Vocab
What is the amount of the check written out in words
What is the Legal Amount
A Traditional Savings account typically has low or high interest?
What is low
What is an Online Bank
When you use your debit card at the grocery store, what account is your money coming from?
What is your Checking Account
How often do customers typically receive a bank statement for their checking account?
What is Monthly
What is signing the check on the back, with your signature, before cashing?
What is an Endorsement
These accounts have higher interest but also require a higher minimum balance to open
What is a Money Market
This option offers easy access to cash
What is a traditional bank
You can pay bills and write checks from this account
What is a Checking Account
True or False: Opting for overdraft protection is the most financially responsible choice to make when opening a new checking account
What is False
What is the amount of the check written in numbers, with a decimal point separating dollars and cents
What is the Written Amount
Which savings account holds your money for a certain amount of time, preventing you from withdrawing your money?
What is a Certificate of Deposit
This option benefits from not having to visit a physical location. However, depositing cash will be a challenge.
What is an Online Bank
Banks use these accounts to distribute loans to customers
What are Savings Accounts
Protection for bank customers’ deposits up to $250,000, guaranteeing their money is still available if the bank goes out of business
What is FDIC Insurance
What are checks that have been paid from your account by the bank?
What are Canceled Checks
These accounts have a higher interest rate and are used to increase your return faster than a typical savings account
What is High Yield Savings Account
This bank offers in-person service that can better assist with specific needs as well as help in building a relationship that can make a difference when requesting a loan
What is a traditional bank
These accounts receive interest
What are Savings Accounts
Experts recommend that you accumulate enough to cover how many months for an Emergency Fund?
What is 3-6
What is comparing your checking account records to your bank statement records.
What is Reconciling
How many times can you withdrawal from a savings account before being penalized?
What is 6 times
What must you need in order to utilize Person-to-Person apps
What is a checking account
This account is typically not withdrawn from unless it is an emergency
What is a Savings Account
Are a financial transaction application that runs on any connected device.
What are Digital Wallets or Person to Person Payments