5 Questions
What distinguishes credit unions from banks?
Membership requirements and not-for-profit status
What is a key feature of online banks?
No physical branches and higher interest rates on savings
What is the primary function of a checking account?
Offering safety and convenient access to money
What sets savings accounts apart from checking accounts?
Limited withdrawals and higher interest rates
What assurance do customers have for their money in a bank or credit union in the United States?
FDIC insurance up to $250,000 or NCUA insurance
Test your knowledge of transaction accounts with this quiz! Learn about the features, benefits, and uses of checking accounts, current accounts, demand deposit accounts, and share draft accounts at financial institutions.
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