PBMF 19.1 Personal Banking

Personal Banking

Credit Cards

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Multiple Choice

A financial institution is an organization that provides services related to _____.

• clothing

• money

• property

• insurance

Multiple Choice

What agency was created by the federal government to protect bank customers by insuring their deposits?

• National Reserve Association (NRA)

• Federal Deposit Insurance Corporation (FDIC)

• United States Treasury Department
• Federal Reserve System (FRS)

The FDIC insures accounts at national banks and other banks that choose to enroll in the program.

​

• ​A bank account that allows the owner to make deposits, write checks, and withdraw money.

• Also called demand deposit accounts because cash can be withdrawn or checks written on demand.

​

Checking Account

Drag and Drop

A check is a ​

Placeholder

for the bank to pay a ​

Placeholder

amount to the party to whom the check is written.

Drag these tiles and drop them in the correct blank above

written order

specific

random

cash deposit

• minimum balance requirements

• withdrawal limitations

• penalties for overdrafts

• ​maintenance fee

• charges for ATM use

• low-balance penalties

• check-writing fees

• check-printing charges

​Checking Account:
Restrictions & Penalties

• A card that allows the user to electronically access funds in his or her account at an ATM or to pay for goods and services from a business

• Same result as writing a check

​Debit Cards

Multiple Choice

Debit cards can also be used for credit purchases.

• True

• False

Multiple Select

At an ATM, a debit card can be used to _____.

(Choose all correct options)

• make withdrawals

• make deposits

• transfer money from one account to another

• pay a bill