Warm Up: Online Banking

Front

What is online bill pay?

Back

It's a way of paying your bills directly from your bank account to a company or person using an app or your bank's website.

Front

Which of the following is not an example of online bill pay?

Back

Giving your friend 20 dollars in cash for their birthday.

Front

What is direct deposit?

Back

Your employer has your banking information and sends your paycheck directly to your bank account.

Front

Which of the following is not an advantage of direct deposit?

Back

It makes it easier to have cash on you.

Front

What is the difference between a one-time payment and a recurring payment?

Back

A one-time payment happens once while a recurring payment happens regularly, usually monthly.

Front

What is a recurring payment?

Back

A payment that is made on a regular basis, such as monthly or annually.

Front

What is a one-time payment?

Back

A payment that is made only once and not repeated.

Front

What are the benefits of online banking?

Back

Convenience, 24/7 access, and the ability to manage finances from anywhere.

Front

What is the purpose of a bank's mobile app?

Back

To allow customers to manage their accounts, pay bills, and transfer money using their smartphones.

Front

What is an electronic funds transfer (EFT)?

Back

A digital transfer of money from one bank account to another.