Checking
This type of account allows for frequent deposits and withdrawals, typically with checks and debit cards.
What is a checking account?
This type of account allows you to store money securely and earn interest over time but typically has limited withdrawal capabilities.
What is a savings account?
The amount you pay to lower your car payment during the sale
What is a down payment?
This is the amount of money a tenant agrees to pay to a landlord regularly to live in a rental property.
What is rent?
This type of financial institution typically has more branches and ATMs nationwide, offering greater accessibility for customers.
What is a bank?
This fee is typically charged when you don't have enough funds in your checking account to cover a transaction.
What is an overdraft fee?
A common reason people open a savings account is to set money aside for this type of event, which is usually unexpected but requires financial resources.
What is an emergency fund?
This term describes a car bought and sold without being owned by anyone.
What is a new car?
These financial institutions, which include banks and credit unions, are the primary sources of mortgage loans.
What are mortgage lenders?
This type of financial institution is owned by its members, who are also its customers.
What is a credit union?
Bank Services This service allows you to access your checking account from various ATMs, often at no extra charge, if the ATM is part of a specific network.
What is an ATM?
This method of saving involves automatic transfers from your checking account to your savings account, often set up to happen each payday.
What is automatic savings?
the amount of money you pay monthly to a lender when you borrow money to buy a car
What is a car loan payment?
This term refers to the interest charged on a mortgage loan, typically expressed as a percentage of the loan amount.
What is the interest rate?
This type of banking center is typically a for-profit institution that serves individuals, businesses, and governments, offering services like loans, credit, and savings accounts.
What is a commercial bank?
Account Management This online service offered by most banks allows customers to monitor and manage their checking accounts through a secure website or app.
What is online banking?
This is a savings plan offered by employers, where employees can contribute part of their earnings to save for retirement, often with employer matching.
What is a 401(k)?
This document proves that a vehicle has been properly insured and is often required before you can legally drive it.
What is an insurance card?
These are the additional fees, such as appraisal fees and title insurance, that buyers and sellers pay when finalizing a real estate transaction.
What are closing costs?
This service allows customers to contact a banking center representative via phone, email, or online chat for help with their accounts or transactions.
What is customer service?
This type of card is typically linked to a checking account and allows you to make purchases and withdraw cash at ATMs.
What is a debit card?
This federal program protects deposits in savings accounts up to a certain amount, ensuring the safety of your money if the bank fails.
What is FDIC Insurance?
Financial institution or individual that provides funds to a borrower to purchase a vehicle.
What is a lender?
This sum of money is paid upfront by a tenant to cover potential damage to the rental property and is usually refundable at the end of the lease.
What is a security deposit?
Bank Insurance In the U.S., the Federal Deposit Insurance Corporation (FDIC) insures deposits at banks for up to this amount per depositor, per bank.
What is $250,000?