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Evelyn Silva - Online and Mobile Banking Student Activity Packet

The document is a student activity packet focused on online and mobile banking, outlining learning objectives such as understanding the advantages of online banking, online bill pay, direct deposit, and banking safety. It includes articles, questions, and activities to engage students in exploring these topics, as well as discussions on the implications of a cashless society. Vocabulary and resources are provided for further learning.

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evelyn.s222
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123 views4 pages

Evelyn Silva - Online and Mobile Banking Student Activity Packet

The document is a student activity packet focused on online and mobile banking, outlining learning objectives such as understanding the advantages of online banking, online bill pay, direct deposit, and banking safety. It includes articles, questions, and activities to engage students in exploring these topics, as well as discussions on the implications of a cashless society. Vocabulary and resources are provided for further learning.

Uploaded by

evelyn.s222
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Online and Mobile Banking

Student Activity Packet


UNIT: BANKING

Name:

Students will be able to:


●​ List the advantages of online and mobile banking versus traditional banking
●​ Explain what online bill pay is and how recurring payments work
●​ Enumerate the benefits of direct deposit for their paychecks
●​ Explain how to bank safely online
●​ Explore the pros and cons of a cashless society

NOTE: Vocabulary for this unit can be found in the NGPF Personal Finance Dictionary

INTRO

DATA CRUNCH: How Do Consumers Use Mobile Banking?


Analyze the image on the worksheet to answer the questions on this Data Crunch.

LEARN IT

ARTICLE: The Advantages of Personal Internet Banking


Mobile banking uses smart phone apps to interact with your bank accounts. Online banking is a
more broad category that includes any device that is connected to the internet. Being able to
conduct transactions online and on our phones has reduced the need for people to go to banks in
person and do things on paper. Read the Advantages section of the article to learn more about
the benefits of online banking. Then, answer the questions.

1.​ The article listed 7 major advantages of online banking. Choose 2 and, in your own
words, explain how they can make banking easier or more convenient.
​ 24/7 Access – You can check your balance, transfer money, and pay bills anytime,
without having to wait for the bank to open.
Easy Fund Transfers – You can quickly send money between accounts or to other people
without visiting a branch.
Do you already conduct

2.​ Do you already conduct your banking online or through your phone? If yes, which of
these advantages do you find helpful? If not, which of these do you think you would

www.ngpf.org​ ​ ​ ​ Last updated: 12/27/23


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find to be the most helpful? Why?
The most helpful feature would be bill pay because it makes paying rent and utilities
easier.

ARTICLE: Online Bill Pay: What It Is and Why to Use It ​


In the Data Crunch, you saw that many people are utilizing online and mobile banking with their
checking accounts. They love the convenience and time-saving features of online banking,
including the ability to pay their bills online. Skim this article to learn more. Then, answer the
questions.

1.​ What might be the benefit of setting up a recurring payment through online bill pay?
It ensures bills are paid on time automatically, avoiding late fees.
​

2.​ Picture yourself moving out on your own or maybe with a roommate, working your
first full-time job. List at least four people or companies you might want to pay
regularly by using online bill pay.
Landlord (rent)
Electric company (utilities)
Internet provider (Wi-Fi)
Phone company (cell phone bill)

VIDEO: What is Direct Deposit?​ ​ ​


Another feature online banking offers is Direct Deposit, which is now the most common form of
payment for work. Watch this video to learn what some of the benefits of direct deposit are. Then,
answer the following questions.

1.​ In your own words, explain what direct deposit is.


Direct deposit is when your paycheck is automatically sent to your bank account instead of
receiving a paper check.

2.​ What information will you need to provide to your employer to set up direct deposit?

Bank name
Account number

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Routing number

3.​ What are the benefits of using direct deposit?

No need to deposit paper checks


Faster access to money
More secure than carrying cash or checks

DO IT
​
ACTIVITY: INTERACTIVE: Online Bank Simulator​
Now that we’ve explored the most important aspects of banking, let’s try using an online bank.
Follow the directions on the worksheet to complete this activity.

LEARN IT

ARTICLE: Is Online Banking Safe? How to Boost Your Banking Security


With many transactions like payments and direct deposits happening online, you might be
concerned about the safety of your money. Read the article to learn about ways that you can
improve your online banking security and protect your money. Then, answer the questions.

1.​ Why is it recommended that you avoid doing online banking on public Wi-Fi?
Public Wi-Fi is not secure, and hackers can steal your banking information.

2.​ How can turning on text and email alerts help keep your account safe?
Alerts notify you of suspicious activity, so you can act quickly if someone tries to access your
account.

​
ARTICLE: The Pros and Cons of Moving to a Cashless Society
Another major change is a move towards a cashless society. Being cashless offers many
conveniences, but it’s not without its downsides. Read the article up to “What Does a Cashless

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Society Look Like?” Then, answer the questions.

1.​ In your own words, what is a cashless society?


A society where all financial transactions are done electronically, without using physical
cash

2.​ How does a cashless society affect your privacy?


Every transaction is recorded, making it harder to keep financial information private.

3.​ How does a cashless society affect the economically disadvantaged?

People without bank accounts may struggle to make payments or receive money.

4.​ How might a cashless society negatively impact someone who is unbanked or
underbanked?

They may not have access to digital payment methods, making it difficult to buy goods or
pay bills

EXIT TICKET

Follow your teacher’s directions to complete the Exit Ticket.

www.ngpf.org​ ​ ​ ​ Last updated: 12/27/23


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