Bank Accounts
Bank Accounts II
Paper
Paper or Plastic?
Paper or Plastic?
100
What are the two accounts you open at a bank?
Checking & Savings
100
This type of account is for money that you set aside for emergencies.
What is a savings account.
100
A paper instrument used to withdraw money from an account.
What is a check
100
Money a bank gives you to make large purchases that you can repay overtime.
What is a loan
100
You can use this card now and pay back the amount later.
What is a Credit Card
200
The total amount of money in your bank account.
What is Balance
200
A machine provided by your bank that allows you to use your debit card in order to withdraw cash and deposit checks.
What is an Automated Teller Machine (ATM)
200
The practice of creating unauthorized copies of currency
What is counterfeiting
200
The fee or charge paid for the use of money.
What is Interest
200
Visa, Mastercard, Discover, American Express.
What is Credit Card Issuers
300
This type of account transaction increases the account balance.
What is a deposit
300
A four digit numeric code that allows you to access cash from the ATM with your debit card.
What is PIN (Personal Identification Number)
300
His face is on the $100 bill.
Who is Benjamin Franklin
300
DAILY DOUBLE (2 minutes) Explain or illustrate how credit cards are different than debit cards.
Credit cards are a loan from the bank while a debit card is the money from your checking account. Credit cards send you a bill every month for what you owe but debit cards send a statement of how much money you have.
300
The amount of credit card balance that remains unpaid
What is unpaid balance
400
This type of account transaction decreases the account balance.
What is a withdrawl
400
This type of account is for money that you set aside for emergencies.
What is a savings account.
400
DAILY DOUBLE (2 minutes) List three expenses you would use your debit card (checking account to pay) List three expenses you would use your credit card to pay
Debit -What is rent, food, electricity Credit - What is car repair, healthcare, appliances
400
Withdrawing money from an ATM with this type of card means you are taking a "loan" or "borrowing" money from the bank.
What is a credit card
400
Using a credit card for online shopping is safer than using this type of card.
What is a Debit Card
500
This type of account allows you to write checks and use debit cards.
What is a checking account
500
This is used to pay bills when you don’t have a checking account.
What is a Money order
500
These two monetary instruments withdraw money directly out of a checking account when used as a medium of exchange.
What is check and debit card.
500
This increases the cost of goods and services purchased with a credit card.
What is interest
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