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Bank service

Bank service. Jing Zhang Jiachen Zhuang. Why you need a bank?. Definition Purposes of banks Safety of financial institutions Banks as money management tools The earned income tax credit. Basic Bank Service. Checking account Saving account Certificate of deposit Safety deposit

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Bank service

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  1. Bank service Jing Zhang Jiachen Zhuang

  2. Why you need a bank? • Definition • Purposes of banks • Safety of financial institutions • Banks as money management tools • The earned income tax credit

  3. Basic Bank Service • Checking account • Saving account • Certificate of deposit • Safety deposit • Bank card • Credit card • youth

  4. Checking account • Primary purpose: paying bills and making purchase • Different types: free, basic,express,interest-bearing and others

  5. Saving account • Main function: save money for the future • Risk-free investment • Different types offer a variety of interest rates

  6. Certificate of Deposit • Long-term bank account • Higher interest rate • Run from months to years • The length of CD affects the interest rate

  7. Safety Deposit • Offered as a secure storage option • A variety of sizes are available to store items • Accessible during bank lobby hours

  8. Bank Card • Make life much easier • Daily banking becomes much faster and more convenient

  9. Credit Card • Withdrawing money for your account immediately • A safe and secure way to handle money by efficiently manage

  10. Youth • For youth who wants to get into banking early • Bank will help youngers deal with bank service

  11. Online Banking Service • What is online banking? • Understand online banking services Getting set up for online bill pay Set your schedule Security

  12. Advantages of online banking • Convenience • Ubiquity • Transaction speed • Efficiency • Effectiveness

  13. Disadvantages of online banking • Start-up may take time • Learning curve • Bank site changes • The trust thing

  14. Industry dominated by “Big 6” • Royal Bank of Canada • Bank of Canada • Canada Imperial Bank of Commerce • National Bank of Canada • Scotia Bank • Toronto-Dominion Bank

  15. Personal Financial Services of RBC • Everyday Banking • Borrowing & Credit • Investments • Insurance

  16. Everyday Banking • Banking & Saving Accounts • Student Banking • Online Banking • Other Ways to Bank

  17. Borrowing & Credit • Credit Cards • Mortgages • Loans & Lines of Credit • Home Equity Loans

  18. Investments • RRSPs and TFSAs • Mutual Funds and GICs • RESPs • Wealth Management • Other Investment Services

  19. Insurance • Travel Insurance • Mortgage & Loan Insurance

  20. Thank you for listening Any Questions?

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