Back to: BUSINESS STUDIES JSS2
Welcome to today’s class!!
We are thrilled to have you in our class!!
In today’s Business Studies class, we will be learning about Bank Services
Bank Services
A bank is a place where people can keep their money safe and manage it easily. Think of a bank as a piggy bank, but much bigger and smarter! When you put your money in a bank, it’s called a deposit. You can also take money out when you need it, which is called a withdrawal.
Banks offer several services that help us in our daily lives:
- Saving Money: Just like saving up your allowance or other monetary gifts in a jar, you can save your money in a bank account. The bank even gives you a little extra money, called interest, for keeping your money with them.
- Checking Accounts: This is like having a digital wallet. You can put your money in a checking account and use it to pay for things directly using a debit card or checks, just like how you might use cash to buy a snack at the store.
- Loans: Sometimes, people need to borrow money to buy something big, like a car or a house. Banks lend people money, which they promise to pay back later with a little extra, called interest.
- Online Banking: Just like playing games or chatting with friends online, you can manage your bank account through your computer or phone. This makes it easy to check your balance, transfer money, or pay bills anytime, anywhere.
In summary, banks help us keep our money safe, make payments, and even borrow money when we need it—all with just a few clicks or a visit to a branch!
Evaluation
What is a Bank?
Reading Assignment
Mention three services offered in a bank.
Weekend Assignment
What does online banking help you do?
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