Question

banking terms
using the terms below, fill in the blanks with the most appropriate answers
interest pin overdraft agreement
withdrawals gic joint holding funds
service safety deposits transfers

1. when you open an account, you have to sign an
2. an account with protection is called a protected account.
3. a is also known as a personal identification number.
4. \ \ means when you deposit a cheque, you may not be able to access the full amount of the funds from that deposit immediately.

5.,, and are three different ways to access your account.

1. a is a guaranteed investment certificate.
2. you will be charged on any amount overdrawn from your protected account.
3. a deposit box can only be opened by you.

Explanation:

1. When opening a bank - account, an agreement is signed.
2. Safety protection is associated with a protected account.
3. PIN stands for Personal Identification Number.
4. Holding funds can mean not having immediate access to deposited cheque amounts.
5. Withdrawals, deposits, and transfers are ways to access an account.
6. GIC is a guaranteed investment certificate.
7. Interest is charged on overdrawn amounts.
8. A joint deposit box may have multiple accessors, so a non - joint (implied) box is only opened by one person.

Answer:

1. Agreement
2. Safety
3. PIN
4. Holding funds
5. Withdrawals, Deposits, Transfers
6. GIC
7. Interest
8. Non - joint (not in the provided list, but implied contrast to joint for single - user access)