Checking Account & Balancing a Check Register

Front

What is a checking account?

Back

A checking account is a type of bank account that allows you to deposit money, withdraw funds, and write checks.

Front

What is a balance in a checking account?

Back

The balance is the amount of money available in your checking account at any given time.

Tags

CCSS.7.NS.A.1A

Front

What is a monthly fee in a checking account?

Back

A monthly fee is a charge that some banks impose for maintaining a checking account.

Tags

CCSS.RI.5.3

CCSS.RI.6.3

CCSS.RI.6.5

CCSS.RI.7.3

CCSS.RI.7.5

Front

What is a deposit?

Back

Money added to a checking account is called a deposit.

Tags

CCSS.6.NS.C.7C

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What is a withdrawal?

Back

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

Front

What is an overdraft fee?

Back

An overdraft fee is a charge incurred when you withdraw more money than is available in your account.

Tags

CCSS.6.NS.C.7C

Front

What is a debit card?

Back

A debit card is a card that allows you to access funds in your checking account to make purchases.

Front

What is direct deposit?

Back

Direct deposit is an electronic transfer of money into your checking account, often used for payroll.

Front

What does it mean to balance a check register?

Back

Balancing a check register means ensuring that your recorded transactions match your bank statement.

Front

What is a check?

Back

A check is a written order directing a bank to pay a specific amount from your checking account.