Checking Accounts

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What is an ATM?

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An ATM (Automated Teller Machine) is a machine that allows individuals to deposit and withdraw money from their checking or savings accounts.

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What is a deposit?

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A deposit is money added to a checking account.

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What is a wire transfer?

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A wire transfer is a method of electronically transferring funds from one bank account to another, often involving fees.

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What is a check?

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A check is a written order directing a bank to pay a specific amount of money from a person's account to another person or entity.

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What is a routing number?

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A routing number is a unique nine-digit number that identifies a financial institution in a transaction.

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What is a withdrawal?

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A withdrawal is the act of taking money out of a checking or savings account.

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What is an endorsement on a check?

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An endorsement is a signature on the back of a check that authorizes the transfer of funds to another party.

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What does it mean if a check is not written out correctly?

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If a check is not written out correctly, it may not be honored by the bank, leading to payment issues.

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What is the purpose of a check register?

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A check register is a tool used to track deposits, withdrawals, and the balance of a checking account.

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What is a bank statement?

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