Checking
Accounts
Accounts
An institution that receives, lends, borrows, exchanges, issues and safeguards money.
What is a bank?
A written order instructing a bank to pay money from a checking account.
What is a check?
A type of card that is only used to withdraw money from your account at an automated teller machine.
What is an ATM card?
A system of money including coins and paper money.
What is currency?
To take money out of an account.
What is to withdraw?
A small paper form you fill out to put cash or checks into a bank account.
What is a deposit slip?
A small plastic or metal payment card that lets you spend money directly from your checking account.
What is a debit card?
An itemized list of predicted income and expenses over a period of time; sometimes called a spending plan.
What is a budget?
An account in which money is deposited and is used to save for long term goals. This type of account earns interest from the bank.
What is a savings account?
A record showing the check number, person to whom the check is paid, amount of the check, the date, and the balance of your checking account.
What is a checkbook register?
A type of card that allows you to pay later. Purchases can be made with this card throughout the month, and a bill for the total amount of purchases must be paid at the end of each month.
What is a credit card?
A printed record issued by the bank of the balance in a bank account and all of the transactions during that monthly period.
What is a bank statement?
Money borrowed by an individual OR a business to be paid back with interest.
What is a bank loan?
An electronic payment method that transfers funds directly into a bank account without using physical paper checks (typically used by employers).
What is direct deposit?
For Borrowers: It is the extra fee you pay a lender (like a bank) for using their money for a loan or credit card.
For Savers: It is the extra money a bank pays you for keeping your cash in a savings account.
What is interest?
A method of banking in which transactions are conducted electronically via the Internet.
What is an online banking?
The signature on the back of a check that allows it to be cashed.
What is an endorsement?
This happens when you spend or withdraw more money than you have in your bank account, resulting in a negative balance.
What is an overdraft?
The letters written in the Check # column on a checkbook register, when recording a debit card purchase.
What are the letters D.C.?
Final Jeopardy
A type of investment purchased from the bank for a specific amount of money at a fixed rate of interest.