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A type of bank account that offers easy access to your money for daily transactions
savings account
checking account
deposit
withdrawal
A bank account meant to hold money for future use and typically earns interest
deposit
checking account
savings account
withdrawal
Adding money to a bank account
withdrawal
checking account
deposit
savings account
taking money out of a bank account
checking account
savings account
withdrwal
deposit
protects bank deposits up to $250,000 per account in case the bank fails
credit union
FDIC insurance
mobile deposit
overdraft fee
a not for profit financial institution that offers banking services
mobile deposit
FDIC
overdraft fee
credit union
a fee charged when you spend more money than is in your checking account
FDIC
mobile deposit
credit union
overdraft fee
depositing checks using a smart phone app
FDIC
overdraft fee
mobile deposit
credit union
a method of receiving money directly into a bank account electronically
direct deposit
digital wallet
compound interest
ATM
automated teller machine used to deposit or withdrawal money
compound interest
ATM
digital wallet
direct deposit
interest earned on the initial deposit and any previously earned interest
compound interest
digital wallet
direct deposit
ATM
A smartphone app that stores digital payments
digital wallet
direct deposit
ATM
compound interest
A method of sending money directly from one person to another through an app like Venmo or CashApp.
prepaid card
peer to peer payments
unbanked
overdraft protection
– A service that prevents transactions from being declined when you don't have enough money in your account, often resulting in a fee.
prepaid card
peer to peer payments
unbanked
overdraft protection
Individuals without access to traditional banking services
overdraft protection
peer to peer payments
prepaid card
unbanked
A card that is preloaded with a specific amount of money and can be used for purchases until the balance reaches zero.
prepaid card
unbanked
overdraft protection
peer to peer payments
