Intro to Depository Institutions Vocabulary Quiz

Created by dcoker

Question or Hint Answer or Word
  1. A machine that allows depository institution customers to complete certain transactions from the machine without the need for human assistance Automatic Teller Machine
  2. Accounts offered by depository institutions whose main purpose is to help people manage their money Savings Tools
  3. An account that allows quick access to funds for transactions Checking Account
  4. An account at a depository institution that is designed to hold money not spent on current consumption Savings Account
  5. For‐profit depository businesses that offer financial services to both consumers and other businesses Commercial Bank
  6. Allows customers to complete certain transactions from a secured website by using a username and password from any place in the world with Internet access Online Banking
  7. Payment transactions that can be completed with no physical connection between the payment device and the physical point of sale (POS) terminal or store clerk Contactless Payment
  8. Apps that many depository institutions have developed that allow online banking access from devices such as cell phones, tablets and other mobile devices Mobile Banking
  9. Depository institutions that offer many banking services and are owned by their customers Credit Union
  10. The percentage rate used to calculate interest Interest Rate
  11. A plastic card that is electronically connected to the cardholder’s depository institution account Debit Card
  12. The price paid for using someone else’s money Interest
  13. Businesses that provide financial services Depository Institutions

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