Checking Accounts

A checking account is primarily used for which of the following purposes, and which of these is a component of a typical bank statement?

• Making everyday transactions; Account balance

• Long-term savings; Loan interest rate

• Investing in stocks; Portfolio summary

• Paying off mortgages; Property appraisal

Ways you can deposit and withdraw funds from your checking account include:

• Using ATMs, writing checks, visiting a bank branch, and using online banking

• Only using cash at a bank branch

• Only through mobile apps

• Only by writing checks

Which of the following best explains the pros and cons of opening a checking account at a credit union?

• Credit unions often offer lower fees and better interest rates, but may have fewer branches and ATMs compared to banks.

• Credit unions always have more branches and higher fees than traditional banks.

• Opening a checking account at a credit union guarantees unlimited ATM access worldwide.

• Credit unions provide no benefits over traditional banks when it comes to checking accounts.

The purpose of FDIC insurance is to:

• Protect depositors' funds in banks in case of bank failure.

• Increase the interest rates on savings accounts.

• Provide loans to small businesses.

• Regulate stock market investments.

The article describes ways to put money into your checking account. Have you ever made a cash deposit at your bank?

• Yes

• No

The article describes ways to put money into your checking account. Have you ever deposited a check at your bank?

• Yes

• No

The article describes ways to put money into your checking account. Have you ever used an ATM to deposit your money?

• Yes

• No

The article describes ways to put money into your checking account. Have you ever made a mobile deposit?

• Yes

• No

The article describes ways to put money into your checking account. Have you ever used Direct Deposit?

• Yes

• No

The article describes ways to put money into your checking account. Have you ever transferred money from another account?

• Yes

• No