The Federal Reserve System is a system set up by the federal government to supervise and regulate member banks and help them serve the public efficiently. All national banks must join the FRS, and state banks may join. Banking systems are used to finance many aspects of life like homes, businesses, crops, education, goods, and infrastructure. Commercial banks offer a wide range of financial services like checking and savings accounts, loans, and other services. Electronic funds transfer refers to using computers and technology for banking activities like ATMs, direct deposit, and automatic bill payment.
1. Federal Reserve System is a
system set up by the federal
government to supervise and
regulate member banks and
to help banks serve the public
efficiently. All national banks
are required to join the FRS,
and state banks may join.
2. • The actions of the banking system affects
people in many ways.
Banking Systems are often used to
- Build Homes
- Start new businesses
- Plant Crops
- Finance educations
- Buy goods
- Pave streets
3. • Commercial Banks are
Credit union is a
often called full service
user-owned, not-
banks because they offer
for-profit,
a wide range of financial
services. Commercial cooperative
banks offer checking financial institution.
accounts, provide
savings accounts, make
loans to individuals and
to businesses, and offer
other services.
4. • RBC Bank
• The World Bank
• BB&T Corporation
• Cornerstone Bank
5. • Electronic funds transfer
(EFT) refers to the use of
computers and other
technology for banking
activities. Electronic
banking services include
the use of automated
teller machines (ATM),
point – of –sale
transactions, direct
deposit, and automatic
bill payment.
6. • Automatic bill payment requires a bank
customer to authorize preset amounts of
monthly expenses. The bank deducts the
payments from your account and transfers
them to the appropriate companies. With
automatic bill payments, be sure to check
each month that the correct amounts have
been deducted.
7. • Endorsement
• Check Register
• Bank Statement
• Bank