Bank Account Types

Question 1

This account works similarly to a checking account however your transactions are limited

Accepted Answer

Money-Market

Question 2

Typical minimum amount to open a CD account.

Accepted Answer

From $500

Question 3

This type of account can only have six transfers per month.

Accepted Answer

Savings

Question 4

This type of banking account has penalties associated with it if you withdraw your money early.

Accepted Answer

CD

Question 5

This type of account is usually connected to a specific stock market investment.

Accepted Answer

Money Market

Question 6

You need this to open a personal bank account.

Accepted Answer

Your social security number

Question 7

This type of account typically has an unlimited amount of transactions allowed.

Accepted Answer

Checking

Question 8

These types of bank accounts you can typically write checks against.

Accepted Answer

Checking and CDs

Question 9

The purpose of opening a CD account is typically.

Accepted Answer

For long-term savings

Question 10

This type of account combines the features of a checking with a savings account.

Accepted Answer

Dividend / Interest

Question 11

You need this to open a business bank account.

Accepted Answer

EIN (Employer Identification Number)

Question 12

This type of banking account is used for day-to-day transactions.

Accepted Answer

Checking

Question 13

For bank accounts CDs stand for.

Accepted Answer

Certificates of Deposit

Question 14

Typically vacation and holiday accounts are this type of account.

Accepted Answer

Savings

Questions 14