Checking Account
What is it called when you put money into your checking account
What is a deposit.
What is the difference between a savings account and a checking account?
A savings account isn't meant for spending like a checking account.
What is the fee called when you overdraw your bank account?
What is an overdraft fee.
Most employers pay their workers by depositing their paycheck into their checking, what is this type of deposit called?
What is a direct deposit
If you save $1 every week for a year, how much money will you have at the end of the year?
$52
What is called when you take money out of your checking account?
What is a withdrawal.
What is the typical minimum balance for a savings account?
What is $5 to $25.
What is an overdraft fee?
When you don't have enough money in your account the bank will loan you the money and charge you a fee.
What are three types of transactions you might see on your bank statement?
Deposits, atm withdrawal, checks, money transfers, fees
How many minutes are in a full week?
10,080
What is an advantage of having a checking account with a local community bank?
You can go in and talk to a real person.
We discussed traditional savings, Online Savings Account, CD's and Money Market accounts. What does CD stand for?
What is a Certificate of Deposit.
Can a bank charge you an overdraft fee if you didn't opt in to overdraft coverage?
No, you have to opt into overdraft coverage.
When you deposit money into your bank account, what is the extra money that the bank pays you monthly called?
Interest
What company was initially know as "Blue Ribbon Sports?"
Nike
Your money is insured by FDIC up to how much?
What is $250,000.
We studied traditional savings, Online savings, CD's and Money Market accounts. Which type of savings accounts acrue the most interest?
What is a Money Market account.
How can you avoid a monthly maintanence fee?
By doing business with a bank that doesn't charge monthly maintanence fees.
If you had $25 in your account and you deposit $10, then you deposit $5 more, and a $1, how much money would you have in your account?
$41
How many dots appear on a "Pair" of dice
42
What does FDIC stand for?
What is Federal Deposit Insurance Corporation.
We studied traditional savings, Online savings, CD's and Money Market accounts. In which account is your money stuck for a set time?
What is a CD or Certificate of Deposit.
What are three ways you take money out of your checking?
ATM withdrawal, visit bank teller, write a check, use your debit card, use online bill pay, transfer money to another account
What does ATM Stand for?
Automated Teller Machine
The fear of heights is called what
Acrophobia