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Argyllz2

QuestionAnswer
Standard of payment Money
coins, currency, checks, and debit cards Monetary System
firm that manages money Financial Institution
record of money in a bank Bank Account
money put into a bank account Deposit
money taken out of bank account Withdrawal
rate banks pay for keeping your money Interest
EFT Electronic Funds Transfer
electronic transfer of payment directly to bank Direct Deposit
security against a loan Collateral
agreement to take property if the loan is not paid back Mortgage
secure box in a bank's vault Safe-Deposit Box
offer entire range of banking services Commercial Banks
financial institutions that hold customers' funds in interest-bearing accounts Savings and Loan Associations
non-profit banks set up by organizations for employees to use Credit Unions
provide loans for buying a home/business Mortgage Companies
offer short term loans with high interest rates Finance Companies
provide protection against fire/theft Insurance Companies
sells stocks and bonds Brokerage Firms
"The Fed" Federal Reserve System
funds set aside for emergencies Reserves
laugh out loud LOL
funds transferred from one bank to another when someone writes or deposits a check Clearing Checks
another name for Commercial Banks Full Service Banks
loan granted to someone to pay for personal items Individual Loan
the way that banks generate profit Lending Money
Created by: Psycho C
Popular Finance sets

 

 



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