Savings Accounts Doodle Notes

Match the vocabulary with the definition

• Account with higher interest rate

• joint savings account

• Taking money from an account

• Holiday savings account

• An account used by two people

• Deposit

• Adding money to an account

• Withdrawal

• Account for saving money for gifts

• High interest savings account

Sort the information into the correct category.

Groups:

(a) Fees from banks

,

(b) Positive things from savings

,

(c) Negative things from savings

,

(d) Types of savings accounts

• You are limited on the number of times you can withdrawl

• wire transfers

• Over draft

• Your money is protected

• Your money is insured by the federal government

• Joint

• General account cost

• Emergency

• You are paid a low amount of interest

• High interest

• You are paid interest

• You can be charged fees

• Using ATM that is not your bank

• Holliday

Match the following

• ATM Fees

• Fees for having an account

• Overdraft Fees

• Fee for sending money to a different bank

• Account fees

• Fee for using an ATM from a different bank

• Wire transfer

• Fee for taking out more money than you have

Chose all that are true about a savings account. (choose all that apply)

• Used for money that will not be needed soon.

• You Do Not have to pay a fee for taking money out multiple times each month.

• You Do have to pay a fee for taking money out multiple times each month.

• You earn money when you leave your money in your saving account.

• You do not earn money when you leave your money in your saving account.

Choose all statements that are true about storing money in your savings account.

• Your money is more protected at the bank than at your house

• Your money is ;less protected at the bank than at your house

• You earn interest (making money while you sleep)

• You do not earn interest when you put your money in a savings account

When you put money in the bank what does the bank do with it. Choose all that apply

• They loan it out to other people and make interest on that money.

• They earn more interest than they give you on the money you deposit.

• They loan out your money but give you all the interest

• They earn no interest on the money you deposit because it is yours. So only you get interest off of your money.