Definitions
Adding or putting money into an account.
Deposit
What does almost every person in Canada have to pay?
Taxes
Name the currency used in the country where Pax Lodge is located.
the British Pound
What do people use now that have made cheque unnecessary?
E-Transfer
Name 2 different banks
TD, CIBC, RBC, Scotiabank, Simplii
Taking money out of an account
Withdraw
In order to purchase a house, you must first get this from the bank.
a Mortgage
Name the currency used in the country where Our Cabana is located.
Mexican Peso
This form of purchasing lets you buy something now and pay later
Credit Card
What is it called when the bank lets you use money but you have to pay it back later?
A Loan
A plan on how to spend and save money
Budget
Name 2 things that would appear on a cheque
The address, the name, the account name, the account number, the memo line, the pay to order line, the money written out, the signature line.
Name the currency used in the country where Our Chalet is located.
Swiss Franc
What does PIN stand for?
Personal Identification Number
This is a basic account that allows someone to deposit and withdraw money, write checks, and receive a monthly statement.
Checking account
Extra money you can either earn or owe
Interest
Name 1 positive and 1 negative to a credit card.
Positive: Builds credit score, big limit, buy now/pay later
Negative: debt, overspending
Name the currency used in the country where Sangam is located.
Indian Rupee
What does ATM stand for?
Automated Teller Machine
A basic type of bank account that allows you to deposit money, keep it safe, and withdraw funds, all while earning interest at a high rate.
Savings Account
What is the term for accidentally taking more money out of your account than you actually have?
Overdraft
Is interest a good thing or bad thing?
Both
Name the currency used in the country where Kusafiri is located.
HINT: It is in Rwanda
Rwandan Franc
An I.O.U that you pay back later
Credit
Name a type of account everyone should have and keep adding money to their whole life.
Retirement Savings, RRSP