Financial Literacy

Front

What is a debit card?

Back

A debit card is a payment card that allows you to access your bank account to make purchases or withdraw cash.

Front

True or False: Debit cards are a convenient way to pay because you don’t have to carry cash or take time to write a check.

Back

True

Front

True or False: A debit card is basically an electronic check.

Back

True

Front

Which accounts usually pay interest?

Back

Savings accounts usually pay interest.

Front

What is a transaction register?

Back

A transaction register is a booklet for recording money deposited or withdrawn from an account.

Front

True or False: You should tell everyone your PIN number.

Back

False

Front

What is a PIN number?

Back

A PIN (Personal Identification Number) is a secret number used to access your bank account.

Front

What is the purpose of a savings account?

Back

The purpose of a savings account is to save money while earning interest.

Front

What is interest?

Back

Interest is the money paid by a bank to you for keeping your money in a savings account.

Front

What does it mean to withdraw money?

Back

To withdraw money means to take money out of your bank account.