Checking and Banking

Front

A demand deposit account on which checks are drawn.

Back

checking account

Front

Writing a check for a major purchase is safer than carrying a large amount of cash to the store.

Back

True

Front

An agency of the federal government that insures bank deposits up to $250,000 is the

Back

FDIC

Front

Writing a check for a major purchase

Back

is safer than paying for it with cash and will give you an additional paper trail of the transaction.

Front

A document that provides an official signature that the bank can compare the one on a check is the

Back

signature card

Front

A tool used to track checking account transactions is a

Back

checkbook register

Front

Money added to a checking account is called a

Back

deposit

Front

Which of the following is the best way to keep track of your check balance? A. reconciling your bank statement each month, B. solely relying on checking your balance online, C. checking your balance by calling the bank daily, D. checking your balance at an ATM when you make a deposit, Both C and D

Back

reconciling your bank statement each month

Front

The bank from which funds are drawn is called the

Back

drawee

Front

The person or company you are directing the Bank to pay with your check is the

Back

payee