electronic banking

A plastic card that looks like a credit card but is electronically connected to the card holders depository institution

• debit card

• credit card

• loan

• cash

This allows a person to write a check even though there is not enough money in the account in hopes of depositing the money before the check is processed.

• debit card

• linked to mom's account

• over fee

• float time

This is a personal identification number required for debit cards to be used

• CVV

• PIN

• point of sale

• you don't need one

This allows the consumer to call a company with instructions to pay certain bills or electronically transfer funds between accounts

• ATM

• computer

• pay by phone system

• going to the bank

Allows paychecks and benefit checks to be directly deposited into a specified depository institution account

• direct deposit

• ATM

• going to the bank

• taking a photo with your phone

This authorizes bills to be paid by a specific depository institution account

• writing a check

• online banking

• direct payment

• point of sale

Al electronic computer terminal located at the checkout of a store, allowing the consumer to use their debit card to make a purchase

• cashier

• point of sale terminal

• grab your stuff and RUN!!!

• go to jail

True of False: ATMs can only be found at a bank location

• true

• false

True of False: E-banking allows individuals to deposit money, withdraw money or pay bills

• true

• false

True of False: A drawback to electronic banking is that it may only be done using the world wide web?

• true

• false