2.6 Online and Mobile Banking

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ACTIVITY: INTERACTIVE: Online Bank Simulator:

ACTIVITY: Compare and Contrast

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2.6 Online and Mobile Banking

2.6 Online and Mobile Banking

Which 3 mobile banking features do consumers consider to be critical?

What percentage of consumers rated depositing checks as an “important” or “critical” feature?

Which feature is the least important to consumers? Why might that be the case?

Maha looks at this graph and says: “This survey shows that Americans really care about the security of their bank account” Do you agree or disagree with Maha’s conclusion? Explain your reasoning.

In your own words, how does one get set up to use online bill pay?

Picture yourself moving out living on your own or maybe with a roommate, and going to school or working your first full-time job. List four different people or companies you might want to pay using online bill pay.

In your own words, explain what direct deposit is.

What two pieces of information about your account do you need to provide to set up direct deposit?

Out of the benefits of direct deposit, which seems the MOST useful to you? Why?

Summarize how the P2P payment process typically works.

Which of NerdWallets safety recommendations do you think is MOST important for protecting your money when using P2P apps? Why?

If you’re not careful, it can become costly to use P2P payments. Name at least 3 ways you could LOSE money using person-to-person apps.

What is the difference between Apple Pay and Apple Pay Cash?

What prevents someone who randomly picks up your phone from sending money to themselves using a messenger-based payment?

Where is the Apple Pay Cash recipient’s money stored?

What else can a digital wallet be used for?

Do you think Apple will eventually meet their goal of becoming a replacement for a physical wallet? Why or why not?

What is the technology that allows these devices to work?

How do Samsung devices allow MORE access than the other two phone manufacturers?

If you’re at the grocery store, how is checking out with one of these mobile payment methods different from paying with a traditional credit card?

What does it mean to “authenticate” your payment? How do these payment systems authenticate?

Write 5 tips that are particularly relevant to a high school student and why.

Fill in the blanks: Direct deposit typically refers to your ___________ sending your _______ electronically to your bank account.employer, billsparents, allowancecredit card company, billsemployer, paycheck

Which person-to-person payment activity will likely result in your paying a fee?Linking P2P to your credit cardLinking P2P to your bank checking accountSending money to a P2P member who is not in your contact listReceiving money from another member of the P2P app

Which 3 mobile banking features do consumers consider to be critical?

What percentage of consumers rated depositing checks as an “important” or “critical” feature?

Which feature is the least important to consumers? Why might that be the case?

Maha looks at this graph and says: “This survey shows that Americans really care about the security of their bank account” Do you agree or disagree with Maha’s conclusion? Explain your reasoning.

How do you think this data would look if it only looked at how Gen Z uses mobile banking? Why?

In your own words, how does one get set up to use online bill pay?

Picture yourself moving out living on your own or maybe with a roommate, and going to school or working your first full-time job. List four different people or companies you might want to pay using online bill pay.

In your own words, explain what direct deposit is.

What two pieces of information about your account do you need to provide to set up direct deposit?

Out of the benefits of direct deposit, which seems the MOST useful to you? Why?

Summarize how the P2P payment process typically works.

Which of NerdWallets safety recommendations do you think is MOST important for protecting your money when using P2P apps? Why?

If you’re not careful, it can become costly to use P2P payments. Name at least 3 ways you could LOSE money using person-to-person apps.

What is the difference between Apple Pay and Apple Pay Cash?

What prevents someone who randomly picks up your phone from sending money to themselves using a messenger-based payment?

Where is the Apple Pay Cash recipient’s money stored?

What else can a digital wallet be used for?

Do you think Apple will eventually meet their goal of becoming a replacement for a physical wallet? Why or why not?

What is the technology that allows these devices to work?

How do Samsung devices allow MORE access than the other two phone manufacturers?

If you’re at the grocery store, how is checking out with one of these mobile payment methods different from paying with a traditional credit card?

What does it mean to “authenticate” your payment? How do these payment systems authenticate?

Write 5 tips that are particularly relevant to a high school student and why.

Fill in the blanks: Direct deposit typically refers to your ___________ sending your _______ electronically to your bank account.employer, billsparents, allowancecredit card company, billsemployer, paycheck

Which person-to-person payment activity will likely result in your paying a fee?Linking P2P to your credit cardLinking P2P to your bank checking accountSending money to a P2P member who is not in your contact listReceiving money from another member of the P2P app

How do you think this data would look if it only looked at how Gen Z uses mobile banking? Why?

Fill in the blanks: Direct deposit typically refers to your _____ sending your _ electronically to your bank account.
employer, bills
parents, allowance
credit card company, bills
employer, paycheck

Which person-to-person payment activity will likely result in your paying a fee?
Linking P2P to your credit card
Linking P2P to your bank checking account
Sending money to a P2P member who is not in your contact list
Receiving money from another member of the P2P app

Fill in the blanks: Direct deposit typically refers to your _____ sending your _ electronically to your bank account.
employer, bills
parents, allowance
credit card company, bills
employer, paycheck

Which person-to-person payment activity will likely result in your paying a fee?
Linking P2P to your credit card
Linking P2P to your bank checking account
Sending money to a P2P member who is not in your contact list
Receiving money from another member of the P2P app