Argylls PF 7 Banking Word Scramble
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Term | Definition |
ATM | Automated Teller Machine |
Year Banking in America began | 1791 |
A deposit in savings | time deposit |
A deposit in checking | demand deposit |
CD | Certificate of Deposit |
Types of Financial Services | Savings, Payment, Borrowing, Financial Planning |
Automatic deposit of net pay to an employee's account | Direct Deposit |
A cash card that allows you to withdraw money or pay for purchases from your account | Debit card |
PIN | Personal Identification Number |
FDIC | Federal Deposit Insurance Corporation |
The year the FDIC started | 1933 |
FDIC insures your account up to | $100,000 |
SAIF | Savings Association Insurance Fund |
A for profit financial institution that offers a full range of financial services | Commerical bank |
These two financial institutions specialize in mortgage loans | Savings and Loan Associations and Mutual Savings Banks |
A nonprofit financial institution owned by members | Credit Union |
A place in a financial institution to store small valuables | Safe-deposit box |
Three non-deposit financial institutions | Life Insurance Co., Investment Co., Finance Company |
This company deals with mutual funds | Investment Company |
This financial company makes high-interest loans to people with poor credit ratings | Finance Company |
They make loans based on the value of a tangible possessions. | Pawnshop |
CCO | Check Cashing Outlet |
Lease items such as furniture | Rent-to-Own Center |
Credit Unions accounts are called this | Share accounts |
Three types of savings accounts | Regular, CD's, Money Market, |
The amount you would pay for a $100 Series EE Savings Bond | $50 |
The date a bond reaches face value | Maturity Date |
Yield | Rate of Return |
The process where you earn interest upon interest | Compounding |
APY | Annual Percentage Yield |
How to evaluate savings plans.(7) | Rate of Return, Inflation, Taxes, Liquidity, Safety, Restriction, Fees |
Insurance for Credit Union accounts | NCUA |
An automatic loan made to an account if the balance does not cover the check | Overdraft Protection |
A checking account with two or more people | Joint Account |
The party who receives a check | Payee |
The person who writes a check | Drawer |
The financial institution a check is drawn on | Drawee |
A request to not cash a check | stop payment order |
An endorsement with just your name | Blank |
An endorsement which states "For Deposit Only" | Restrictive |
An endorement use to transfer a check which states "Pay to the order of" | Special |
Always write your checks in this | Ink |
Bringing your bank checking account into agreement with your bank statement | Bank reconciliation |
Created by:
mgargylls
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