Banking 101
What are the three types of personal bank accounts?
chequing, savings & joint accounts
changing money from one currency to another
foreign exchange
This type of banking needs a username and password to access the account
online/mobile banking
People should know and trust each other if they open this type of bank account
joint / combination account
a unique code used with a bank card to complete in-person transactions
PIN (personal identification number)
Customers can use these two ways of banking any time of the day or night
online / telephone banking
Name any three things that may be used to verify your identity
account number, ID and address, username + password, security questions, telephone banking PIN
3-digits on the back of a bank card, used to prove that a person has the card in his possession
CVV (card verification value)
This type of financial institution provides service similar to a bank
credit union
These two types of accounts are used to write cheques
chequing & joint account
to sign your name as permission to do something with a cheque (deposit)
endorse
You can ONLY apply for loans at this financial institution
loan companies
When this type of card is used, money is taken from your account right away
debit card
to trick someone into giving personal information in order to take money from them
phishing scam
You can use this type of machine to withdraw cash, or make deposits
ATM (automated teller machine)