CNSR SCI 275 Study Guide - Money Order, Online Banking, Debit Card
30 Oct 2014
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Document Summary
Cash management: the management of cash and near cash (liquid) assets. Liquid assets: cash and investments that can easily be converted into cash, such as checking accounts, money market funds, and certificates of deposits (cds). Liquid assets usually yield a low return because there is lower risk. Automatic paycheck deductions deposits money into a savings account before you can even think about spending it. Another advantage is that the money deposited goes right to work earning interest. Control act of 1980: a law that allowed increased competition between banks and other financial institutions, and has resulted in a wide range of financial products for cash management. Deposit-type financial institutions: financial institutions that provide traditional checking and savings accounts; banks. Usually offer the widest variety of financial services, including checking and savings accounts, credit cards, safety deposit boxes, financial consulting, and all types of lending services. Have the most branch offices and locations.
