What is a Bank Account? The Basics of Checking & Savings Accounts for Beginners Lesson

Students learn a lesson on the fundamentals of bank accounts, exploring the differences between checking and savings accounts, and understanding the pivotal role these accounts play in wise money management and achieving financial independence. This lesson on bank accounts introduces learners to the essentials of how bank accounts operate, including the distinct advantages of checking and savings accounts.

Key themes discussed are the safety and convenience of handling finances through these accounts, the accessibility of funds via debit cards at any time, and how interest rates contribute to the growth of savings. Furthermore, the curriculum emphasizes the significance of financial independence and the effective management of finances as crucial steps towards realizing personal ambitions and dreams. This educational content is designed to be engaging and straightforward, making the complex subject of banking accessible and enjoyable for students, thereby encouraging them to make well-informed decisions when choosing the bank account that best fits their financial needs and goals.


Use this video lesson on the topic of bank accounts. Learn basic related concepts of

  • Money Management
  • Saving Strategies
  • Financial Security
  • Earning Income
  • Saving
  • Spending
  • Investing


7-12th grades. Middle School. High School. Adult Education.


30-45 Minutes. It may be necessary to adjust the lesson plan and allocate more or less time to certain topics, depending on the needs and interests of the students. More in-depth lesson plan below will be longer.


Hand out the worksheet below (see the GET LESSON button near the bottom of the page).

Show students the video and have and have them complete the worksheet.  Review the questions on the worksheet.  For a more in-depth lesson, complete the lesson plan below.

What is a Bank Account?

After watching the video, ask students to summarize the main points made in the video.


Lesson Plan: Understanding Bank Accounts

Lesson Objective:

Students will understand the basics of bank accounts, including the differences between checking and savings accounts, the benefits of using a bank account, and how to choose the right account for their needs. They will also learn about the importance of keeping their bank information secure.

Materials Needed:

  • “What is a Bank Account?” video
  • Quiz on the video content
  • Handouts with key terms and definitions
  • Access to online banking websites for research (optional)

Introduction (10 minutes):

  1. Start with a discussion about students’ current understanding of bank accounts.
  2. Show the video “What is a Bank Account?”.

Discussion Questions (15 minutes):

  • What are the main differences between a checking account and a savings account?
  • Why might someone choose to use a bank account instead of keeping cash at home?
  • How can a debit card be a useful tool for managing your finances?
  • What are some benefits of saving money in a savings account?
  • How can you keep your bank account secure?

Activity 1: Role-Playing (20 minutes)

Divide the class into small groups. Each group will role-play a scenario where they need to choose the best bank account for their needs, based on different life situations provided by the teacher (e.g., a student saving for college, someone starting their first job, etc.).

Activity 2: Bank Account Feature Comparison (15 minutes)

Students will use handouts or online resources to compare different bank accounts. They will look for features like fees, minimum balance requirements, interest rates, and online banking options. Each student will then choose an account they believe best fits their needs and explain their choice to the class.

Conclusion (5 minutes):

Summarize the key points covered in the lesson. Emphasize the importance of making informed decisions about managing money and the role of bank accounts in financial planning.

Homework Assignment:

Students will take a quiz based on the video to test their understanding of the concepts discussed. They are also encouraged to discuss with their families about the type of bank accounts their families use and why.

Additional Resources:

  • Handouts with a glossary of banking terms and their definitions.
  • Links to websites for further reading on bank accounts and financial literacy.

Lesson Resources

Get Lesson


For additional related lessons, explore our main category pages:

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