Minds On

Why use a bank?

Brainstorm

Brainstorm

Work with a partner, if possible, and brainstorm your thoughts and ideas about the following:

  • What are some reasons why a person would need to go to the bank?
  • List all the services you can think of that a bank has to help people.

Action

Comparing banks

A visual artist decided to review their banking options. When they first opened a bank account, they chose the bank that their family used. What factors should they consider when choosing a bank? What are some things they should consider when opening a new bank account?

Brainstorm

Brainstorm

Use the internet to explore two basic chequing and savings accounts from two different financial institutions. After a preliminary search, work with a partner, if possible, and brainstorm the following questions:

  • What are the positive features of each?
  • What are some areas of concern?

Once you have compiled your answers, complete the Chequing and Savings Account Comparison Organizer in your notebook or use the following fillable and printable documents.

Chequing and savings account comparison organizerPress the ‘Activity’ button to access Chequing and Savings Account Comparison Organizer. Activity(Open PDF in a new window)

Chequing and Savings Account Comparison Organizer
Type of Account Positive Features Concerns
Chequing
Savings

Consolidation

Banking features

Common banking services include:

  • chequing accounts
  • savings account
  • mortgage
  • RRSP
  • RESP
  • TFSA
  • line of credit
  • GIC
  • online banking

Banking service research

Complete the Banking Services Organizer in your notebook or using the following fillable and printable document.

Banking services organizerPress the ‘Activity’ button to access Banking Services Organizer.Activity (Open PDF in a new window)

Review the different banking service or features outlined in the previous list. Choose three of the services and complete the organizer based on your research:

  1. What are the three most important things to know about this service?
  2. Who would benefit from each type of service and why?
  3. Think of one disadvantage and one question you would have about the service.
Banking Services Organizer
Service and three most important things Who benefits? One disadvantage and one question

Reflection

As you read the following descriptions, select the one that best describes your current understanding of the learning in this activity. Press the corresponding button once you have made your choice.

I feel...

Now, expand on your ideas by recording your thoughts using a voice recorder, text-to-speech, or writing tool.

When you review your notes on this learning activity later, reflect on whether you would select a different description based on your further review of the material in this learning activity.

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