Checking
put money INTO checking account
smartphone access, mobile deposits, THIS, and convenient ATM locations are features of savings accounts
account transfers
Spending more than you have in your account so the bank covers the purchase and charges a fee.
Avoid- direct deposit, maintain min. balance
overdraft fee
low balance alert is
Alerts you when balance is low
50 goes to
needs
take money OUT OF checking account
what fees are associated with a savings account?
minimum balance, maintenance, and transaction
Not having enough in your account/bouncing a check
Avoid- keep an eye on your account
insufficient funds fee
Alerts you when DD goes through
30 goes to
You should open a checking account to keep this safe?
money
what are the types of savings accounts
traditional, online, CD and MMA
Transferring money without using physical cash
Avoid: use sparingly
wire transfer fee
THIS account activity alert alerts you if there are numerous suspicious charges or charges in different areas
unusual
20 goes to
savings
how often will you receive a checking account statement?
monthly
what does a CD do
Closing account too early
Avoid: keep open for 90-180 days
early account closing fee
debit card alert is
Alert for active time debit card use
THIS is a money saving app that is $3 a month, every time you spend money it rounds to the nearest dollar and puts that money in a savings account
Qapital
checking accounts allow no what?
transaction limits
what does an MMa do
pays interest the longer you leave money in
Moving money from a savings account too much
Avoid- use checking as an everyday account
Alert for a change to personal information/passwords
profile change alert
are____
advantages of online banking