| A | B |
|---|
| Federal Reserve System (FED) | set up to supervise and regulate member banks and to help banks serve the public efficiently… the bank for banks |
| the number of Federal Reserve Districts | twelve |
| Savings Services | safe storage of funds for future use |
| Payment Services | The ability to transfer money to others is necessary for daily business activities |
| Lending Services | Banks lend to individuals, businesses, and the government. Banks offer many types of loans including auto loans, business loans, mortgages, personal loans, and credit cards. |
| Electronic Banking | Electronic Funds transfer (EFT) – refers to the use of computers and other technology for banking activities including ATMs’ point-of-sale transactions, direct deposit, and automatic bill payment. |
| Storage of Valuables | Safe-deposit boxes |
| Investment Advice | offer assistance in making investment decisions |
| Management of Trusts | managing funds in trust accounts |
| Automatic Teller Machines (ATMs) | allows you to access many banking services 24 hours a day, 7 days a week |
| Debit Card | or called cash card is used for ATM transactions |
| Payments at the Point-of-Sale | a debit card is used to pay for purchases |
| Direct Deposit | primarily used for direct deposit of paychecks |
| Automated Bill Payments | each month you can make payments via the internet…you could pay expenses such as rent, utility, mortgage, and loan payments |
