The Purpose of Banks
Banks are ______ expensive than predatory financial services.
What is Less?
This type of company provides lines of credit to consumers.
What is credit card companies?
This type of bank account makes spending and managing your money safe and convenient.
What is Checking Account?
Many people end up with errors in their checking accounts because they don't do what?
What is pay attention to their money?
People who don't have bank accounts
What is Unbanked?
Over _____ million Americans are unbanked, meaning they don't have bank accounts.
What is 14?
This type of firm helps people with specific advice related to comprehensive investing strategies.
What is Wealth management firms?
This type of account earns a small account of interest and gives you quick access to your money when you need it.
What is a Basic(or regular) savings account?
What percentage of customers regularly use online banking?
What is 71%?
A financial institution licensed to receive deposits and provide financial services.
What is Bank?
This percentage of borrowers use cash from a payday lender for regular monthly expenses like utilities.
What is 70%?
This type of bank provides market advice, explains regulations, and helps businesses price and sell stocks or bonds to their investors.
What is Investment Bank?
Certificates of deposit offer higher ____ rates, but you'll have to "lock" your money for a specified amount of time.
What is Interest?
What percentage of customers regularly use mobile banking?
What is 43%?
People who have savings or checking accounts but still use alternative financial products and services.
What is Underbanked?
The FDIC and NCUA insure up to how much money per depositor per account.
What is $250,000
This type of company provides investment advice, income tax preparation, and estate planning.
What is Financial Advertisement?
When should you open a Bank Account?
What is between the ages of 13-17?
To check that your account balance is accurate and matches what your bank shows, add any outstanding ____ and subtract an outstanding _____.
What is Deposits and Withdrawls?
Nonprofit financial institutions that are owned and operated by their members; offer deposit accounts and lending services similar to a retail bank but at a lower cost.
What is Credit Unions?
People who lack____ are intimidated by traditional financial services because they never learned about them.
What is Financial Literacy?
With overdraft protection, you avoid the overdraft fee but you have to pay the money back with what?
What is Interest?
You should choose a bank or credit union that's insured by the _____ or the ______.
What is FDIC or NCUA?
What types of electronic payments are used to pay bills online and make bank-to-bank transfers?
What is ACH(Automated Clearing House)?
How quickly you can access the money on an account of the value of an asset without a penalty or fee
What is Liquidity?