Intro to Financial Literacy

Debit cards are a convenient way to pay because you don’t have to carry cash or take time to write a check.

• True

• False

You should tell everyone your PIN number.

• True

• False

Debit card purchases are “buy now, pay now” so you must have enough money in your account to cover your purchase.

• True

• False

The bank will record your purchases on your transaction register when you use a debit card.

• True

• False

If you spend more money than is in your account, your bank will charge you a fee.

• True

• False

When using a credit card, you will be charged interest if the balance is not paid within 30 days.

• True

• False

A debit card is basically an electronic check.

• True

• False

Which of the following are financial institutions?

• bank

• museum

• library

• credit union

Which services is a bank likely to offer?

• balance

• savings account

• online banking

• net deposit

Which is required when depositing money into an account?

• include your account number

• swipe your credit card

• thank the teller

• sign your deposit ticket