Banking Today

What ways have financial institutions NOT kept up with technology?

• ATM

• direct deposit

• automatic debits

• bank branches in all cities

What is an example of a finance company?

• Chase Bank
• Visa credit card
• Post office credit union
• Whitney savings and loan association

What is the purpose of FDIC?

• insure people's bank accounts
• insure a persons loan
• allows high credit limits
• watches a persons credit score

What do you buy with a mortgage?

• house
• car
• business
• computer

Where do debit cards gain their money?

• checking accounts

• credit limits through loans

• stock market

• APR

How much does FDIC protect a person up to?

• 100,000
• 150,000
• 200,000
• 250,000

What is NSF?

• interest
• bank account insurance
• automatic withdrawls from accounts
• not enough money in account

What will NOT happen if your account is declared NSF?

• fees added on
• double charges, after 30 days
• businesses can charge a fee
• can be arrested

What is NOT a financial institution?

• FDIC

• commercial bank

• credit union

• mutual savings bank

What is a safe way for people to store money and have easy access to it through checks and debit cards?

• checking account

• Money orders

• Cashier/ Certified check

• Virtual Wallet