Vocab
a combo of open accounts,total debt,repayment history, and other factors
what is credit
Two cards you can be given to access the funds.
Credit card and debit card
Personal Accounts
This account you can't use for business purposes and the ownership is determined by the most current signature card.
You agree to pay all ______ charged to your account
Fees
money you owe
what is debt
Name of account with only one listed owner.
Solely Owned Account
Solely Owned Account
This type of account is only controlled by one person.
You can withdraw __ a month from savings
6
summary of financial trnasactions
what is a bank statement
The bank has the right to refuse deposits at any time.
True
Joint Accounts
This account is when one or more people control the account.
Are fees scheduled?
yes
non sufficient funds
what is nsf
Accounts listed as business cannot be used in ______ transactions.
Personal
Savings Account
You put money in this account for certain purposes.
Transfers from ____ may result in saving.
a medium of exchange that can be used in place of hard currency
what is a travelers check
Business Account
This account can only be used for business purposes
Taking money out of your account to pay debts.
Setoff