Banking
What does ATM stand for?
ATM (Automatic Teller Machine)
True or false?
You can use a deposit slip to deposit checks and cash at the same time.
True
How are bank statements delivered?
By mail or e-mail
What does PIN stand for?
Personal Identification Number
You go to Best Buy and spend $698.50 for a new tv. What do you write on the memo line?
new tv
What is a checking account?
A bank account for everyday expenses; money can be taken out at any time
What area on the deposit slip should you fill in to receive cash back?
Less cash receive
What does it mean when a check has been cleared?
The check is deposited and processed
Your original checking account balance was $150. You brought groceries for $80 and deposited a check for $35. What is your new balance?
$105
What do you write on the line marked PAY TO THE ORDER OF?
Name of the person or business
What is a savings account?
A bank account to save money and earn interest on the cash in the account
On a deposit slip, what does Net Deposit mean?
The amount being deposited into the account
What is a Bank Statement?
A printed record of the balance in a bank account and the amount that have been paid into it and withdrawn from it.
$220 - $40 = $180 - $2.50 = $177.50 - $25 = $152.50
$152.50
Use the following information to write a check:
On Christmas of last year, while on vacation with your family in New York City, you went to Macy's and bought a new watch for $332.79.
Date: December 25, 2017
Payee: Macy's
Amount in Numbers: $332.79
Amount in Words: Three hundred thirty-two and ---- 79/100
Memo: New watch
Signature: (sign name)
What is a teller?
A person who works in a bank receiving money from customers and pay out money to customers
When is it necessary to sign a deposit slip?
To receive cash back
What is a check called that cannot be processed because the account has nonsufficient funds (NSF)?
Bounced check
What is the difference between a PIN number and a verification number?
PIN Number: The number used to withdraw money from your debit card.
Verification number: The 3 digit number on the back of the debit card.
Write the following amount in word form as you would on a check:
$6,231.74
six thousand two hundred thirty-one and --------- 74/100
What is interest?
Money earned over time for keeping money in your account
What is the difference between Subtotal and Net Deposit (Total Deposit)?
Subtotal is the total amount of cash and checks.
Net Deposit (Total Deposit) is the amount being deposited into the account after subtracting cash received.
What is the difference between a statement period and statement balance?
Statement period: dates of which the statement shows transactions for
Statement balance: Money remaining in the account on the last day of the statement period.
What 5 parts are included on a debit card?
1. Account Number
2. Expiration Date
3. Cardholder's Name
4. Magnetic Strip
5. Verification Number
What are the 6 parts of a check?
1. Date
2. Payee
3. Amount in Numbers
4. Amount in Words
5. Signature
6. Memo