Resource Final Study Guide

Front

What is a form of online banking in which a deposit happens electronically, moving from the payer into the customer's bank account using a web-based transfer of funds?

Back

Direct Deposit

Front

What is a bank loan to a business and is used for items such as payroll, raw materials, and other operating expenses?

Back

Line of Credit

Front

A sequence of digits used to identify the customer's checking account

Back

Account Number

Front

A method of managing customer money used to make purchases and pay bills

Back

Checking account

Front

Cards that have a specific amount of money assigned to them

Back

Prepaid Debit Cards

Front

Penalties charged to the checking account when a customer makes a purchase for more money than is in the checking account

Back

Overdraft fees

Front

Prepaid cards that can have more money assigned to them when all of the money has been spent

Back

Reloadable debit cards

Front

A bank storing money that the customer does not plan using until later

Back

Savings account

Front

Slips of paper used to make purchases or pay bills

Back

Checks

Front

A sequence of digits used to identify the customer's bank

Back

Routing numbers