Banking Services Quiz

What is the main purpose of a savings account?

• Withdraw money easily

• Pay bills

• Save money and earn interest

• Invest in stocks

Which type of bank account allows you to write checks?

• Investment account

• Savings account

• Checking account

• Credit card account

What is the process of depositing money into a bank account called?

• withdrawal

• transfer

• loan

• deposit

What is the process of withdrawing money from a bank account called?

• balance inquiry

• withdrawal

• transfer

• deposit

What does ATM stand for?

• Automated Teller Machine

• Automated Transaction Machine

• Advanced Teller Machine

• Automatic Teller Machine

What is the maximum amount of money you can withdraw from an ATM in a day?

• $1,000 to $2,000

• $500 to $1,500

• $200 to $1,000

• $100 to $500

What is the main advantage of online banking?

• Higher interest rates

• Convenience

• Limited access to funds

• Higher fees

What is the main advantage of using a credit card?

• Ability to build credit history

• Ability to withdraw cash from ATMs

• Ability to make purchases now and pay for them later

• Ability to earn rewards for purchases

What is the main advantage of using a debit card?

• Spending only the money you have in your bank account.

• Having a higher spending limit than a credit card.

• Borrowing money from the bank.

• Earning rewards for every purchase.

What is the main difference between a credit card and a debit card?

• A credit card and a debit card are the same thing.

• A credit card is used for online purchases, while a debit card is used for in-person purchases.

• A credit card has a higher interest rate than a debit card.

• A credit card allows you to borrow money, while a debit card uses funds directly from your bank account.