apres U a Sa nt SUVINS Decor, derulate of deposit, or both Statement Certificate of Deposit Statement Savings Accou You may make multiple deposits and withdrawals from the account and are given printed receipts to document these transactions. The account is protected by the FDIC'S or NCUSIF's deposit insurance program if held in an insured depository institution. You collect your earned interest and the original deposit at the end of the saving period. The account is often accessible using an ATM. If funds are withdrawn before the end of a specified time period, you will incur an interest penalty ranging from thee months' to six months' worth of interest. 9. Electronic versus paper money management - Part 1 What Are Differences between Plastic , Electronic, and Paper-Based Money Management? The term payment medium, or media if referring to more than one medium, is used to describe a device or mechanism used to hold cash valu make payments. For example, coin and currency is a payment medium, but currency and checks can be considered different payment media. Cash can be held, and payments can be made, using three different media: small sheets of paper, plastic cards, and electronic systems. Non-pap based systems, while more convenient, have different risks and therefore require greater and different forms of diligence to avoid losses. How are payments made using each of the three payment systems? The paper system involves the use of Sh , while the plastic-based system uses The electronic system employs computers and similar devices to access bank accounts. What is electronic cash management? Cash management activities that are undertaken without the use of paper documents are called which includes the use of both plastic and electronic payment media. Underlying these transactions are (EFT) in which funds and information are shifted electronically between the accounts of individuals and institutions. These EFTs are used whenever cash or check transactions are not conducted. Consider the plastic-based payment system and its different media. There are seven general types of media, each with different features and risks. What are they? The seven different plastic media include: ATM cards cards debit cards prepaid cards