To trade goods or services directly for other goods or services. Bartering can be difficult, trying to find someone who wants what you have and they have what you want.

(a)  

It functions as a standard of value.

(a)  

Used for storing money in a short term. Banks charge a fee.

(a)  

Used for storing money over a longer period of time. Money earns interest.

(a)  

The rate that the bank pays customers for keeping their money

(a)  

Use checks and electronic fund transfers to move money.

(a)  

Allow money to be transferred from one bank to another through an network of computers.

(a)  

It is the electronic transfer of a payment directly from the payer’s bank account to that of the party being paid.

(a)  

It is the primary way for banks to generate profit. Money that you deposit makes it possible for a bank to lend money to others.

(a)  

It is property or goods pledged by a borrower to use as security against a loan if it is not repaid.

(a)  

Banks lends an amount of money to be used at any time for any purpose.

(a)  

Defined as the business activity of accepting and safeguarding money owned by other individuals and entities, and then lending out this money in order to conduct economic activities such as making profit or simply covering operating expenses.

(a)  

It is a financial institution licensed to receive deposits and make loans. Two of the most common types of banks are commercial/retail and investment banks.

(a)  

It is a specific bank account against which checks can be drawn by the account depositor.

(a)  

Checking account is also called a (a)   account used to pay bills, set up an automatic transfer, or use a debit card. Depending on each financial institution, checking accounts can provide features and restrictions.

It is a basic type of bank account that allows you to deposit money, keep it safe, transfer money to checking account, and/or withdraw funds, all while earning interest. It does not allow account holders to write checks or pay bills.

(a)  

It is an account is an interest-bearing account, provides the account holder with limited check writing ability. Thus, offering benefits of a combined saving and checking account.

(a)  

It is a method of banking in which transactions are conducted electronically using a device such as a computer or a cell phone.

(a)  

It allows your employer to deposit your earnings electronically into your bank account which allows you to get to your money faster than having to deposit a paper check and wait for it to clear before you can access available funds.

(a)  

It is used to determine where to route funds to or from for each financial institution. Routing numbers of each financial institution are available to public and point to the institution receiving funds.

(a)  

It is the assigned number to each customer to indicate ownership. Employers use both routing and account numbers to direct deposit payroll earnings in the correct institution and employee's account.

(a)  

It is an electronic banking outlet that allows customers to complete basic transactions without the aid of a branch representative or teller.

(a)  

Here you give permission to your bank or credit union to send the payments to the company.

(a)  

It is where you give your permission to the company to take the payments from your bank account.

(a)