3.4 Banking and Saving

Why is it important to save money? Select ALL correct answers.

This bank account allows you to deposit money at a bank for safekeeping and access it at any time.

This is the cost of using some other person's or bank's money.

This bank account allows you to withdraw money, pay a bill, or make purchases easily.

This is a written request to your bank to take money from your account and pay it to someone else.

The action enters money into an account, and is also known as a credit on a bank statement.

This action removes money from an account, either at the bank or an ATM, and is also known as a debit on a bank statement.

This occurs if you try to take more money out of your account than you have available.