Banking services

Front

What is the purpose of reconciling your bank account?

Back

To verify that you agree with your bank on the balance.

Front

What is another name for a traditional bank?

Back

Brick and mortar.

Front

What document does an account holder use to track their deposits and withdrawals?

Back

Check Register.

Front

What must be present on a check?

Back

Your signature, the current date, and the amount of money.

Front

True or False: You can withdraw money from an ATM at any time.

Back

True.

Front

What is a bank statement?

Back

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

Front

What is overdraft protection?

Back

A service that allows you to withdraw more money than you have in your account.

Front

What is a check card?

Back

A card that allows you to access funds directly from your checking account.

Front

What is the difference between simple interest and compound interest?

Back

Simple interest is calculated only on the principal amount, while compound interest is calculated on the principal and also on the accumulated interest.

Front

What is a bounced check?

Back

A check that cannot be processed because the account holder has insufficient funds.