Checking Account
What are 2 documents needed to open a checking account?
A form of government-issued photo ID, such as:
what is a loan?
a thing that is borrowed, especially a sum of money that is expected to be paid back with interest
What is a checking account?
Financial tool that offers everyday access to your funds and provides an effective way to check your budget.
what can you use to pay for a car?
cash
leasing
financing
what are the 3 main points to consider before opening a checking account?
1. Convenience
2. Security
3. Flexibility
what is direct financing?
The raising of funds without using an intermediary. For example, a firm may decide to save an underwriter's fee by offering new securities directly to investors.
Name 5 fees you should be aware of before opening a checking account?
-Monthly Maintenace fee -stop payment fees
-Min. balance requirement -teller fees -Overdraft fees -paper statement fees -atm fees -fees on a dormant account -wire transfers -returned item fees -replacing lost or stolen card -bounced-check fees -balance inquiry fees
what are 3 key points of buying a car?
1. Know your budget
2. Gather documents
3. Compare Offers
What is the name of the company that make sure your deposits are insured?
Federal Deposit Insurance Corporation (aka. FDIC)
What is the 20/4/10 rule?