Banking Basics

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What is income?

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Income is money paid to you for working, running a business, or selling property.

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Which of the following is not a form of income?

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Taking someone's lunch money is not a legitimate form of income.

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What is a debit?

Back

A debit is when money is withdrawn from a bank account.

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What is a credit union?

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A credit union is a not-for-profit, community-based financial institution that requires eligibility to join.

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What is mobile banking?

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Mobile banking is designed for banking customers who have access to a smartphone or tablet.

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What is online banking?

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Online banking allows customers to conduct financial transactions via the internet.

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What is an ATM?

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An ATM (Automated Teller Machine) allows customers to withdraw cash and perform other banking transactions.

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What is a debit card?

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A debit card is a payment card that deducts money directly from a checking account.

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What is a credit?

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A credit is an amount added to a bank account, typically from deposits or interest.

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What is a bank?

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A bank is a financial institution that accepts deposits from the public and provides loans.