Checking

Q. People who are unbanked are most likely to...

• Use a mobile banking app

• Deposit their checks at the ATM

• Receive a monthly statement of their transactions

• Incur lots of fees at Check Cashers to access their money

Q. Which of the following is TRUE about checks?

• You should endorse the back when writing a check

• Checks should show up on your statement within 30 days

• The amount of money is written both numerically and in words

• You should endorse the front when depositing a check

Q. You can access the money in your checking account by...

• Using the cash grandma gave you to pay at the grocery store

• Transferring money through your online account

• Paying bills with a pre-paid debit card

• Using your credit card to Venmo a friend

Q. Overdraft protection...

• is a service offered only for premium checking accounts.

• is a fee-free service that prevents you from overdrawing.

• brings in a few hundred dollars each year to banks.

• can keep you from overdrawing but charges a fee.

Q. Which of the following fee(s) may banks charge you?

• Online Statement Fee

• In-Network ATM Fee

• Monthly Maintenance Fee

• Sufficient Funds Fee

Q. Mobile or email alerts for your checking account can notify you of all of the following EXCEPT...

• Low balances

• Deposits

• Unusual activity

• Credit Card transactions

Q. What is the benefit of direct deposit?

• Any overdraft fees are waived

• The funds from your paycheck are usually available between 3-5 business days

• You don't have to spend time and energy depositing a check

• You get a tax benefit from the Federal government

Q. Which of the following is TRUE about banks and credit unions?

• Banks are for-profit; credit unions are not-for-profit

• Banks are insured by the NCUA; credit unions by the FDIC

• Banks are not taxed; credit unions are taxed

• There are more local credit unions than there are banks

Q. Your friend wants to open up a checking account. Which of the following items is NOT necessary to do so?

• His (or his parent') previous year's tax return

• Identification

• Proof of address

• Opening Deposit

Which of the following with DEFINITELY show up on your bank statement at the end of July?

• Ice cream bought with your debit card on July 16th

• A birthday check you gave to your brother on July 18th

• A salad bought with cash on July 5th

• An ATM withdrawal you made on August 1st