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A written order telling the bank who to pay and how much.
What is a check
You can't find your debit card anywhere, what should you do?
What is call the bank?
Your paycheck is electronically deposited into your account.
What is direct deposit?
Keeps your money safe while allowing you to access it several different ways.
What is a checking account?
You must enter this to use your card for debit transactions
What is a PIN (personal identification number)?
Pete sets aside $50 each month from his earnings to have money for a car down payment. Where should he put the $50 so it's safe?
What is a savings account?
Looks like a credit card, it's directly linked to your bank account
What is a debit card?
You can manage your account on any internet-enabled smartphone.
What is mobile banking?
The unique nine-digit number telling the payee's bank which bank to get the money from.
What is the routing number?
What is proof of payment?
This is filled out when you bring money to the bank to put into your account.
What is a deposit slip?
Lets you send money to your creditors and utilities straight from your checking or savings account.
What is Online Banking?
After you write and sign your check, who can legally cash the check?
What is the payee?
Instructing your bank to cancel a check you wrote before it's cashed
If you use your credit card to buy something online from the internet, what should you look for to ensure it's a safe, secure site?
What is a padlock?
This is a type of payment portal. (Send money to a friend over the internet)
What is Paypal, CashAp or Venmo?
You can immediately transfer funds from your account to another person's account in different cities or countries without even writing a check.
What is a wire transfer?
What is an overdraft fee?
Provides you with on-the-spot, short-term loans for up to 50 percent of an item's estimated value.
What is a pawnshop?
What is a cashier's check?
Not-for-profit organizations offering the same financial services as banks.
What are credit unions?
You should do this at least monthly to ensure that you can account for all of your deposits and withdrawals.
What is reconcile?
You leave a check at the store, they give you money now and they cash your check when you get paid (on a future date)
What is a payday loan?
This is an institute that sells financial services such as loans, checking accounts, credit cards, CDs, and safe deposit boxes for storing your valuables.
What is a bank?
This insures customers' money that is in a bank.
What is the FDIC (Federal Deposit Insurance Corporation)?