Fees
This type of fee is charged when you withdraw more money than was in your account.
What is an NSF (non sufficient funds) fee?
This type of an account allows you to earn interest on your money.
What is a savings account?
The acronym FDIC stands for this.
What is Federal Deposit Insurance Corporation?
This type of account is connected to your ATM or Debit card.
What is a checking account?
This can be a good place to store paperwork or items that would be difficult to replace in case of fire, flood, or theft.
What is a safety deposit box?
This type of fee is charged on a CD if you withdraw money from it early.
What is a penalty?
This type of account allows co-owners to have equal access to the account.
What is a joint (checking) account?
This is what the bank will pay you for depositing and keeping your money in their institution.
What is interest?
ATM stands for this.
What is automated teller machine?
A social security card, a driver's license and an initial amount.
What are the things you need to open a bank account?
This type of fee is charged on a monthly basis for the use of your account.
What is a monthly service or monthly maintenance fee?
This type of bank account combines elements of checking and savings accounts.
What is a money market account?
To open a bank account you need this.
What is documentation of your identity?
A debit card can be used at most places that accept these.
What are credit cards?
Using one of these may save you money on insurance premiums
What is a safe deposit box?
This is another name for a NSF fee.
What is an overdraft fee?
A savings account allows you to collect one of these two types of interest?
What are simple and compound interest?
This type of financial institution is non profit and controlled by its account holders.
What is a credit union?
You can avoid ATM fees by doing this.
What is using ATMs at your own bank.
This organization insures most credit unions.
What is the National Credit Union Administration?
Having your paycheck and benefits deposited electronically avoids what type of bank fee?
What is a monthly service fee?
This type of account usually has no fees and earns you a higher rate of interest than regular savings accounts.
What is a CD or a certificate of deposit?
This type of interest adds the interest earned to your account balance
What is compound or compounding interest?
You do this to confirm payment with a debit card.
What is sign a receipt?
Banks earn money by doing what two things?
What is lending money and charging fees?