or theft.
Most common examples are
American Express and Visa
Travel Money
  Money Substitutes

Money Order
A money order is a check drawn on
an agency’s or bank’s own account
by an authorized officer of that
agency or bank.
Western Union and USPS and
examples of companies that
provide these services.
  Money Substitutes

Cashier’s Check
Sometimes called an officer’s
check – is drawn on a bank by one
of its own officers.
Example would be buying a car
thru a newspaper ad. They don’t
know you so they may ask for a
cashier's check.
 Money Substitutes

Bank Card
Many banks allow bank
customers to deposit, transfer,
or withdraw money
electronically by using an ATM
at a convenient location
outside the bank.
 Money Substitutes

Credit Card
Some banks issue credit cards
to qualifying customers, which
enable those customers to
charge purchases up to a
maximum amount set by the
bank.
  Money Substitutes

Bank Debit Card
You may pay for purchases from
cooperating businesses with this
card, and the transactions are
recorded directly to your bank
account if enough money is
available in the account.
Unlike the credit card, the use of a
debit card is not a loan.
        Security

Don’t give out your pin number
to anyone.
     Other services

Loans
Electronic Banking
Safe-deposit boxes
Financial Counseling
They will give you a tour of
their facility to show you all the
services that they can provide
you.
          Your Job

You are a single person who has
earned a high school diploma.
After studying computer science at
JSRCC, you are qualified to work
as a computer technician.
You are hired by Metro Computer
Consultants, located at 11708
Parkway Avenue, Dallas, Texas
75205-7205.
Your beginning salary is $2000 a
month.
You are paid twice monthly, one
half on the 1st of the month and the
other half on the 15th.
      Examples

Changing Percentages to
       Decimals

             .621
    62.1% = _____

            .0524
    5.24% = _____

    125% = _____
            1.25
       Activity 1
Practice changing these
    percentages to
       decimals:
85% = .85
9% = .09
.3% = .003
14.8% = .148
103%    = 1.03
25.75% = .2575
Multiplying and Rounding

       $    61.40
       x      .28
           49120
          12280
        $17.1920


       $17.1920
$17.19
        Activity 2

Practice rounding the
following numbers to
two decimal places:

.086    = .09
.493    = .49
.5646   = .56
.376    = .38
     Activity 2 cont.

  Multiply the following
     amounts by the
   percentages shown.
Locate the decimal points
and round the answers to
  two decimal places, if
       necessary:

$500.00 times 5% is $25.00
$650.00 times 10% is $65.00
$435.50 times 12% is $52.26
            Activity 3

Now figure what the deductions
will be from your monthly salary.
Your salary for one month: $2000.00
Deductions include:
Income tax:                $300.00
FICA tax:                  $160.00
Medical and dental plan $104.00
for one month
Total Deductions           $564.00

Your net pay will be:    $1436.00

You will receive $718.00 every pay
check.
You charge $1000 on your credit card
 with 20% interest rate and decide to
pay $200 and month. How much will
     be on your credit card after 2
              months?

  1st      1000 x .20 =     200

  Then     200 / 12 =       16.67

  At the end of month 1 you
  would have:
  1000 + 16.67 – 200 = 816.67

  Then month 2 you would have:
  816.67 + 13.61 – 200 = 630.28
              Activity 4
Figure the following simple-interest problems
What will the monthly payments be if you borrow
$800 for six months at 12% interest?

Step 1
Principal                            $800.00
x Interest rate                           .12
= Interest charge for 1 year          $ 96.00

Step 2
Interest charge for 1 year            $96.00
÷ 2 = Interest charge for 6 months    $48.00

Step 3
Principal                            $800.00
+ Interest charge for 6 months        $48.00
= Total bank loan                    $848.00

Step 4
Total bank loan                      $848.00
÷ 6 = Total payment for 1 month      $141.33
                                   Activity 5
  Now you have a good idea of how much money you can spend for each expense
  category during one month. At the end of this simulation, you can figure out what you
  actually spent, how well you followed your original plan, and whether this plan works
  for you.

