WorksheetsUnderstanding Banking
Total questions: 28
Worksheet time: 10mins
Why have a bank account?
protects your money
files your tax return
Why have a bank account?
get a driver's license
connect to financial services
Reconcile your bank account (match up transactions)
regularly
once in a while
Total amount of money in your account
balance
transaction
A feature offered by banks to keep your account from overdrafting
debit card
overdraft protection
Not enough money in the account to cover the charge
insufficient funds
unit price
ATMs give you cash in multiples of
$5
$10
$20
Out of network ATMs charge you fees.
true
false
Before depositing a check, you must sign the back or _ it.
endorse
serve
After depositing a check, it can take up to a _ to post in your account.
week
month
A check may _ if there isn't enough money in their account to cover it.
bounce
roll
Matching the bank's transaction record to your records
reconcile
invest
cost of borrowing money
finances
interest %
interest that earns the MOST money
simple
compound
Banks prefer _ interest %
simple
compound
Your interest rate is a _ of the amount borrowed
percentage
profit
Credit Unions are
for profit
non profit
Banks are
for profit
non profit
Credit Unions have __ than banks.
taller buildings
lower fees
Credit Unions have better __ than banks.
interest rates
technology
Banks have branches in _ locations.
more
less
Credit card is money you _ with interest %
deliver
borrow
Debit card uses money from _ account.
your
VISA's
The FDIC insures money up to
$100,000
$250,000
$500,000
The _ was created because of the bank failures causing the Great Depression.
FBI
FDIC
faster way to deposit money
check
direct deposit
Uses money from your checking account
debit card
credit card
Must be paid back with interest %
debit card
credit card
