Vocabulary
The amount of money you have in a bank account is called your ____________.
Balance
What kind of card is linked to your checking account?
Debit card
A _____________ is a written contract between you and your bank. When you write this, you are asking the bank to take money from your account and give it to someone else or to a business.
Check
What does a PIN stand for?
Personal Identification Number
This refers to when you put money into a bank account.
Deposit
What account is a check linked to- savings or checking account?
Checking account
This ”cancels” a check and ensures that it can’t be used
Void
How often should you check your bank account balance?
Once a week at a minimum
This refers to when you take money out of a bank account.
Withdrawal
What number do you have to enter at an ATM?
A PIN number
What do you write on the “Memo” line of a check?
What you are using the check for
What do you do if you notice a charge that you did not make?
Call your bank
What is a debit card?
A card you use to make purchases, it is linked to your checking account
When you open a bank account, name one form of identification you can bring.
Birth certificate, passport, driver's license
On a check, what do you write on the line labeled “Pay to the order of”?
Who the check is for (Big Y, CVS, etc.)
What does endorsing a check mean?
Signing it
What is a check register?
Where you keep track of all of the checks you write.
What is an account number?
This is the 10 digit number that is unique to your account. This tells the bank which account the money comes from.
What is the last step when writing a check?
Sign it
Why is a check “safer” than cash?
It is addressed to a specific person/company, and only that person/company can use it.