Banking

Front

People who are unbanked are most likely to...

Back

Incur lots of fees at Check Cashers to access their money

Front

You can access the money in your checking account by... Using the cash grandma gave you to pay at the grocery store, Paying bills with a pre-paid credit card, Using a debit card to make a purchase, Using your credit card to Venmo a friend

Back

Using a debit card to make a purchase

Front

Overdraft protection...

Back

can keep you from overdrawing but charges a fee.

Front

Which of the following fee(s) may banks charge you? Online Statement Fee, Monthly Maintenance Fee, In-Network ATM Fee, Sufficient Funds Fee

Back

Monthly Maintenance Fee

Front

What is the benefit of direct deposit?

Back

You don't have to spend time and energy depositing a check

Front

Which of the following is TRUE about banks and credit unions? Banks are for-profit; credit unions are not-for-profit, Banks are not taxed; credit unions are taxed, Banks are insured by the NCUA; credit unions by the FDIC, There are more local credit unions than there are banks

Back

Banks are for-profit; credit unions are not-for-profit

Front

Your friend wants to open up a checking account. Which of the following items is NOT necessary to do so? Proof of address, Identification, Social Security Number

Back

His (or his parents') previous year's tax return

Front

FDIC and NCUA will insure your money up to....

Back

$250,000

Front

Which of the following is TRUE of prepaid credit cards?
Options:
They are issued by your bank & connect to your checking account,
There are usually fees associated with them,
Prepaid cards can help build your credit,
They are free to anyone who wants one

Back

There are usually fees associated with them

Front

A checking account is best used for...

Back

Storing money to spend each month