Checking Accounts

A checking account is a type of bank account that allows for numerous withdrawals and deposits, and is often used for daily transactions.

A debit card is a payment card that deducts money directly from a checking account to pay for a purchase.

A routing number is a unique identifier assigned to a financial institution that helps to identify the bank in a transaction.

A withdrawal is the act of taking money out of a bank account.

A deposit is the act of adding money to a bank account.

A check is a written order directing a bank to pay a specific amount of money from a person's account to another person or entity.

A checking account is used for daily transactions, while a savings account is intended for saving money and typically earns interest.

Reconciling a bank statement means comparing the bank's records with your own to ensure they match and to identify any discrepancies.

An overdraft occurs when money is withdrawn from a bank account and the available balance goes below zero.

A bank statement is a summary of all transactions in a bank account over a specific period, including deposits, withdrawals, and fees.