Banks and Banking Accounts

Which of these services is not offered by a bank account? (a)  

• Overdrafts
• Direct Debits
• Standing Orders
• National Insurance

Which of these is a good use for a bank account?

• To keep your money secret from your parents

• To apply for food rations

• It means your salary can be paid into it

A (a)   is a type of financial institution that is owned by its members

• local bank
• owner's union
• credit union
• owner's bank

A financial institution is a business or organization that provides money-related services. (a)  

• True
• False

ATM stands for: (a)  

• automated teller machine
• automated taker of money
• automated talking machine
• amazing taco maker

When cashing a check, you should first endorse it. (a)  

• True
• False

Overdraw means to write a check for more money than is in your account. (a)  

• True
• False

A (a)   is a card issued by a bank that can be used to make purchases, pay bills, and withdraw cash from ATMs.

An EFT is the deposit or withdrawal of funds using a computer network. What is EFT? (a)  

• electromagnetic funds transfer
• easy funds transfer
• early funds transfer
• electronic funds transfer

A (a)   is responsible for accurately processing routine transactions at a bank.

• bank teller
• bank manager
• loan officer
• investment counselor