0547.2.7.2_Move Your Bank Account

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What happens to your checking account balance when you repay a friend using cash from your Venmo balance?

Back

Your checking account balance decreases.

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What is the effect on your checking account balance when there is an auto bill pay for your Netflix streaming service?

Back

Your checking account balance decreases.

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What happens to your checking account balance when you write a check to pay your monthly rent?

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Your checking account balance decreases.

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What is the effect on your checking account balance when your employer direct deposits your paycheck?

Back

Your checking account balance increases.

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What happens to your checking account balance when you pay your credit card bill in full?

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Your checking account balance decreases.

Front

What is a checking account?

Back

A checking account is a bank account that allows for numerous withdrawals and deposits, typically used for daily transactions.

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What is the purpose of direct deposit?

Back

Direct deposit is used to electronically transfer funds into a bank account, often used for payroll.

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What is an auto bill pay?

Back

Auto bill pay is a service that automatically deducts payments from your bank account for recurring bills.

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What is the difference between a debit and a credit transaction?

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A debit transaction decreases your account balance, while a credit transaction increases it.

Front

What is Venmo?

Back

Venmo is a mobile payment service that allows users to transfer money to others using a mobile app.