Advantages of being "Banked"
You want to ensure your money is protected from theft. What advantage of being banked provides this protection?
What is safe/insured?
Without an account, getting a loan can be challenging. What does this reflect?
What is limited access to credit?
This institution operates on behalf of its members, aiming to offer lower fees. What is it?
What is a Credit Union?
This account type is commonly used for everyday transactions and managing funds. What is it?
What is a checking account?
Using an ATM not affiliated with your bank often results in this type of fee. What is it?
What is an ATM fee/charge?
You prefer managing your bills online. What advantage of being banked allows you to do this?
What is convenience?
Keeping cash at home poses the risk of losing it through theft or other mishaps. What is this risk referred to?
What is potential for loss?
This type of financial institution focuses on generating profit for its shareholders. What is it?
What is a commercial bank?
If you want to earn interest on money that is not immediately needed, you might use this. What is it?
What are Certificates of Deposit?
This fee applies when your account balance drops below a required level. What is it?
What is a low-balance penalty?
You need to withdraw cash quickly from an ATM. What advantage allows you to use your funds whenever you need them?
What is access to money?
Without an account, your money isn't safeguarded against unexpected events. What is this called?
What is no insurance?
Known for specializing in savings and mortgages, this institution may be either mutual or stock-owned. What is it?
What are Savings & Loan Associations?
To purchase property and repay over a long period, this financial product is used. What is it?
What is a mortgage?
This fee is incurred simply for maintaining your account, irrespective of transactions. What is it?
What are maintenance fees?
While traveling, you often need to handle your finances from various locations. What advantage of having a bank account supports this need?
What is convenience?
If you do not maintain a certain balance or meet account requirements, your bank might impose additional costs. What are these potential fees called
What are maintenance fees or low-balance penalties?
This institution, typically dealing with residential mortgages, is owned by its depositors. What is it?
What are savings banks?
Paying bills online without writing checks falls under this service. What is it?
What is electronic bill payment?
When you spend more than what is available in your account, you might incur this fee. What is it?
What are overdraft fees?
Keeping track of your financial activities and transactions helps in effective money management. What feature of a bank account aids in this process?
What is providing a record of deposits and receipts?
While having a bank account offers many advantages, you might still face costs for certain services, such as using ATMs that are not part of your bank's network. What is this type of fee known as?
What are charges for ATM use?
For services related to financial advisory and capital raising, you would approach this type of institution. What is it?
What are investment banks?
This account is designed for saving money and earning interest over time. What is it?
What is a savings account?
A check that is guaranteed by the bank and drawn from its own funds is known as what?
What is a cashier’s check?