Show:
Banking Terms
All About Interest
Types of Accounts
Everyday Banking
Banking need to know
100
What is an automated teller machine commonly known as?
ATM
100
What types of accounts earn you interest?
Savings accounts, money market accounts and Certificates of Deposit( CD's)
100
What should you keep when you use your debit?
Receipts
100
How long can you have a bank account?
For The rest of your life.
200
What is a Balance?
The money in your accounts
200
When you get a loan you have to pay what on the money that is borrowed?
Interest
200
If you take money from your account frequently, what account fits you?
Checking accounts
200
What are the numbers called to use your Debit card?
Pin (Personal Identifation 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 a Debit Card?
A card that accesses your checking account
300
What is interest on a savings account commonly called?
Dividends.
300
What kind of accounts can you lock your money in to, to earn better interest?
Certificate of deposit ( CD's)
300
What are 3 out of the 5 ways you can access your account?
Acceptable answers: Online banking, moblie banking, Teller 24, Branches, ATM and Shared Branches.
300
How old do you have to be to have get a Debit Card for your bank account at Elevations?
13 Years old.
400
What is a 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.
You earn Interest on a savings account, You Pay Interest for a loan.
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
There is a government regulation of how many times you can pull out of your savings account.
True: Regulation D. You are only allowed to transfer out of your savings account electronically 6 times a month.
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?
Mountain Lion "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.