Checking Account Basics
This card lets you pay directly from your checking account at stores.
Debit Card
Clue: This is money you put into your savings account.
Answer: What is a deposit?
Clue: Taking money out of your account.
Answer: What is a withdrawal?
Clue: You want to save money for a new phone in 6 months. The best account to use is this.
Answer: What is a savings account?
Clue: This fee happens when you don’t keep the required minimum balance.
Answer: What is a minimum balance fee?
This happens when you spend more money than you have in your account.
Overdraft Fees
Clue: Banks pay you this for keeping money in a savings account.
Answer: What is interest?
Clue: Money taken out of your account for breaking bank rules.
Answer: What is a fee?
Clue: You swipe your debit card for $40 but only have $25 in your account. This will likely happen.
Answer: What is an overdraft fee?
Clue: Checking your account regularly helps you avoid this.
Answer: What is overdrafts or fees?
This document shows all deposits, withdrawals, and purchases each month.
Bank Statement
Clue: This is money set aside for unexpected expenses.
Answer: What is an emergency fund?
Clue: The amount of money currently in your account.
Answer: What is a balance?
Clue: You notice a charge on your statement that you didn’t make. You should do this first.
Answer: What is contact the bank?
Clue: Sharing your PIN with friends can lead to this.
Answer: What is fraud?
This number is used to identify your bank account for deposits and withdrawals.
Account Number
Clue: This type of account is better for long-term goals than daily spending.
Answer: What is a savings account?
Clue: A written order telling the bank to pay someone.
Answer: What is a check?
Clue: You want your paycheck to automatically go into your account. This is called this.
Answer: What is direct deposit?
Clue: Spending money without tracking it can cause this problem.
Answer: What is a negative balance?
Clue: This type of payment automatically comes out of your account each month for bills.
automatic withdrawal or autopay?
Clue: The more money you keep in your savings account, the more of this you can earn.
Answer: What is interest?
Clue: The process of comparing your bank statement to your own records.
Answer: What is reconciling your account?
Clue: You keep all your money in checking and spend it quickly. The better strategy is to do this.
Answer: What is transfer money to savings?
Clue: Ignoring your bank statements can lead to missed errors or this serious issue.
Answer: What is identity theft?