Bank Accounts
ATM
What is short for automated teller machine ?
This card uses money directly from your bank account.
What is a debit card?
This lets you deposit checks using your phone camera.
What is mobile deposit?
Money earned from keeping your savings in the bank.
What is interest?
This helps you track spending and avoid overdrafts.
What is a budget?
This account earns interest and is best for storing money long-term.
What is a savings account?
This card lets you borrow money and pay later.
What is a credit card?
This secret number protects your debit card.
What is a PIN?
This type of interest is earned only on the original amount.
What is simple interest?
This document shows deposits, withdrawals, and balances each month.
What is a bank statement?
This bank product locks your money for a set time to earn higher interest.
What is a Certificate of Deposit (CD)?
This is charged when you spend more than you have in your account.
What is an overdraft fee?
Emails pretending to be from banks to steal info are called this.
What is phishing?
Interest earned on both the original money and previous interest.
What is compound interest?
Comparing your records with the bank statement is called this.
What is reconciling your account?
This is the minimum balance required to avoid a monthly fee.
What is a minimum balance?
This is the cost of borrowing money on a credit card.
What is interest?
This adds an extra step of security with a code sent to your phone.
What is two-factor authentication?
A fee charged for using another bank’s ATM.
What is an ATM fee?
Experts suggest saving this many months of expenses for emergencies.
What is 3–6 months?
This government agency insures bank deposits up to $250,000.
What is the FDIC?
This number shows how reliable you are at paying back debt.
What is a credit score?
This is when someone steals your personal financial information.
What is identity theft?
The yearly percentage banks pay or charge for money.
What is APR (Annual Percentage Rate)?
Name one reason keeping money in a bank is safer than keeping cash at home.
What is FDIC insurance / security / theft protection?