Banking Basics 2 plays • 10 players A public kahoot Questions (10) 1 - Quiz What are the two main types of accounts at banks? 30 sec Savings and Current Account Savings Account and RD Account Current Account and RD Account RD Account and FD Account 2 - Quiz Interest is a fee charged... 30 sec by a bank for writing a cheque by a borrower to a lender by a bank for making a deposit by a lender to a borrower 3 - Quiz With an electronic transfer, money is transferred from one account to another without 30 sec recordkeeping overdraft protection any cheque or cash involved service charges 4 - Quiz When your cheque clears the bank, it has been processed and the money transferred out of your account been inspected and determined to be free of forgery been guaranteed for payment by federal deposit insurance is eligible to be cashed at a credit union 30 sec 5 - Quiz Simple interest is 30 sec cannot be paid by credit unions cannont be expressed as a percentage is another name for compound interest is paid only on the original principal 6 - Quiz The current amount of money in your bank account is called the 30 sec registered amount balance deposited amount statement 7 - Quiz You can use a debit card to 30 sec accept a payroll deposit from your employer write a cheque access money in your savings account and transfer it get overdraft protection 8 - Quiz __________is a fee a bank charges you for having an account service charge overdraft fee debit credit 30 sec 9 - Quiz If a savings account pays_____, interest is calculated on the principal and accumulated interest 60 sec simple interest compound interest Interest None of the above 10 - Quiz Why should you keep your money in a bank? You can't lose money Money is protected against theft ability to earn interest All of the Above 30 sec