May 20, 2024
Providence House continues to build our resident’s Workforce Development skills. This week, we will learn skills for banking. Staff uses this language in interactions with residents all week long.
Topic: Banking
Types of Accounts and Services
Banks offer safe places to save and manage your money. Most banks offer several types of accounts. In a savings account, you can save for future expenses. Many savings accounts pay interest, which helps your money grow.
Banks also offer checking accounts. You deposit money that you use for paying bills. There are several ways to withdraw the money. You can write checks or use a debit card in stores. You can get cash from an ATM or a teller inside your bank.
Most banks offer other services, too. For example, you can get money orders, loans, and safe deposit boxes for storing valuable items.
Choosing an Account
Banks often charge fees, so it’s important to choose the right bank and the right account.
Here are a few things to think about:
• Is there a minimum amount you must deposit to open an account?
• Does the bank charge a monthly fee for an account?
• How much does the bank charge if you bounce a check?
• Will you earn interest on your balance?
• Does the bank charge you for writing checks or using an ATM?
Online Banking
Today you can do a lot of banking online. In fact, some banks don’t even have branches. With online banking, you can view your account balance and statements and keep track of your money. Many banks offer an online bill pay service, too. To pay bills online, you enter your payment information, and the bank pays the bill electronically. You don’t need to worry about writing and mailing a check.
With direct deposit, you don’t need to take your paycheck to the bank. It is deposited in your bank account automatically. Your money is available right away.
Questions about the Workforce Development program at Providence House? Contact Dr. Whittney Polley, Director of Education at 318-221-7887 or wpolley@theprovidencehouse.com.