YOU NEED TO USE THE GOOGLE SLIDES ON BANK ACCOUNTS AND DEBIT CARDS TO COMPLETE - THEY ARE IN BRIGHTSPACE /51 - - By the end of this Google Slides Search I will be able to identify different types of banks, and bank accounts I will be able to identify differences between different banks in Canada I will be able to better understand key definitions of financial literacy Make your own copy. Follow the steps to answer the questions - once complete submit it onto Brightspace → Assignments → Bank Accounts & Debit Cards: Google Slides Search. 1. What are 3 things you should consider when choosing a bank account? 3 marks→ Slide 2 · FEES · LOCATION TO YOU · INTEREST RATES 2. What are the big 6 banks in Canada?6 marks → Slide 3 · RBC · SCOTIABANK · NATIONAL BANK OF CANADA · CIBC · TD CANADA TRUST · BANK OF MONTEAL 3. What is so special about a chequing account? 2 marks You can withdraw money from a checking account at any moment without incurring fees. You may do your shopping, pay your bills, and have your paycheck automatically deposited into your account. typically pay little to no interest on deposits 4. How much can you deposit for it to be protected by CDIC Insurance. 1 mark Any amount up to 100,000 can be deposit and be protected by CDIC insurance YOU NEED TO USE THE GOOGLE SLIDES ON BANK ACCOUNTS AND DEBIT CARDS TO COMPLETE - THEY ARE IN BRIGHTSPACE /51 5. What is CDIC insurance? 2 marks CDIC is the Canadian deposit insurance corporation it provides insurance to depositors in Canadian banks and savings institutions. Incase of bank failure 6. Follow the website link on slide 5 and complete the chart below: 12 marks Bank Type of Organization Credit Union PRIVATE CORPORATION NON FOR PROFIT SHARE HOLDERS MEMBERS NONE BUY A SHARE AND SOME MINOR REQUIERMENTS Savings Account Interest Rate LOWER HIGHER Credit Product Selection WIDER NARROWER HIGHER LOWER Responsibility To Applicant Requirements Account Fees Write a Cheque 7. On slide 8 go to the website linked on how to write a cheque. Take a screenshot after you complete the cheque; and add the photo into this document for assessment. 1 mark for the screen shot + 6 marks for correct info inputted into check = 7 marks The website is offline � YOU NEED TO USE THE GOOGLE SLIDES ON BANK ACCOUNTS AND DEBIT CARDS TO COMPLETE - THEY ARE IN BRIGHTSPACE /51 Glossary Terms 8. From slide 10-13 pick 4 definitions and define them below. 8 marks Term Definition INTREST RATE Is the amount the lender charges the barrower and is a percentage of the amount loaned WITHDRAW Is to take money out of your account OVERDRAFT You have taken out more money then available in your account NFS Non-sufficient funds in your account for the transaction Where should I open a Bank Account?Use Slide 15-17 to follow the steps. On slide 17 you will see the following instructions: 1. Using the search results from the exercise in the 2 previous slides, 9 marks a. choose ONE account from ONE of Canada’s Big 6 Banks and click “view details”. Record the information in the table below b. Choose ONE account from ANY other bank and follow the same steps c. Choose ONE Credit Union and follow the same steps A) First account choice Type of bank account/plan: Basic bank account Name of Bank: Scotiabank YOU NEED TO USE THE GOOGLE SLIDES ON BANK ACCOUNTS AND DEBIT CARDS TO COMPLETE - THEY ARE IN BRIGHTSPACE /51 Important Information: 3.95 monthly fee with 12 transactions B) Second account choice Type of bank account/plan: Chequing student plan Name of Bank: Alterna bank Important Information: 0 monthly fees Unlimited transactions C) Credit Union Type of bank account/plan: Go free checking account Name of Bank: Libro credit union Important Information: Unlimited transactions 0 fees