9 10 online banking access to your accounts to check

Info icon This preview shows pages 9–19. Sign up to view the full content.

View Full Document Right Arrow Icon
9
Image of page 9

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
10
Image of page 10
Online Banking Access to your accounts to: check balances, transfer funds, paying bills, and view your financial information through the internet, a mobile phone, or other electronic device. Allows you to choose an internet-only bank. 11
Image of page 11

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
12
Image of page 12
What to Look For in a Financial Institution Which financial institution offers the kind of services you want and need? Is your investment safe? Is your investment insured? Is the financial institution sound? What are all the costs and returns associated with the services you want? Are there minimum deposit requirements or hidden fees? 13
Image of page 13

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Cash Management Alternatives Checking Accounts Advantages: Liquid, Safe, Low minimum balance, Convenient Non-interest bearing—demand deposits Interest bearing—NOW accounts Disadvantages: minimum balance required, monthly fee, opportunity cost, interest less than alternatives 14
Image of page 14
Cash Management Alternatives Savings Accounts Advantages: Liquid Safe—federally insured Earns higher interest than a Checking Account Disadvantages Minimum holding time Charges/fees Low interest rate inconvenient 15
Image of page 15

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Cash Management Alternatives Money Market Deposit Account (MMDA) —alternative to savings account, variable interest rates, check and ATM access. Advantages: Safe, Earns interest, Check writing privileges Disadvantages: High minimum balances/penalties, interest rates below alternatives 16
Image of page 16
Cash Management Alternatives Certificates of Deposit (CD) —pays a fixed rate of interest while funds are on deposit for a period of time (30 days to years). Advantages: Safe, fixed interest rate, convenient. Disadvantages: Early withdrawal penalty, fixed interest rate, minimum deposit required. 17
Image of page 17

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Cash Management Alternatives Money Market Mutual Funds (MMMF’s) —investors receive interest on a pool of investments less an administrative (usually less than 1% of total investment) Advantages: High interest rates, check writing, limited risk, convenient.
Image of page 18
Image of page 19
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern