The Fulton School
The day started with meeting the Executive Vice President of Carrollton Bank over breakfast. Then I went to the bank and shadowed in the teller line.
Some key things I learned today:
-How a bank makes money
-What a teller does
-tons of terminology including different types of accounts and loans
In conclusion today was a success. I personally do not get to do the “banking” itself; however I can see/help with what the bank teller is doing. I got to count some money today and assist a few customers through the drive through window.
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Sounds like you had a fun first day :))))))
That sounds really interesting! I’d be interested to know how banks actually make money. Is it tonight some sort of tax they take in the money people deposit, or a sort of fee they charge whenever you deposit or withdrawal money?
yea there are two ways banks make money. I would use the word fee over tax. There is a monthly service fee and there are loans. They make money off the interest that you pay on the loans. Deposits are actually liabilities to the bank because they have to pay you (depending on the type of account you deposit your money to) .