7th Depository Inst. Word Scramble
|
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Term | Definition |
Depository Institution | Business that offers and sells financial services |
Credit Union | Depository Institution owned by its members |
Commercial Bank | Depository Institution that offers services to both consumers and businesses. |
Checking Account | Device that allows deposits and withdrawals using checks, debit cards, and ATMs. |
Checks | Legal documents that function like cash. |
Debit card | Plastic card connected to your checking account. |
Personal Identification Number (PIN) | Authorization to access accounts. |
Automated Teller Machine (ATM) | Unattended access to account using account card and PIN |
Savings tools | Accounts storing money for emergencies or major purchases. |
Interest | Money either gained or lost when accessing services offered by a depository institution. |
Savings account | Most basic savings tool with the lowest interest. |
Money Market Account | Savings tool requiring larger deposit and earning more interest. |
Certificate of deposit | Savings tool earning higher interest, but requiring a specified time obligation. |
Interest rate | Percentage used annually to determine amount gained or lost on investment. |
Created by:
mnunn
Popular Finance sets