Check Writing
This is what you write a check with.
What is a pen?
Name a commercial bank.
Chase, Wells Fargo, Bank of America, BB&T, Huntington, ....etc
Can you use a different bank's ATM to deposit your check?
No
This is used to keep track of your checks and deposits.
What is a check register?
You withdraw money from a ATM. Is this a credit or a debit?
What is a debit?
This is a charge that banks make for writing a bad check or withdrawing from a ATM that doesn't belong to a bank.
What is a fee?
This is a bank that you can join by being a member of a certain group.
What is a credit union?
Can you deposit coins into an ATM?
No
Additions to your checking account balance are known as _________.
deposits
Ms. Enos gives you $20.00 for being an awesome student, and you put it in the bank. Is this a credit or a debit?
What is a credit.
What is a memo?
This is what the check is for.
This is a type of account provided by your bank that allows you to earn a higher percentage of interest than a checking account.
What is a savings account?
When do you have to sign a deposit slip?
When you're getting cash back.
What kind of card you use to spend money that comes straight out of your checking account?
What is a debit card?
When you have a debit transaction, are you subtracting or adding from your current balance?
What is subtracting?
It is a contract for payment.
What is a check?
This is a type of account provided by your bank that allows you to spend your money.
Checking Account
Do you need to fill out a deposit slip if you're using an ATM?
No.
What do you get once a month from the bank that shows you: what you spent, what you deposited, and how much money you had on the last date of the document?
A statement.
When you have a deposit, are you subtracting or adding from your current balance?
What is adding?
Taking money out of your account that you don't have.
What is an overdraw?
This is an automated teller machine provided by your bank.
What is a ATM??
What two things can you deposit in an ATM?
Cash and Checks
Amounts reducing your checking account balance are _____________.
Checks, withdrawals or debits
You write a check to Ms. Enos to help her pay for a bunch of new glue sticks. Is this a debit or a credit?
What is a debit?