Features of Depository Institutions
Which feature allows customers to view account balances, transfer funds, and pay bills through a standard web browser?
Which is Online Banking?
What is a Depository Institution?
Financial institution in which the main source of funds it deposits from customers
Are all fees charged?
No
you can take money out as many times as you want
False
What is the term for managing banking transactions, such as deposits and payments, via an application on a mobile device?
What is Mobile Banking?
Which one out of these two is an example of Depository Institution: Mortgage Bank or Commercial Bank?
Commercial Bank
Do you need a bank account to have fees?
Yes
What can you do with credit?
-get loans and credit cards
What is the financial tool called that enables purchases and withdrawals from a checking account, and typically requires entering a PIN at point-of-sale terminals?
What is a debit card?
How do depository institutions make money?
They earn money by lending out deposits and loans and funds coming in from people depositing from checking or savings accounts.
what is an overdraft fee?
When you get charged for withdrawing more money then the account has available.
What are the 2 most common bank accounts
savings and checking account
This machine, found in various locations such as bank branches and public areas, provides cash withdrawals, account balance inquiries, and sometimes allows deposits. What is it called?
What is an ATM?
Purpose of depository Institution?
They provide a safe, secure, and convenient way for customers to save money and a source of credit for households and businesses
what year was Micky Mouse created?
1928
True or false, you can earn interest with a savings account
True
Which payment technology uses near-field communication (NFC) to facilitate transactions by simply tapping a card or device near a payment terminal?
What is contactless payment?
What are the 4 non-depository institutions?
insurance companies, pension funds, brokerage firms, and finance companies.
Who has gotten the most music awards?
Beyonce
What are 2 of the 3 services banks give you
financial advice, safe-deposit box, Special needs payments