Online Banking/Banking by Phone
ATMS & Debit Cards
Money Math
Savings Accounts
Checking Accounts
100
True or False: Online Banking is a digital payment system which allows customers to make transaction through the phone.
False: Online Banking is a digital payment system which allows customers to make transaction through the internet.
100
Who distributes debit cards? Companies or the bank?
The bank
100
Jill wrote out checks for $38.97, 19.99 and $268.50. What is the total amount of checks she wrote out?
$38.97 + $19.99 + $268.50 = $327.46
100
True or False: Savings accounts are knows as withdrawal accounts
False: savings accounts are knows as deposit accounts because you should be putting more money in the account than you are taking out.
100
True or False: Money in your checking account should be used for emergencies only.
False- checking account money should be used for everyday things, like bills or money to go out to dinner
200
Banking by phone lets you pay bills and do other banking business by phone _____ hours a day.
A. 8
B. 24
C. 12
B. 24 hours a day.
200
What have debit cards taken the place of?
Written checks
200
If Miss. M writes out three checks for 118.97, 25.50, and 42.36. How much money did she spend?
$118.97 + $25.50 + $42.36 = $186.83
200
True or False: A savings account is fee paid for the use of money
False: A Savings account is a bank account that lets you store your money securely while earning interest.
200
True or False: you should NOT record debit card purchases in your check register
False: Money you spend on your debit card comes from your checking account which should be recorded in your check register.
300
True or False: A disadvantage to banking by phone is that people don't like talking to humans and would rather talk to a machine
False: Talking to a human instead of a machine is an advantage because you are able to ask questions and get clear answers
300
The money that you get out of the ATM comes from which account: checking or savings
Checking
300
If Bob has $300.00 in his account and withdrawals $100 for new tires on his car, what is his new balance.
$300 - $100 = $200
300
True or False: The primary purpose of a savings account is to spend money for everyday things like bills.
False- the purpose of a savings account is to save money
300
True or False: A checking account is a deposit account that allows withdrawals and deposits.
True : Checking accounts are very liquid and can be accessed using checks, ATMs, and debit cards. A checking account differs from other bank accounts because it allows for numerous withdrawals and unlimited deposits, whereas savings accounts sometimes limit both.
400
True or False: The routing number on a check is different on
False the routing number remains the same. It is specific to each bank. It is the banks identification number
400
True or False: When you purchase something with your debit card, the money you spend does not come out of your account until the end of the week.
False: the money comes out of your account immediately
400
Jonathan's checking account is getting low on money. His balance is $20. Jonathan has to pay his electricity bill next week for $65. If Jonathan deposits $50 into his account will he have enough money in his account to pay his bill?
20+50 = $70. Yes because his bill is $65
400
What happens when you have a low balance (below the balance the bank requires) in your savings account?
The bank will charge you a fee
400
You can take money out of your checking account _________ many times per month
A. 5
B. 10
C. Unlimited
Unlimited- you can take money from your checking account as many times as you want every month
500
Which is safer? Online Banking or Phone Banking
Some argue Phone Banking is safer than internet banking because there is an increase in internet and identity fraud. People store their passwords on their computer which can provide a hacker all of your account information
500
True or False: You should share your PIN (Personal Identification Number) with people
False: You should never share your PIN with people. It is a private number you use to access ATMs and purchases at store.
500
Fred is buying 4 CDs for $19.99 each. What is the total cost for all 4 CDs.
$19.99 x 4 = $79.96
OR
$19.99 + $19.99 + $19.99 + $19.99 = $79.96
500
True or False: You should use a savings account for things that you WANT to buy, not things that you NEED.
False- you should use a savings account for things like new tires or medical bills. Similar to an emergency fund
500
What happens when you spend more money than you have in your checking account?
You bounce a check/ your debit card will be declined