Bank Accounts and Identification

What problem do Jamal and Michelle face in the dialogue?

Why does the bank put a five-day hold on all personal checks?

• To verify the authenticity of the check

• To earn interest on the money

• To delay the payment process

• To comply with government regulations

What type of account is Jamal considering opening?

What commission percentage does the bank take for cashing checks?

What is a checking account used for?

• To deposit money at a bank

• To withdraw money from an ATM

• To earn high interest

• To open a credit line

A savings account is an account you have for the purpose of ________ money over a period of time.

• saving

• spending

• borrowing

• losing

What must both parties do to be put on an account?

• Sign a contract

• Provide identification

• Agree to terms and conditions

• Submit a joint application

What option do you have when you open your account?

• Getting a bank card

• Receiving a loan

• Opening a credit account

• Buying insurance

Which of the following is a form of acceptable identification needed to open a bank account?

• Driver's License

• Library Card

• Gym Membership

• Grocery Store Loyalty Card

What document do you need to show for your current mailing address?

• Utility bill

• Passport

• Driver's license

• Social Security card