Payment methods

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What is a Store Value Card?

Back

A payment method where spending is limited to the amount preloaded on the card.

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What is a Scholarship?

Back

A financial award given to students for academic or athletic achievements.

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What is a Credit Card?

Back

A small plastic card issued by a financial company that allows you to borrow money to make purchases, which you will repay later.

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What is a disadvantage of using a credit card?

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You can spend more than you have, leading to debt.

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What is Cash?

Back

Physical money in the form of coins and banknotes that represents a person's own funds.

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What is a Debit Card?

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A card that allows you to spend money by drawing on funds you have deposited at the bank.

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What is Online Banking?

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A method of banking that allows customers to conduct financial transactions via the internet.

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What is a Student Loan?

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A type of loan specifically designed to help students pay for their education.

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What is Compound Interest?

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Interest calculated on the initial principal and also on the accumulated interest from previous periods.

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What is a Financial Institution?

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An organization that provides financial services, such as banks, credit unions, and insurance companies.