Question

what is usually included with a checking account to give you additional options for purchases and ways to access your money? with the above feature, explain how you are able to use it? is there a limit on how much you can spend? does using this feature help build your credit? why or why not? how much money should you keep in your checking account? why do banks make money deposited into your savings account more difficult to access? what is the name of the agency that insures bank deposits? do not just give the abbreviation. who can be a customer at a credit union? who “owns” credit unions? who owns banks? credit union: banks:

Explanation:

Answer:

• Debit card: You can use a debit card to make purchases at point - of - sale terminals by swiping, inserting, or tapping it. There is usually a daily limit on how much you can spend, which varies by bank and account type. Using a debit card does not directly help build credit because it is linked to your checking account funds and not a line of credit.
• An amount sufficient to cover your regular expenses and any outstanding bills, such as rent/mortgage, utilities, and loan payments, plus a buffer for unexpected expenses. A common recommendation is to keep 1 - 2 months' worth of living expenses in a checking account.
• To encourage long - term savings and to use the deposited funds for other investment and lending activities. By making it less accessible, banks can better manage their liquidity and use the money for more profitable long - term operations.
• Federal Deposit Insurance Corporation
• People who belong to a common bond, such as employees of a particular company, members of a specific organization, residents of a certain community, etc.
• Credit Union: Members; Banks: Shareholders or investors