Banking and Savings Review

What does the FDIC do?

• Pays you interest in your checking account

• Protects your money should the bank be robbed

• Loan you money based on your credit score

• Takes your money and doesn't give it back

A machine that replaces a bank teller for simple transactions or transactions after hours is called?

• ATM

• Bank Box

• Teller Window

• RTFM

A written order to the bank to pay the stated amount, can be made out to "cash" if needed is called?

• Money Order

• Deposit

• Check

• Register

Money added to a bank account is called?

• Tax

• Fee

• Withdraw

• Deposit

What type of card allows you to withdraw money you have in your bank account?

• Credit Card

• Debit Card

• Bank Card

• ID Card

Demand deposit account that may have some restrictions on withdrawing, but gains a small amount of interest is called?

• Checking Account

• Joint Account

• Savings Account

• Retirement Account

If you write a check and your account does not have enough to cover it, this is called?

• Voided Check

• Bounced Check

• Cashier's Check

• Returned Check

The central bank of the United States that provides financial services to commercial banks and the government?

• Bank of NY

• The Treasurer

• The Federal Reserve

• The U.S. Mint

If you withdraw more money than you have in your checking account you might be charged

• An underdraft fee
• an overdraft fee
• a check cashing fee
• with a small loan fee

Used to balance your account after each purchase

• Money Order

• Check Register

• Overdraft

• Traveler's Check