Banking

to monitor or track a change

an account that enables its holder to easily transfer money to others*Access money directly by use of a debit card*Make deposits to and withdrawals from the account

a business that performs banking services but is owned by its members They are nonprofit.

a bank that provides services to individuals and businesses

an interest-paying account in which money is placed for extended periods

A ________ bank specializes in providing banking services to large businesses. • Smaller ________banks also engage in retail banking. • Larger ________ banks sometimes specialize in investments. (same word)

This association specializes in helping homeowners. • These banks provide loans for buying and building homes.

Savings accounts Help users earn interest on money kept in the account

Initial deposit $1000

Annual interest rate 1%

Year-end balance ________

• Holds money for a set amount of time • Earns a higher rate of interest than savings accounts

• Requires a high minimum balance • Earns a higher rate of interest than savings accounts