Shared Flashcard Set

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CONSUMERS
All the questions from the tests.
50
Economics
12th Grade
01/09/2010

Additional Economics Flashcards

 


 

Cards

Term
Credit Union
Definition
Is composed of members with a common bond such as working for the same employer or belonging to a labor union
Term
Charter
Definition
Legitimate financial institutions have these; a governmental document that grants them the right to operate
Term
2 months
Definition
if you do not report the loss of an ATM card within this time you may be liable for all charges made on the card
Term
Statement
Definition
Shows an opening balance, a list of financial transactions conducted during the month, service charges, and the closing balance
Term
Forged
Definition
If you checkbook is lost or stolen, some of you checks could be illegally used
Term
Money Order
Definition
Domestic and International are two types of this.
Term
Personal
Definition
Some individuals and businesses won't accept these types of checks because of the possibility of insufficient funds
Term
Savings
Definition
The bank might automatically transfer money from this to checking to cover a check for which the checking account has insufficient funds
Term
Restrictive endorsement
Definition
limits the use of a check, for example to deposit only.
Term
18 years old
Definition
age you have to be to open a checking account
Term
Cash
Definition
when you use a traveler's check you will be given this as change
Term
Personalized
Definition
you can have checks like this
Term
When the bank lends some of your money to other people, those borrowers pay
Definition
Interest
Term
Internet
Definition
Online banking requires a computer with this
Term
Prepaid cards
Definition
are also called store value cards
Term
Savings
Definition
an account that the bank pays you interest for letting it use your money
Term
Travelers
Definition
type of check from a financial institution that is in specific dollar amounts such as $25, $50, $100
Term
You can use your ATM card at any tell machine with the same one of these
Definition
Network Logo
Term
Cashiers
Definition
a check that often require for very large payments such as the down payment on a home
Term
Deposit Access Cards
Definition
another name for debit cards (also called check cards)
Term
Direct Deposit
Definition
An automated service in which payments such as you paycheck or tax refund can be electronically transferred into the account you choose
Term
Canceled Checks
Definition
Provides legal proof of payment
Term
Reconcile
Definition
to bring the bank statement and you own record of transactions into agreement
Term
Overdraft
Definition
lack of sufficient funds to cover the full amounts of a check
Term
Canceled Check
Definition
Term
Endorsement
Definition
Term
Payee
Definition
Term
Minimum Balance
Definition
Term
Traveler's Check
Definition
Term
Prepaid Card
Definition
Term
Certified CHeck
Definition
Term
Cashier's Check
Definition
Term
Wire Transfer
Definition
Term
Money Order
Definition
Term
Internet Only Banking
Definition
Term
Credit Union
Definition
Term
Commercial Bank
Definition
Term
FDIC
Definition
Term
Mutual Savings Bank
Definition
Term
Interest
Definition
Term
Debit Card
Definition
Term
If your ATM card is lost you should
Definition
Term
Maintain a Minimum Balance
Definition
Term
Writing a check is more secure than paying with cash because?
Definition
Term
A PIN code is concerned with...
Definition
Term
Debit Card Advances
Definition
Term
Void the check if you
Definition
Term
EFT refers to
Definition
Term
Point of sales transaction
Definition
Term
Check
Definition
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