Accounts
This account is meant to keep money in it for longer periods of time
What is a SAVINGS account
A fee charged when you use an ATM machine that is not owned by your bank.
What is an Out of Network Fee
An individual location of a bank franchise
What is a Bank Branch
You write this out to different people or businesses when you want to pay for something but don't have cash.
What is a Cheque
This is like a cheque but is fully guaranteed by a bank.
What is a bank draft
This account is the right choice if you need to spend money on a regular basis
What is a CHEQUING account
The fee charged by a bank in order to have different types of accounts. They charge this 12 times per year.
What is a monthly fee
What is a Withdrawal
A cheque with a date that is 6 months or more in the past, and therefore can't be cashed or deposited
What is a Stale Dated Cheque
Switching your countries money in order to get another countries money
Currency Exchange
This account is used if you travel to a particular country on a regular basis, and need to keep money from that country
What is a Foreign Currency account
The fee you pay when you have more withdrawals from your bank account than your contract allows
What is an excessive transaction fee
Putting Money into a bank account
What is a deposit
A cheque written with a future date on it
What is a Post-Dated Cheque
This organization protects up to $100,000 of the money in your bank account
What is the CDIC
If you share a bank account with another person
What is a Joint Account
something you can add on to your bank accounts in order to protect you against the fees related to spending more than what is available in your account
What is Overdraft Protection
When you send money to another person through the use of a bank app or bank website.
What is an e-transfer
This is required at the bottom of all cheques in order for the cheque to be valid
What is a signature
This provides automatic, regularly scheduled withdrawals from your bank account
What is a Pre-Authorized Payment
A bank account that has an above normal interest rate
What is a High Interest Account
The average Overdraft fees in Canada
What is $35
A piece of plastic that allows you to spend the money in your bank accounts electronically at stores
What is a Debit Card
When you write a cheque but there is not enough money in your account to cover the cheque.
What is an NSF Cheque
The amount you will pay if you use the ATM machine of a bank where you are not the customer
What is $1 - $9