Financial Literacy Banking

Front

What does a bank do for you?

Back

Keep your money safe while allowing you access to it

Front

How does a bank make money?

Back

Charge interest on loans

Front

Putting money into a bank is called

Back

deposit

Front

A bank can charge a fee for: withdrawing money in certain ways, overdrafts, filing loan papers for a mortgage.

Back

All of the above

Front

A mortgage is a loan for

Back

real estate

Front

If you write a check for $100 but you only have $50 in your account...

Back

no one will care until the check comes to the bank, you have just overdrafted your account, you need to make a deposit before the check comes to the bank, all of the above

Front

matching your checkbook balance with the bank's balance is called:

Back

reconciliation

Front

A bank charges fees for overdrafts. How can they make the most money on these fees?

Back

Process the biggest checks first in a daily batch

Front

A bank is a public service

Back

false

Front

A bank can charge any interest rates they want, maximizing profit

Back

false