Extra Credit Banking Quiz

Money set aside for unanticipated expenses or loss of income

• Living Paycheck To Paycheck

• Emergency Fund

• Interest

• Principal

A fee that is charged if the number of withdrawals from your savings account exceeds the federal limit, which is six free withdrawals and transfers per month

• Minimum Balance

• Overdraft Fee

• Person-to-person Payment

• Transaction Fee

An electronic communication that moves funds from an account in one bank to an account in a different bank instantly. It is a useful option to send money securely when the two parties are not in the same geographic location.

• Digital Wallet

• Wire Transfer

• Check Register

• Debit Card

An individual retirement account that allows a person to set aside after-tax income up to a specified amount each year

• Person-to-person Payment

• Unit Price

• Debit Card

• Roth IRA

A check that has been written but has not yet been cashed or deposited by the payee

• Voided Check

• Canceled Check

• Interest

• Outstanding Check

A form you fill out to credit money to your account when you make a deposit

• Deposit Slip

• Credit Card

• Debit Card

• Pay Yourself First

A type of savings account, typically offering higher interest rates, that is managed entirely online with no physical bank branch

• Online Savings Account

• Deposit Slip

• Overdraft Fee

• Credit Card

The government agency that insures customer deposits if a bank fails up to $250,000 per individual depositor

• National Credit Union Administration (NCUA)

• Federal Deposit Insurance Corporation (FDIC)

• Direct deposit

• Deposit slip

A digital payment method that allows you to transfer funds from your bank account to that of another person

• Unit Price

• Transaction Fee

• Debit Card

• Person-to-Person Payment

To compare your bank's monthly account statement with your own records of activity for the same account

• Reconcile

• Overdraft Fee

• Endorse

• Balance