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Financial Institutions

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Pre-authorized debits

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Terms in this set (11)

Pre-authorized debits

This service allows billers to withdraw money from your bank account when a payment is due. You may want to use this service for insurance premium payments.

This service allows you to access your accounts and make transactions on the Internet (using either a computer or a mobile device).

Deposit insurance

This service protects your savings if your financial institution fails. You don't have to apply or pay for this service. It covers savings and chequing accounts, GICs and other term deposits, and foreign currency.

These machines allow you to complete transactions without the need to see a bank teller.

A card that you can use to pay for goods and services, or withdraw money, directly from your bank account.