Checking account

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

When you write a check, you are instructing your bank to pay a specific amount of money from your checking account to the person or business named on the check.

To overdraw an account means to withdraw more money than is available in the account, resulting in a negative balance.

An ATM fee is a charge that banks may impose for using an Automated Teller Machine (ATM) to withdraw cash or perform other transactions.

To calculate the balance, start with the initial amount, add any deposits, and subtract any withdrawals or fees.

A bank fee is a charge imposed by a bank for various services, such as maintaining an account, using an ATM, or overdrawing an account.

A deposit is money added to a bank account, increasing the account balance.

A withdrawal is money taken out of a bank account, decreasing the account balance.

Reconciling a bank statement means comparing your records of transactions with the bank's records to ensure they match.

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