Balancing a Checkbook
A ___ is when you put money in a bank account.
*Deposit/Withdrawal
*Deposit
To access your bank account from an ATM, you must use your _________________.
A. Credit Card
B. Debit Card
C. Driver's License
B. Debit Card
A ___ is a plastic card given by a bank that is linked to your bank account.
Debit card/credit Card
Debit card
What does the word "borrow" mean?
When you take something from someone with their permission with the intent of returning it.
Kate has $250 dollars in the bank and deposits $45. How much does she have in the bank now?
$295.00
A. Automated Teller Machine
B. Automatic Talking Machine
A. Automated Teller Machine
What is the name of the 4 digit code you create when you are given a debit card from the bank?
PIN
Personal Identification Number
What does it mean to be a "responsible borrower"?
Someone who borrows something and returns it in the same condition as it was received.
When you withdraw money from your bank account, that money gets ____________ from your account.
*added/subtracted
subtracted
When using the ATM, you should always go at night.
True or False
False!
Go to the ATM during the day, be alert and aware of your surroundings
You should share your PIN with others.
True or False
False!
Never share your PIN with anyone.
A __________ is plastic card given by a store or bank that allows customers to buy items now and pay the money back later.
Credit Card
When balancing a checkbook by hand, you should use a _____________________ to help keep you organized.
A. Graph paper
B. Transaction Register
C. Receipt
B. Transaction Register
What are 4 things you can do at an ATM?
1. Withdraw money
2. Deposit money
3. Check your balance
4. Transfer money
Name one risk of using a debit card.
You could lose the card/PIN could get stolen
You just used your credit card. When do you have to pay the company back?
Monthly (you will receive a monthly bill)
______________ is the modern day way to access your bank accounts and manage your money.
A. Other Banking
B. Bank Statements
C. Online banking
C. Online banking
Name one pro and one con of using an ATM.
Answers may vary.
Pro: Available 24/7, many places have ATMs, fast, and simple to use
Con: Fees may apply, daily limits, machine issues, security risks
When using a debit card, you do not get charged interest.
True
False
True
What do credit card companies charge if you do not pay your monthly bills?
Interest