Show:
Banking Terms
All about Interest
banking accounts
Banking stuff
Banking need to know
100
What is an automated teller machine commonly known as?
ATM
100
What is interest paid off of?
The balance in your savings account.
100
If you like to take out money a lot, what account fits you?
Checking account
100
What should you keep when you use your debit?
receipts
100
How long can you have a bank account?
Forever
200
What is a balance?
The money in your accounts
200
When you get a loan you have to pay what on the money?
Interest
200
If you want an account to save you money, what account fits?
Savings account
200
What are the numbers called to use your Debit card?
Pin Numbers
200
Can we open a bank account for you if you are under 18?
Yes, If you are under 13 we can open you a Rags to riches account with a parent.
300
What is debit card?
A card that accesses your checking account
300
When can you pay interest?
At the end of every month or twice a year
300
What kind of accounts can you lock your moneny in to get better interest?
Certificates (CD's)
300
What are 3 out of the 5 ways you can access your account?
Acceptable answers: Online banking, moblie banking, Branches, ATM and Shared Branches.
300
How old do you have to be to have get a Debit Cardfor your bank account?
13 Years old.
400
What is service charge?
Is a fee for using a service the bank provides
400
What is the difference between interest for a savings account VS interest for a loan.
Interest on a savings account is paid to you, Interest for a loan is paid to the lender.
400
What account Does Elevations offer to children 13 and under?
Rags to Riches account.
400
How do you keep track of the money in your accounts?
By keep a registar, online banking, moblie banking, Teller 24, and statements.
400
Should you try to keep money in a saving account or take it out when ever you need it?
Save it!
500
What is a "Wire Transfer"?
Is a method of electronic funds transfer from one person or institution (entity) to another.
500
What is an Interest Rate?
An interest rate is the rate at which interest is paid by a borrower (debtor) for the use of money that they borrow from a lender (creditor).
500
What is a Money Market?
A special type of savings account
500
Who is Elevations Mascot?
Rags.
500
What is the difference between a Credit Union and a Bank?
At a Bank You are simply a customer, rule are set for you. At a Credit Union you are a member, You actually own part of the company and get to vote on decisions of the company.