4.1 Financial Service Providers Lesson

the process of transferring money from one individual or organization to another

the process of buying goods and services

savings and loan association (S & L)

Internet bank

mutual savings bank

commercial bank

Most of their services must be paid for with service charges.

Their low overhead costs allow them to pay higher interest rates on savings accounts.

Most Internet banks also staff physical banks and branch offices.

They have high operating expenses because they must maintain enough staff to be available 24 hours a day.

internet bank

community bank

credit union

S & L association

commercial bank

credit union

internet bank

community bank

mutual savings bank

withdraw money

deposit money

transfer money

all of the above

debit card

credit card

stop-payment order

overdraft protection

money order

check certification

restrictions and penalties

fees and charges

interest rates

All of the above.

True

False