What is a checking account?
Checking account

Flashcard
•
Mathematics
•
6th Grade
•
Hard
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1.
FLASHCARD QUESTION
Front
Back
A checking account is a type of bank account that allows you to deposit money, withdraw funds, and write checks.
2.
FLASHCARD QUESTION
Front
What does it mean to deposit money into a checking account?
Back
Depositing money means adding funds to your checking account, increasing your balance.
3.
FLASHCARD QUESTION
Front
What is a withdrawal?
Back
A withdrawal is the act of taking money out of your checking account.
4.
FLASHCARD QUESTION
Front
What happens when you write a check?
Back
Writing a check is a way to withdraw money from your checking account to pay someone.
5.
FLASHCARD QUESTION
Front
What is an overdraft?
Back
An overdraft occurs when you withdraw more money than you have in your checking account, resulting in a negative balance.
6.
FLASHCARD QUESTION
Front
What is a bank fee?
Back
A bank fee is a charge that the bank may impose for various services, such as overdrawing your account.
7.
FLASHCARD QUESTION
Front
What is a debit card?
Back
A debit card is a payment card that deducts money directly from your checking account when you make a purchase.
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