Banking 1
This type of account is best used for everyday spending and paying bills.
Answer: What is a checking account?
This is money taken out of your account.
Answer: What is a withdrawal?
This type of financial institution is owned by its members rather than shareholders.
Answer: What is a credit union?
This term describes money borrowed from a bank that must be repaid with interest.
Answer: What is a loan?
Finish this famous lyric (sing it):
Cause all I need, is a _______ and a _______.
'Cause all I need
Is a beauty and a beat
This is money you put into your bank account.
Answer: What is a deposit?
This is the amount a bank pays you for keeping money in a savings account.
Answer: What is interest?
Name 2 key differences between credit union and commercial bank.
technology, accessibility, member/shareholder owned.
This acronym represents the percentage earned on savings or paid on borrowed money each year.
Answer: What is APY/APR?
This type of financial institution is owned by shareholders and offers banking services.
Answer: What is a commercial bank?
This card is linked directly to your checking account.
Answer: What is a debit card?
This document shows all transactions related to your bank account.
Answer: What is a bank statement?
What House of Hogwarts would I fit in?
Answer: ALL OF THEM.
Gryffindor (Core Traits: Courage, bravery, nerve, and chivalry)
Hufflepuff (Core Traits: Loyalty, hard work, patience, fairness, and dedication)
Ravenclaw (Core Traits: Intelligence, wisdom, wit, creativity, and cleverness)
Slytherin (Core Traits: Intelligence, wisdom, wit, creativity, and cleverness)
Using this type of card generally does not allow you to spend more money than is available in your account.
Answer: What is a debit card?
What NBA player best resembles me?
Acceptable answers:
Russell Westbrook
Mario Chalmers
Giannis Antetokounmpo
Michael Sen
This machine allows you to withdraw cash and check your balance.
Answer: What is an ATM?
This electronic payment method sends money directly from an employer to an employee's account.
Answer: What is direct deposit?
These charges can reduce the amount of money in your account if you are not careful.
Answer: What are banking fees?
Reviewing this regularly helps identify mistakes, unauthorized purchases, and account activity.
Answer: What is a bank statement?
This occurs when you earn interest on both your original savings and previously earned interest.
Answer: Compound Interest
This account is designed to help you save money and earn interest.
Answer: What is a savings account?
These services allow customers to manage accounts using a phone or computer.
Answer: What is mobile/online banking?
This government protection covers eligible bank deposits up to $250,000 if a bank fails.
Answer: What is FDIC insurance?
Name an advantage of compound interest.
Additional interest on top of already earned interest.
Grows faster.
More money.
________ is the natural green pigment found in plants, algae, and cyanobacteria that absorbs sunlight to help them make food
Chlorophyll