Chapter 8 Flashcard Review

Front

A bank can help you _______ your money and keep it______.

Back

Manage; safe

Front

Some of the services banks offer include ...

Back

Mortgages, check writing, and debit cards

Front

A savings account is for?

Back

Long-term savings goals

Front

An easy way to avoid ending up with errors in your checking account is to simply . . .

Back

Monitor your account at least twice a week

Front

The Federal Deposit Insurance Corporation (FDIC) and National Credit Union Administration (NCUA) keep your money in the bank insured up to per account.

Back

$250,000

Front

Credit Unions differ from retail banks in that they typically require membership based on specific criteria.

Back

True

Front

Your emergency fund should go in your checking account, NOT a money market account.

Back

False

Front

If you see "pending" on an account charge, that means .

Back

It hasn't been fully processed yet

Front

Distrust, unemployment, and bank fees are a few excuses people give for . . .

Back

Not having a savings or checking account

Front

If you prefer great customer service and lower fees ...

Back

A small, local bank is often a great option