What is by charging borrowers more money than they pay saver.
100
A fee paid for the opportunity to use someone else's money
What is interest
100
making deposits, withdrawls, and transfers of funds without using a bank teller
What is electronic banking (EFT)
100
The person to whom a check is made out
What is payee
100
a type of check often required for very large payments (down payments)
What is Cashier's check
200
A financial institution owned by shareholders and operate for their profit
What is a commercial bank
200
provides legal proof of payment
What is canceled check
200
When should you count the money you get out of an ATM
What is when you are in a safe secure place
200
what is a PIN and when will you use it
What is Personal Identification Number. Any time you use a debit card to get cash.
200
An example of a restricted endorsement
What is For deposit only, your name
300
A nonprofit financial institution owned by members
What is a credit union
300
signing the back of a check when cashing it
What is an endorsement
300
bringing the bank statment and your own record of transactions into agreement
What is reconciling
300
Payments electronically transferred into the your account from your employer
What is direct deposit
300
Who can cash this check if endorsed this way
Janet Sawlaw
For deposit only
What is anyone who wants to
400
the term used by people to refer to any type of financial institution where money is deposited.
What is a bank
400
shows teh opening and closing balances, a list of financial transactions conducted during th emonth and service charges
What is statement
400
Lack of sufficient funds to cover the full amount of a check
What is overdraft
400
Who should a lost ATM card be reported to
What is the bank issuing the card
400
What is a Federal agency that insures savings, checking and other deposit accounts in most banks.
What is FDIC
500
Money kept in the bank to be able to give to customers who withdraw cash.
What is reserves
500
When someone illegally writes a check on someone else's account
What is forgery
500
A check that is stamped and perforated to show that it has been paid
What is canceled check
500
When should you report a lost or stolen credit card? How long after it is stolen do you before you are responsible for all charges on a stolen or lost card?
What is immediately; 60 days
500
What is the difference between a debit card and a credit card
What is Debit cards are tied directly to a checking account and the money is withdrawn immediately from it; a credit card is borrowing money for repayment at a later time.