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.
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?
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?