Money and Banking

Front

A key difference between commercial banks and credit unions is that

Back

Commercial banks are ‘for‐profit’ and credit unions are ‘not‐for‐profit’.

Front

Common fees that may be charged by a depository institution include all EXCEPT: Overdraft fee, ATM fee, Minimum Balance fee

Back

Late fee

Front

A machine that allows individuals to complete certain transactions from the machine without human assistance

Back

ATM

Front

An account that allows quick access to funds for transactions

Back

checking account

Front

Depository institution owned by and operated for the benefit of its customers

Back

Credit Union

Front

A plastic card that can only be used at an ATM for banking transactions and not at point of sale

Back

ATM card

Front

A plastic card that can be used at an ATM or at a point of sale "POS" that immediately takes money from your depository account

Back

Debit Card

Front

Banking that uses apps on devices such as smartphones, tablets, etc.

Back

mobile

Front

An account at a depository institution where you keep money that is easy to access, but not used for everyday consumption

Back

savings

Front

An account at a depository institution where money is kept for easy access and for everyday use

Back

checking