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 want to check your account's balance in the app. What advantage of having a bank account supports this?
What is convenience?
What is potential for loss?
This institution 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?
Knowing that up to $250,000 of my money is protected.
What is safe/insured?
My money is not protected
What is No Insurance?
For services related to financial advisory and capital raising, you would approach this type of institution. What is it?
What are Savings and Loan associations?
This account is designed for saving money and earning interest over time. What is it?
What is a savings account?
A check that is drawn by a bank using its own funds is known as what?
What is a cashier’s check?