Checking Account Basics

Front

What is a checking account?

Back

A checking account is a type of bank account that allows you to deposit and withdraw money, make payments, and manage your finances.

Front

What are the benefits of having a checking account?

Back

Easy access to funds, ability to make payments and transfers, convenience of online banking, opportunity to build a banking relationship.

Front

What is the difference between a checking account and a savings account?

Back

A checking account is used for everyday transactions, while a savings account is for long-term savings.

Front

What is a checkbook?

Back

A checkbook is a booklet or register used to keep track of checks written and funds available in a bank account.

Front

What is a check register?

Back

A check register is a document used to track and record all transactions related to a checking account.

Front

What is a debit card?

Back

A debit card is a payment card that allows the cardholder to make purchases by deducting funds directly from their checking account.

Front

What is an overdraft fee?

Back

A charge imposed by a bank when a customer withdraws more money from their account than is available.

Front

What is a minimum balance requirement?

Back

The minimum amount of money that must be maintained in a bank account to avoid fees or penalties.

Front

What is direct deposit?

Back

Direct deposit is a method of electronically transferring funds from one bank account to another.

Front

What is online banking?

Back

Digital service provided by banks for performing financial transactions over the internet.