Bank Account - Checking

Front

What is the term for removing money from a bank account?

Back

Withdrawal

Front

What fee is incurred when a check exceeds the available balance in a checking account?

Back

Overdraft fees

Front

What does 'balance brought forward' mean in banking?

Back

Money in the account from the previous month.

Front

Why are contact numbers included on bank statements?

Back

To contact one another if there is a mistake.

Front

What is required on line 6 of a check?

Back

Your signature.

Front

What is a checking account?

Back

A bank account that allows for deposits and withdrawals, typically used for everyday transactions.

Front

What is the purpose of a bank statement?

Back

To provide a summary of all transactions in a bank account over a specific period.

Front

What is an ATM?

Back

Automated Teller Machine, a machine that allows customers to perform banking transactions without a teller.

Front

What is a deposit?

Back

Money added to a bank account.

Front

What is the difference between a debit card and a credit card?

Back

A debit card withdraws money directly from a checking account, while a credit card allows borrowing up to a certain limit.