WISE Banking

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What is a deposit?

Back

A deposit is when you put money into a bank account.

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What does the US Treasury Department do?

Back

The US Treasury Department is responsible for managing government revenue and notifying about large deposits.

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Why do employees like direct deposits?

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Employees prefer direct deposits because the money is deposited in their checking account faster.

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What is a Certificate of Deposit (CD)?

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A Certificate of Deposit is a type of savings account that usually pays a higher interest rate.

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What does it mean to make a withdrawal?

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Making a withdrawal means taking money out of a bank account.

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What is a savings account?

Back

A savings account is a bank account that earns interest on the money you save.

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What is the purpose of budgeting?

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Budgeting helps you plan how to spend and save your money.

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What is interest?

Back

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

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What is a checking account?

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A checking account is a bank account that allows you to deposit and withdraw money easily.

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What does it mean to balance an account?

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Balancing an account means making sure your records match the bank's records.