By: Daniela G.
Types of financial institution
Allows customers to deposit money in an account.
Do not allow costumers to deposit money. Insurance companies are non-depository.
Professionally managed portfolios of securities by pooling their funds with other investors.
Features of Depository Institutions
Debit Cards- Function in the same manner as checks but faster and more portable. Use PIN or signature to authorize transactions.
ATMs- Withdraw and deposit money, transfer money, check account balance.
Contactless Payment- "Wave" a card in front of a sensor for fast and easy transactions.