| A | B |
|---|
| Pawn Shops | Charge very high interest for loans based on the value of tangible assets |
| Rent-to-Own | Offer an opportunity to obtain home entertainment systems or appliances for a small weekly fee. |
| Cheque-Cashing Outlets | Charge high fees (2-3%) just to have a paycheque or government cheque cashed. |
| Rapid-Refund Tax Services | Provide "instant refunds" when you pay to have your federal tax return prepared. |
| Fees | Monthly fees; per cheque fees; printing of cheques; balance inquiry fees; ATM fees |
| Interest | Rate earned; minimum deposit to earn interest; compounding method; fee charged for falling below necessary balance. |
| Banking | Refers to the deposit, loan and similar services that financial institutions offer. |
| Account Agreement | An agreement that lists your rights and responsbilites and the financial instruction's rights and responsibilities regarding the account. |
| Transaction | Any business done through your account (deposit, cash withdrawal, cheque or bank charge). |
| Point of Sale | Acceptance of debit cards at retail stores adn restarants for payment of goods and services. |
| Deposit Insurance | If the bank fails, your money is insured to a certain amount. |
| Mortgages | Used to buy a home or property in which the lender can take possession of the propery if you default on the payments. |
| Line of Credit | Bank will lend you money and you pay interest on the money you spent. |
| Credit Cards | Arrangement in which a FI pays a seller for purchases you make, and you pay the institution back later. |
| Lien | Is a form of security interest granted over an item of property to secure the payment of a debt or performance of some other obligation. |
