Everfi Money Moves Part 1 & 2

Front

What makes savings accounts safe?

Back

Savings accounts are considered safe because they are insured by the FDIC (Federal Deposit Insurance Corporation) or NCUA (National Credit Union Administration).

Front

What service helps you track your money in a financial institution?

Back

Account balances help you track your money by showing the current amount available in your account.

Front

Why might you not be able to use a check you just deposited?

Back

You might not be able to use a check you just deposited because the deposit is still pending.

Front

How can online banking help you meet savings goals?

Back

Using online and mobile banking apps to schedule automatic transfers into your savings account can help you meet your savings goals.

Front

Which method is NOT used to check your account balance?

Back

Contacting the FDIC/NCUA is not a method to check your account balance.

Front

What is the role of the FDIC?

Back

The FDIC insures deposits at banks, protecting depositors' money in case of bank failure.

Front

What is a checking account?

Back

A checking account is a type of bank account that allows for numerous withdrawals and deposits, typically used for daily transactions.

Front

What is the purpose of automatic transfers?

Back

Automatic transfers are used to regularly move money from one account to another, often to help with savings or bill payments.

Front

What is an account balance?

Back

An account balance is the amount of money currently available in a financial account.

Front

What does it mean for a deposit to be pending?

Back

A pending deposit means that the funds have been submitted but are not yet available for withdrawal.