Essential Checking
Federal Corporation that insures your checking account up to $250,000
What is the Federal Deposit Insurance Corporation (FDIC)?
When you take out too much money that your account balance falls below 0
What is an overdraft fee?
Process of cross-checking all transactions with bank records to ensure they match
What is reconciling your checking account?
It was this decade that the first credit cards were issued by national banks
What is the 1950s?
This type of financial institution is member owned and non-profit
What are credit unions?
Process where paycheck funds automatically enter your checking account
What is direct deposit?
This is a wise alternative to opting into overdraft protection
What are mobile banking alerts?
A ledger used to record bank transactions manually or via an app.
What is a check register?
It was this decade that the FDIC increased insurance coverage to $100,000
What is the 1980s?
This type of financial institution typically has lower fees and higher interest yields
What are online banks?
Downside of using prepaid cards
What is more hidden fees?
True or false: Once you are signed up for overdraft protection, you cannot opt out
What is false?
The space on the check that you can write about the transaction.
What is the memo?
This year was when the first ATM appeared
What is 1969?
These are the 3 major types of financial institutions for checking accounts
What are traditional banks, credit unions and online banks?
At most banks, this is the minimum age you have to be to open a checking account
What is 13 years old?
This is the average fee to take money out of a non-network ATM
What is $4.72?
These are the top 3 examples that checks are used for.
What are down payments, housing rent and deposits?
These things are needed to begin direct deposits
What are your account number, routing number and a voided check?
This bank was rated the best overall in 2024
What is Chase?
These are the three most common fees in your checking account
What are monthly account fees, overdraft fees, and out-of-network ATM fees?
This is the recommended amount of money that should be kept in your checking account at all times
What is one full paycheck?
The approximate number of checks still being written in the U.S. in 2015
What is 19 billion checks?
These are the top 3 common uses for direct deposit
What are paychecks, tax refunds and other benefits?
This bank was rated the best for High School students in 2024
What is CapitalOne?