Show:
Checking Account Mistakes
Checks
FDIC
Banking Terms
Bank Reconciliation
100
Why can frequently using ATMs be a bad thing?
ATMs charge service fees that can accumulate quickly.
100
The type of check we write on a daily basis.
Personal check
100
What does the FDIC stand for?
Federal Deposit Insurance Corporation
100
The name for the type of bank we use on a daily basis
Commercial Bank
100
What two financial documents does the bank reconciliation compare?
Bank statement and your personal register
200
You write a check for $50 but you only have $40 in your account. This check will be considered a _ _ _ _ _ _ _ _ _ _ _ _.
bounced check
200
A bank's own personal check that you purchase from them. Used for large purchases.
Cashier's check
200
The president that established the FDIC
Franklin Roosevelt
200
The non profit financial institution formed by groups of people are called
Credit unions
200
List at least three things that could make your personal register different from your bank statement
interest, nsf checks, outstanding checks, service fees, deposits in transit.
300
When money is taken automatically out of your account periodically, it is called an
automatic withdrawal.
300
A personal check that verifies you have enough money in your account to cover the check. Also used for large purchases.
Certified Check
300
The amount that the FDIC insures deposits up to
$250,000
300
Checking Accounts are also called _ _ _ _ _ _ _ _ _ _ _ _ _ -
demand deposits
300
Deposits that have been made but not yet recorded on the bank statement are called
Deposits in transit
400
A term used when one person signs another person's loan and takes responsibility if they can not pay it.
co-sign
400
A check you can get from a currency exchange if you don't have a checking account.
Money Order
400
What historic event prompted the creation of the FDIC?
The Great Depression
400
Which type of account earns more interest...checking or saving?
Saving
400
Checks that have been written but not yet cashed are considered
outstanding checks
500
A dangerous checking technique when you ask the person to whom you are writing a check to cash at a specific later date.
Postdating a check
500
A check that has been deposited and cleared by the bank.
Cancelled check
500
The year that the FDIC was created.
1933
500
The term used for the rescue of the banking industry by the government.
Bank bailout
500
The more commonly used phrase for a bank reconciliation
balancing your checkbook