Checking Vocabulary

Front

What is a Checking Account?

Back

An account used for everyday transactions.

Front

Deposit

Back

Putting money into a bank account.

Front

Check

Back

A written order to pay from your account.

Front

Overdraft

Back

When you spend more than you have in your account.

Front

What is the Minimum Balance?

Back

The lowest amount of money to have in your account to avoid fees or account closure.

Front

Direct Deposit

Back

Automatically depositing payments into your account.

Front

What does the FDIC stand for?

Back

Federal Deposit Insurance Corporation

Front

What is an ATM? Options: A) A machine for tracking account balances. B) A machine for depositing money into your account. C) A machine for withdrawing cash and checking balances. D) A digital tool for managing accounts.

Back

C) A machine for withdrawing cash and checking balances.

Front

Account Statement

Back

A monthly summary of account transactions.

Front

Online Banking

Back

Accessing and managing your account through the internet.