Savings Accounts
This savings account usually offers the highest rate if you lock your money in for years.
What is a Certificate of Deposit (CD)?
This account is best used for paying bills and using a debit card.
What is a checking account?
Experts recommend having 3 to 6 of these saved in an emergency fund.
What are months of expenses?
If you notice suspicious ATM withdrawals, you should do this immediately.
What is contact your bank?
Venmo and Cash App are examples of this type of payment system.
What are P2P payment apps?
This type of account often pays higher interest because it has no physical branches.
What is an online savings account?
When you swipe your debit card at the store, money comes from this account.
What is a checking account?
Under the 50/30/20 rule, 20% of income goes here.
What is savings?
Checking bank statements regularly helps you catch these.
What are fraud / errors / unauthorized charges?
To send money on Venmo, you usually need this contact information.
What is an email address or phone number?
This account helps your money grow while still being available for emergencies.
What is a savings account?
If you deposit a paycheck into your account, your balance will do this.
What is increase?
The best time to begin saving for retirement is this.
What is as soon as you get your first full-time job?
If your bank is FDIC insured and it fails, this amount is protected.
What is up to $250,000?
Having your paycheck sent electronically to your bank is called this.
What is direct deposit?
This type of account may require a higher minimum balance but earns interest.
What is a money market account?
If you withdraw money from an ATM, your balance will do this.
What is decrease?
Living paycheck to paycheck means you have little or none of this.
What is savings / extra money left over?
Joe had money in a non-FDIC bank. John had money in an FDIC bank. This person is worse off.
Who is Joe?
Having your bank automatically send rent each month is this.
What is online bill pay?
This bank insurance protects deposits up to $250,000.
What is FDIC Insurance?
This happens when you spend more money than is in your checking account.
What is overdrafting?
This type of interest allows you to earn interest on your interest.
What is compound interest?
Sharing this personal number is unsafe and usually not needed for Venmo payments.
What is your Social Security Number?
Online banking allows customers to do these three things without visiting a branch.
What are transfer money, pay bills, and automate savings?