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What is a bank primarily in the business of doing?

• Making money for its shareholders

• Providing free services

• Offering high-interest loans

• Storing gold

How do credit unions differ from banks?

• They are in the business of making money for shareholders

• They typically have lower interest rates for loans

• They offer more locations

• They charge higher fees

What is a checking account used for?

• Keeping money to save

• Keeping money to spend

• Investing in stocks

• Buying real estate

What is a savings account used for?

• Keeping money to save

• Keeping money to spend

• Investing in stocks

• Buying real estate

What is one benefit of putting money in a bank or credit union?

• You can avoid all fees.

• You don’t have to worry about losing cash.

• You can spend more than you have.

• You can avoid paying taxes.

What is an overdraft fee?

• A reward for saving money

• A penalty charge for spending more than you have in your account

• A fee for using a credit card

• A fee for opening a new account

What is the minimum balance requirement?

• The maximum amount you can withdraw

• The least amount you need to keep in your account to avoid paying extra fees

• The amount you need to open an account

• The amount you need to earn interest

What is a risk associated with online banking?

• Guaranteed higher interest rates

• Bank fraud and scams

• Free access to all banking services

• Unlimited withdrawals

Why should you never give your banking information over the phone, email, or text?

• It is illegal

• It can lead to bank fraud and scams

• It will increase your account balance

• It will improve your credit score

What is one thing you can do with a bank account that helps manage your money?

• Buy stocks automatically

• Set up automatic payment for expenses

• Get free insurance

• Avoid all taxes