TRADITIONAL BANKS
This type of bank account lets you access money with a debit card
What is a checking account?
Unlike banks, credit unions are this type of organization
What is Not-for-profit?
This device lets you deposit checks remotely using your bank's app
What is a Smartphone camera?
Popular payment app owned by Apple
What is Apple Pay?
This popular term describes services that let you split purchases into smaller payments
What is Buy Now Pay Later?
This type of bank account earns more interest than a checking account
What is a savings account?
People who use a credit union are called this.
What is Members?
This term means accessing your bank account through a web browser
What is Online banking?
Payment apps require this to verify your identity
What is a Bank account/debit card link?
Most BNPL services split purchases into this many payments.
What is 4 payments?
This federal agency insures bank deposits up to $250,000
What is the FDIC?
Credit unions often offer this benefit compared to traditional banks
What is Lower fees/Better interest rates?
This security feature uses letters, numbers and symbols to protect your account
What is a Strong password?
This social media company owns the payment app Venmo
What is PayPal?
Unlike credit cards, most BNPL services don't charge this on regular payments
What is Interest?
These three things are typically needed to open a student
What are ID, Social Security card, and parent/guardian?
To join a credit union, you must meet this requirement
What is a Common bond or membership eligibility?
This app can help track spending and create budgets
What is Mint, YNAB, or Rocket Money or explain another budgeting app?
This security feature provides extra protection beyond passwords.
What is Two-factor authentication?
Missing BNPL payments can hurt this important financial score
What is Credit score?
This fee is charged when you spend more money than you have in your account
What is an Overdraft fee?
This agency insures credit union deposits up to $250,000
What is NCUSIF?
Banks use this encryption to keep online transactions secure
What is 256-bit SSL?
This is the maximum amount new Cash App users can send in a week
What is $250?
Since BNPL doesn't have this, using multiple BNPL services at once can lead to overspending and debt problems
What is a central tracking system? (It's easy to take on too many payment obligations at once)