Vocabulary
The original amount deposited in a bank or the original amount of a loan
principal
What does CD stand for?
Certificate of Deposit
Money charged to your account when it is overdrawn
Overdraft fee
What is your reason to save money?
Mrs. AP will let you know if that's a good response.
Instant access to your account via cash
Liquidity
What section of a check do you write the name of the person/business you are writing the check to?
Pay to the order of
What is the standard FDIC insurance limit?
$250,000
Why do you need to learn how to bank?
Mrs. AP will let you know if you had a great answer.
A government guarantee that insures your deposits so you never lose your money if the bank fails.
FDIC (Federal Deposit Insurance Corporation)
What does the second set of numbers on a check mean?
Account number
What is a routing number primarily used for?
Identifying a financial institution in payment or transfer transactions
What is the most challenging part about banking?
Mrs. AP will let you know if your answer is valid.
An account commonly used for money you plan to spend
Checking Account
What do the first set of numbers at the bottom of the check mean?
Routing number
When depositing a check into a bank account, in which section do you enter the amount if you want cash?
Less Cash
What bank would you most likely bank with?
Any bank is fine. It is your choice at the end of the day, what suits you best.
A deposit account that typically keeps money deposited to earn interest at a bank or credit union
Savings Account
What do the top-right numbers on a check mean?
Check number
Which payment is generally the usual choice for a larger amount than a money order?
Cashier's Check
Write a deposit slip for the following:
- Deposit a check of $250 with a check number of 111.
- Less cash $50