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Banking Basics Flashcards | StudBud

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Banking Basics

11 terms·StudBud Administration·35 plays

Financial literacy

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Questions 11

Answers

1
What is the minimum age that someone can open a bank account?
18 years old
16 years old
15 years old
at any age
2
Why have good credit?
financial reputation
cashing service
avoid overdraft fees
mobile apps
3
What does ATM stand for?
Automated Teller Machine
Access To Money
Access To Mobile
Automatic Tracking Machine
4
What is one requirement to work as a bank teller?
college degree
banking experience
cash- handling experience
security training
5
Why open a checking account?
incur interest
safety and security
establish credit
write checks
6
What is an overdraft?
interest earned
negative - balance
protection fee
a rough draft
7
How is using your card as credit is safer than debit?
credit uses a pin number
debit can be stolen
debit can be forged
credit uses a signature
8
Withdrawal is equated with...
debit
credit
deposit
balance
9
Which is safest to use?
credit
debit
both, credit and debit
neither credit nor debit
10
How will banks accept mutilated money?
taped together
new bills only
not acceptable
matching serial numbers
11
What is one risk factor in keeping money at home?
online banking
higher interest
burglary
mutilated money