Questions and Answers
Which type of banks in Canada are Canadian-owned and must accept deposits?
Schedule I banks
What distinguishes Schedule II banks from Schedule I banks in Canada?
They have business in Canada but are foreign-owned
What type of accounts are used for everyday spending and have little to no interest?
Checking accounts
What number is linked to your bank account and usually consists of 7-12 digits?
Signup and view all the answers
What do creditors check to determine if you are a good person to lend money to?
Signup and view all the answers
What happens if you take out a loan?
Signup and view all the answers
What do banks need to have from the federal government?
Signup and view all the answers
What does a liability mean?
Signup and view all the answers
What is an ATM used for?
Signup and view all the answers
What happens if you don't have enough money in your account while writing a check?
Signup and view all the answers
