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Financial Services for Money Management
information provided by the NEFE program, www.hsfpp.org
Terms in this set (8)
your paycheck or government benefits are automatically deposited into your bank account.
Automatic Deposits & Transfers
types of "set it & forget it" services that allows you to PYF (Pay Yourself First) & set schedules for moving your money to accounts within the same bank or to outside banks.
Online Bill Pay
Lets you send money to your creditors & utilities straight from your checking account or savings account. You can make one-time payments or schedule payments to happen automatically each month.
enabling email or SMS (Short Message Service) text messages that help you stay on top of your account & tackle problems quickly. Some issues could include: a low balance, failed bill payment, overdraft fee charges, etc.
allows you to manage your account on any Internet-enabled smartphone with an app, website or text messages.
mobile app that allows you to enter a PIN (Personal Identification Number) & a number from a receipt. Your information is stored on a secure Internet server, not your phone.
log on to an app, tap or wave your phone at the checkout terminal to pay. A chip inside your phone stores & wirelessly transmits your payment information to finish the sale.
Person-to-Person (P2P) Payment Service
allows individuals to use a person's cellphone number or email address to send money directly from your bank to the other person's bank.
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