Financial institutions
What kind of banking?
Easy terms
Harder terms
Hardest terms
100
Bermuda's first bank founded in 1874.
What is the bank of NT Butterfield?
100
This type of bank has no brick-and-mortar presence.
What is a digital bank?
100
The exchange (goods or services) for other goods or services without using money.
What is barter?
100
The wealth and resources of a country or region, especially in terms of the production and consumption of goods and services.
What is economy?
100
A regulator who makes sure financial institutions follow the rules.
What is a financial authority?
200
This bank has more branches than any other bank in Bermuda.
What is HSBC Bermuda?
200
This type of institution caters to personal accounts.
What is retail banking?
200
A small plastic card issued by a bank, business, etc., allowing the holder to purchase goods or services on credit.
What is a credit card?
200
Of the same kind; alike.
What is homogenous?
200
This is easy to carry.
What is portable?
300
This institution is not for profit.
What is the Bermuda Credit Union Co-Op Society?
300
Where customers can login to access their accounts and make payments or account transfers.
What is online banking?
300
A card issued by a bank allowing the holder to transfer money electronically to another bank account when making a purchase.
What is a debit card?
300
Money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt.
What is interest?
300
An intermediary instrument or system used to facilitate the sale, purchase, or trade of goods between parties.
What is a medium of exchange?
400
This is expected to be Bermuda's newest bank.
What is Bermuda Digital Bank (Jewel)?
400
The ability to execute routine banking tasks through your tablet or phone.
What is mobile banking?
400
An estimate of income and expenditure for a set period of time.
What is a budget?
400
The money one has saved, especially through a bank or investment plan.
What is savings?
400
An asset, commodity, or currency that maintains its value without depreciating. Gold is a type of this.
What is a store of value?
500
This institution is for corporate customers only.
What is Bermuda Commerical Bank?
500
This is a physical location where you can withdraw or deposit money, or apply for a loan.
What is a branch?
500
A bank account that earns interest.
What is a savings account?
500
A legal agreement by which a bank or other creditor lends money at interest in exchange for taking title of the debtor's property, with the condition that the conveyance of title becomes void upon the payment of the debt.
What is a mortgage?
500
One dollar is worth 22 pesos.
What is a measure of value?