General
What is a bank?
a financial institution in which people use to store their money
a debit and a deposit
debit takes money out, deposit puts money in
Brandon is saving up for a down payment on a pre-owned car, the cost will roughly be $10,000. Which kind of account would be best for him to open?
a savings account
Name 2 ways a person can use a bank.
Saving, borrowing, paying bill or managing money
A checkings and saving account
one is an account that is specifically made for spending the money you put in the account the other is for saving money
Alex got his paycheck and instead of carrying it around he decides to open an account just for everyday spending. Which account should he open?
a checking account
Privately owned banks that are often for only people in certain jobs
credit unions
A online banking app transaction and credit card transaction?
a online banking app transfers money between people while a credit card is used for businesses
Ace is at Kohls. He is offered a 20% discount if she signs up for a ____ card from Kohls.
a credit card
The pin is typically used when dealing with which type of card
a debit card
an ATM and a bank teller
computer banking vs real person
Kross does not have a car and needs easy access to his account. What kind of bank would be most beneficial to him if she has no way of getting around?
an online bank
The government agency that protects your money in the bank
FDIC
A debit card and a credit card
debit card only uses the money in which one a person has in a bank. A credit card uses the money in which a person borrowed from the place in which they received the card.
Issac wants to send money to his friend to pay for pizza. What type of app does he need to download on his phone to pay his friend?
a online banking app