Banking services – Checking Accounts

Front

What is the current amount of money in your bank account called?

Back

Balance

Front

What must be included on a check?

Back

Your signature, The current date, The amount of money, All of the above

Front

What are the two main types of accounts at banks?

Back

Checking and savings

Front

If John cashed a check for $630 and received 3 fifty-dollar bills and 18 twenty-dollar bills, how many ten-dollar bills did he receive?

Back

12

Front

What is an electronic transfer?

Back

A method of transferring money from one account to another without any check or cash involved.

Front

What is a checking account?

Back

A bank account that allows for deposits and withdrawals, typically used for everyday transactions.

Front

What is a savings account?

Back

A bank account that earns interest on deposits and is used for saving money.

Front

What is the purpose of overdraft protection?

Back

To prevent transactions from being declined when there are insufficient funds in the account.

Front

What is a bank statement?

Back

A summary of all transactions in a bank account over a specific period.

Front

What is a deposit?

Back

Money placed into a bank account.