Lesson 2: Opening a bank account
Introduction
Time:
- Single class period
Materials:
Activity One: Review of Lesson 1 Homework Task
Activity Two: Opening a bank account
Useful Links:
Introduction:
Most people will have a bank account at some stage in their lives. Sometimes parents open accounts for their children when they are very young. In other cases young people go through the application process themselves, for example, when they start college or get their first job. In this lesson, students will work together to research the application process and the services they will have available to them once their account is open.
Step-By-Step Instructions
Activity One: Review of Lesson One Homework Task
1. Facilitate a whole class discussion about accounts using student feedback from Lesson 1: Homework Task. Prompt questions may include:
- What financial institution did you research?
- What did you learn about the account in general?
- Did anyone research an account that is accessible to young people?
- What does the account you researched allow people to do?
- What types of fees and charges can be applied to the account?
Activity Two: Opening a bank account
1. Divide the class into small groups.
2. Invite groups to brainstorm the types of questions they would need to ask a bank if they wanted to open a bank account.
3. Take feedback from a sample of groups, recording their responses on the white/blackboard.
4. Distribute one copy of Student Worksheet: Opening a bank account – FAQs to each group.
5. Ask each group to compare the questions they devised with those on their worksheet. Is there much overlap? Did they come up with good questions that are not on the worksheet and vice versa?
6. Invite students to use the blank spaces at the bottom of the FAQs worksheet to add additional questions as they see fit.
7. Ask each group to name a bank they are going to approach with their questions.
8. Invite each group to divide up their FAQs so that each person in the group takes an equal share.
Homework Task
Invite each student to get answers to their set of FAQs, either by researching online, over the phone or in person.
Encourage groups to come together before the next class and make the FAQ responses as clear and user-friendly as possible.
The steps for reviewing this homework task are given at the start of Lesson 3.