                        Expense                              % Income Spent   % Times $2,000
Housing: apartment, condominium, or house;
                                                                  19%            $380.00
furnishings; upkeep
Loan payments: all installment loans (except car),
                                                                  8%             $160.00
department store charges, and credit card bills
Food: food purchased for home consumption and
                                                                  12%            $240.00
purchased meals and beverages
Entertainment: books, periodicals, sport supplies,
                                                                  5%             $100.00
television, and admission to spectator sports
Out-of-pocket expenses: club dues, postage, bank
                                                                  5%             $100.00
service charges, and all other miscellaneous expenses
Transportation: car expenses, repairs, gas, inspection,
                                                                  10%            $200.00
and license and other local public transportation
Clothing and personal care: clothing and accessories
(plus cleaning and upkeep), physicians, dentist, eye              5%             $100.00
care, other
Education: tuition, books, school expenses, and
                                                                  2%             $40.00
internet expenses
Utilities: electricity, gas, water, and telephones (both
                                                                  4%             $80.00
home and cell)
Gifts and contributions: personal and business gifts
                                                                  1%             $20.00
and church and other charitable contributions

Savings: all savings accounts and investments                     2%             $40.00

Insurance: hospitalization, dental, life insurance, and
                                                                  4%             $80.00
car insurance
Taxes: federal withholding and social security taxes              23%            $ 460.00
                                                     Total       100%           $2,000.00
SecurityFirstBank                               New Account
Dallas Texas
Date: Opened: October 7, 2007                 0075-0197-66
              ___________________ Account No. _______________
                   Individual                           1
Type AccountType: _____________ No. Signatures Req. __________
                  Your Name                        543-34-4857
Title of Account: ____________________ Soc. Sec.: ______________
                   8086 Fenton Ave., Apt. 12
Home Address: _____________________________________________
Dallas, Texas 75221-4255
___________________________________________________________
                 Same as above
Mailing Address: ___________________________________________
            (214) 555-3871
Home Phone: ________________                    (214) 786-4443
                                    Cell Phone _________________
                          Computer Technician
Business or Occupation: ____________________________________
          Metro Computer Consultants           ______________
Employer: ____________________________ Phone - (214) 555-7384

         11708 Parkway Avenue Dallas, TX 75205-7205
Address: __________________________________________________
ATM OR DEBIT CARD:     O
                       Y    N       INTERNET BANKING:   O
                                                        Y    N

         H3857293
D.L. No. ____________
                Suntrust Bank                      321-39-28
Previous Bank: ________________________ Acct. No. ____________

Bank Address: Richmond, Virginia
              ____________________________________ _________
            Reference Name                  (804) 555-1234
Reference: __________________________Phone:________________
            Reference Name                  (804) 555-5678
Reference: __________________________Phone:________________
                                              Balance of amount,
Amount of Deposit $198.60 Deposit Description Suntrust Bank
                  ________                    _______________
                             Register style
Type of Personalized Checks ________________________________
                 200                A                 Blue
No. of Checks ___________ Style ____________ Color ___________
          Blue                    101
Cover ___________ Starting No. ____________
                      Bank Check
                                        Payee: Party to whom
                                        you are paying money




     Godwin High School
     2101 Pump Road
     Richmond, VA 23233

                                                      April 19, 2006
               Coach Thomas                                  5,000,000

      Five Million and 00/100 ----------------------------

                                             Mr. Myers
                           Dallas
      SecurityFirstBank    Texas




Drawee: Party who pays              Drawer: Party who request
The money to the payee              Orders that payment be made
Selecting a Checking
      Account
Different Types of Checking
Accounts
– Individual
    This checking account is used by
    only one person.
– Joint
    This checking account is to be used
    by more than one person such as a
    husband and wife
– Business
    This checking account is used by a
    business and are signed by one or
    more employees.
– Partnership
    Is another type of business account
    signed by two or more partners.
         Signatures

