Checking Accounts
How does a checking account help you keep track of what you spend?
Each month you'll get a statement that is an official record of every purchase you make using funds from that account, as well as money you receive and deposit.
What do you need to bring to the bank to open a checking account?
Two forms of current photo identification.
Money to deposit.
A parent or guardian if you are under 18 years old.
How would you write $345.89 in words on a check?
Three hundred forty five and 89/100
Credit Un ion or Bank?
Which institution would charge you a lower interest rate on loans?
Credit Union
How do you endorse a check?
For Deposit only
Acct #
Signature
What is a way to get a free checking account?
Have your paycheck directly deposited into the account.
Open a savings account at the bank.
What is the routing number on a check?
Identifies the bank that issued the check
9 digit number located on bottom left of check
How would you write $200.00 in words on a check?
Two hundred and 00/100
Credit Union or Bank?
Which institution would have higher interest rates for savings accounts?
Credit union
Can you deposit a check if you do not sign it?
no
What is an additional fee you may incur in a checking account?
ATM fees.
Overdraft fees.
What part of the preprinted check will change for every check?
Check number
How would you write the following amount numerically on a check? Six hundred dollars
600.00
Credit Union or Bank?
Which institution are account holders also share holders in the institution?
Credit union.
Where do you endorse a check?
On the back of the check.
What is overdraft protection?
A guarantee that a check, ATM, wire transfer or debit card transaction will clear in your checking account if the account balance falls below zero.
Where is the account number on a check found?
Bottom of the check following the routing number.
How would you write the following amount numerically on a check? Four hundred fifty eight dollars.
458.00
Credit Union or Bank?
Which institution provides investing services like buying stocks and bonds?
Bank
On the back of a check, should you write below the line?
No
If the numerical value and the written value do not match, which value would the bank use if the bank allowed the check to go through?
Written amount would be used.
Where is the check number found on a check?
two places.
Top right corner of check.
Bottom of the check following the account number.
How would you write the following amount numerically on a check? Six hundred fifty dollars and 48 cents.
650.48
Credit Union or Bank?
Which institution is for profit?
Bank
If you only sign the back of the check and then lose it, can someone deposit the check in their account if found?
yes