Checking Accounts
An institution that receives, lends, borrows, exchanges, issues and safeguards money.
What is a bank?
A written order instructing a bank to pay money from a checking account.
What is a check?
A type of card that is only used to withdraw money from your account at an automated teller machine.
What is ATM card?
A system of money including coins and paper money.
What is currency?
To take money out of an account.
What is withdrawal?
A written form instructing a bank to take cash out of an account. This form includes the account holders name, account number, and the amounts of cash the customer wants to take out.
What is a withdrawal slip?
A type of card that can be used to withdraw money from an automated teller machine, but is also used to make purchases withdrawing money from your account.
What is a debit card?
An itemized list of predicted income and expenses over a period of time; sometimes called a spending plan.
What is a budget?
An account in which money is deposited and is used to save for long term goals. This type of account earns interest from the bank.
What is savings account?
A record showing the check number, person to whom the check is paid, amount of the check, the date, and the balance of your checking account.
What is a checkbook register?
A type of card that allows you to pay later. Purchases can be made with this card throughout the month, and a bill for the total amount of purchases must be paid at the end of each month.
What is a credit card?
A printed record issued by the bank of the balance in a bank account and all of the transactions during that monthly period.
What is a bank statement?
An account in which money is deposited and is used to save for long term goals. This type of account earns interest from the bank.
What is a bank loan?
A method of payment where a paying party, such as an employer or government agency, electronically transfers a payment in cash from its bank account into the bank account of the payee.
What is direct deposit?
Money that can be earned in a savings account OR charged to credit card users.
What is interest?
A method of banking in which transactions are conducted electronically via the Internet. .
What is online banking?
The signature on the back of a check that allows it to be cashed.
What is an endorsement?
A check written for a larger amount than the balance in a checking account. Or a purchase made with a debit card for a larger amount than the balance in a checking account.
What is overdraft?
The letters written in the Check # column on a checkbook register, when recording a debit card purchase.
What is DC?
Final Jeopardy- Save until the end
A type of investment purchased from the bank for a specific amount of money at a fixed rate of interest.
What is certificate of deposit?