savings accounts
what are reasons to have a savings account
a saving account provides a safe place to keep your money, typically providing insurance on your deposit up too $250,000.
whats a debit card
a debit card is plastic card that comes with most checking accounts. it allows you to withdraw cash and make deposits
how can you get started on banking online
virtually all financial institution offer the ability to bank online. after you open up an account, you can set it up for the internet access by visiting the financial institutions website
what is interest
interest is the cost of using money. when you deposit money in a saving account, the bank or credit union pays you to interest because it uses your money to make loans to other costumers
if you dont want a branded debit card, can you still access your money at a ATM
probably. most banks offer an ATM only card to customers who request it .
what is a online bill pay
online bill pay is offered by most financial institutions, which allow you to pay your bills by entering the names of the companies you owe money to
what is a check casher
it s a checking cashing outlets are a form of alternative or fringe banking service in which non bank companies cash paychecks and government checks
what is compound interest
its things, simple and compound. when you are earning interest, compound is better because you earn interest not only on your initial deposit but also on the interest you have accumulated
what is a point of sale transaction
you can use your debit card to make a purchase at stores that accept such cards- this is called a "point of sale" transaction
what is online banking
online banking is sometimes referred to as a internet bank, which lets you access your account and make certain transaction using a computer and internet connection
what are pay loans
they are somtimes called cash advances, payday advances, or deposit advances loan, are short term loans that are due in a full on your next pay day
what is an overdraft fee
its when you use an ATM not owned by your bank
what is a hold
its when you use your debit card in situations wherw the financial amount is unknown(which is not knowing ow much money you got in your account and buying things)
what is mobile banking
mobile banking refers to accessing your account and making financial transactions using your mobile device
how does a checking account work
when you open a checking account at a bank or credit union, you are given an account number which allows you to deposit money into your account
are you responsible for a transactions made with my lost or stolen debit card
your liability for transactions made with your stolen debit card is only $50 if you report the loss within two business days of the time you became aware that its missing
how can online banking affect you
it can effect you by you wanting to take money out at the moment and cant because the online banking is offline or the bank you can get money from is closed