Checking Account Fees

Learning Goals/Objectives:

The student will define a checking account as a ‘demand deposit’ on a written assessment later in the week.
The student will demonstrate an understanding that banks offer different checking services and fees associated with some of them by responding to written assessment questions that go along with the ‘Fee & Checking account packet’ entitled ‘Checking Account Fees’
The student will be able to list four advantages of a checking account on a written assessment later in the week.

Grouping of Students:

Individual

Methods:

Silent Reading (Visual)
Classroom Discussion
Direct Instruction (Auditory)
Learning by Doing (Tactile)

Activities:

“Hook” – A good friend of mine is a branch manager of a 5/3 in Columbus. The Columbus branches profited $20 million last in overdraft charges alone! Today we are going to learn about other fees associated with a checking account.

a. Silent Reading – 10 minutes

Fee and Checking Account Packet

b. Classroom Discussion – 10 minutes

What is a ‘Stop Payment’? (When you write a check and decide not to follow through)
What is an ‘Overdraft’? – and what did 5/3 charge?
What is a ‘Non-Fifth Third ATM Transaction and how much is it? ($1.50)
Why would someone want a ‘Platinum One Account’ over a ‘Totally Free Checking Account’ (earning interest on money in your checking account if the balance is kept over $2,500)
What would be one benefit of an ‘E53’ Account (banking online)
Which service would be best for you at your age and why? (‘Totally Free Checking’)

c. Learning by Doing – 15 minutes

Distribute ‘Checking Account Fees’ and have the students respond - - review the answers.

d. Direct Instruction – 10 minutes

Advantages of a checking account (Convenient ways to pay bills; Safer then cash - - especially with major purchases and purchases made through the mail; built in record keeping that tracks expenses; gives you access to other services such as online banking and ATM’s)

Assessment:

Informal