Legal Signature
Shawn L.. Herkins
S.L.. Herkins Jr.
Shawn Herkins
Incorrectly Written:

Shawn L. Herkins
Mr. Shawn L. Herkins
   SecurityFirstBank
 Dallas Texas


            Signature Authorization Card
                                                January 30, 2012
                                         Date: _______________

                                                       0075-0197-66
                                          Account No: _______________
         Your Name will go here
 Name:______________________________________________
          8086 Fenton Ave., Apt. 12 Dallas, Texas
 Address:____________________________________________
  75221-4255               (214) 555-3871
 __________________Phone:____________________________
 Social Security No: 5 4 3             3 4       4 8 5 7
 Type of Account:         Individual
                             Joint
                             Business
                             Partnership

You are hereby authorized to recognize any* of the signatures subscribed here
In the payment of funds or the transaction of any business for this account. It
Is agreed that all transactions between the bank and the depositor shall be
governed by the contract printed on the reverse side of this card.
Authorized Signatures:

 Your Signature goes here
                             Deposit Slip
I have:
1. a $5.00 bill and 5 $1 bills
2. 5 quarters
3. A $125 check from Bob Smith
4. A $35 check from Beth Spivey
5. I also would like to get $50 cash


 Deposit Slip                                                     CURRENCY
                                                                                10 00
                                                        Cash
                                                                  COIN
     Coach Thomas                                                                1 25
                                                          LIST CHECKS SINGLY
 8086 Fenton Ave., Apt. 12
                                                          Bob Smith
  Dallas, TX 75221-4255                                                         125 00
                                                          Beth Spivey           35 00
      Wednesday, April 19, 2006
Date _________________________
                                                        TOTAL FROM OTHER SIDE
                                                                                 0 00
                                                                 TOTAL

  Coach H. W. Thomas
_______________________
ACKNOWLEDGE RECEIPT OF CASH RETURNED BY SIGNING ABOVE
                                                         LESS CASH RECEIVED
                                                                                171 25
                                                                                50 00
                                                               NET DEPOSIT
                                  Dallas                                        121 25
 SecurityFirstBank                Texas

:111001273 : 00750197 66
               Check Stub
BALANCE BROUGHT FORWARD           $100 00
DEPOSIT
    March 1, 2008                 $430 50
            DATE



                          Total   $530 50
No. 101
       March 7, 2008
DATE ________________________

    Texas Central
TO __________________________

Telephone Company
_____________________________

     Feb. telephone bill
FOR _________________________

Installation service
_____________________________

           AMOUNT THIS CHECK       $25 00
    ATM              BALANCE      $505 50
     3/7   OTHER DEDUCTIONS        $40 00
                                  $465 00
                    BALANCE
Regular Checkbook
                      Check Register
                                                                         BALANCE FORWARD


             PAYMENT ISSUED TO
ITEM
 NO.
       DAT
        E
             OR DESCRIPTION OF
                  DEPOSIT
                                   AMOUNT
                                 OF PAYMENT   
                                                   AMOUNT
                                                  OF DEPOSIT                  $557 93
                                                               Payment
                                                                  or

       5/2   To    Deposit                                     Deposit
                                                                              $286 75
             For                                  286 75       Balance
                                                                              $844 68
                                                               Payment
                   Rush Creek                                     or
             To    Apartments                                  Deposit        $525 00
106 5/3
             For    Rent         525 00                        Balance
                                                                              $319 68
                                                               Payment
                   Corner                                         or
                   Market                                      Deposit
             To
107 5/4
             For
                    Groceries      82 88                       Balance


                                                               Payment
                                                                  or
                                                               Deposit
             To


                                                               Balance
             For

                                                               Payment
                                                                  or
                                                               Deposit
             To


                                                               Balance
             For

                                                               Payment
                                                                  or
                                                               Deposit
             To


                                                               Balance
             For

				
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