Depository Institutions
What is a debit card.
A plastic card that is connected to your immediate funds.
What is a saving accounts.
An account for saving money and isn,t intended for daily spending.
What is Mobile Banking?
Apps that allow banking access on mobile devices.
Where am I from?
North Carolina
Is bank of America a credit union or a commercial bank.
commercial bank.
Which savings tool accrues interest for you?
Savings Account
What are some of the main uses for ATMs.
Checking account balance, money deposit, withdraws and money transfer.
What's my full name?
Matthew Adam Smith
What is the amount of money the Federal deposit insurance corporation insures.
250,000 per year.
what are the two most common accounts.
Checking and Saving accounts.
What does ATM stand for.
Automated Teller Machine.
Charge for using an ATM that belongs to another depository institution.
ATM fee.
What football position did I go to college to play?
Quarterback
What are 2 differences between a credit union and a commercial Bank.
Commercial Bank
-For-profit.
-Open to anyone who wants to utilize a depository institution.
-Offer numerous financial services.
-Usually the largest depository institutions.
Credit Union
-Not-for-profit – owned by members.
-Have membership qualifications – members must share a “common bond”.
-Offer many services but usually not as many as a bank.
-Are often able to pay higher interest rates and charge lower fees.
What are some uses for credit.
Credit can help you get loans, get a credit card and purchase cars and houses.
What is the difference between a debit card and a credit card.
A debit card uses money from your linked bank account, while a credit card uses a line of credit you borrow and must repay.
What is the minimum balance fee?
Some accounts have a minimum account balance and a fee is charged if you go below the account balance.
What's my daughter's name?
Charlotte/Charlie
What's the difference between NCUA & FDIC insurance?
NCUA is for Credit Unions & FDIC is for commercial banks
Name 2 types of special needs payment instruments
Traveler's checks, certified checks, cashier checks, and money orders.
Name 3 things you can do with online or mobile banking.
1. Transfer money
2. Apply for credit
3. Pay bills
4. Access account information.
What is the overdraft fee?
Being charged for withdrawing more money from your account that is available.
What sport was I recruited to play in college? (Other than football)
Track