Banking services

Front

What is a Bank Statement?

Back

A document produced by the bank that tracks withdrawals, deposits, and interest earned.

Front

What happens if you write checks for more than you have in your checking account?

Back

Your account will be overdrawn.

Front

What does it mean when your check clears the bank?

Back

It has been processed and the money transferred out of your account.

Front

What is a direct deposit?

Back

A payment that goes to your account without using a check.

Front

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

Back

True.

Front

What is the purpose of a Check Register?

Back

To keep track of all checks written and deposits made in a checking account.

Front

What is an Overdraft?

Back

A situation where withdrawals from an account exceed the available balance.

Front

What is a Certificate of Deposit (CD)?

Back

A savings product that earns interest on a fixed amount of money for a specified period.

Front

What is the function of a Savings Account?

Back

To save money while earning interest on the deposited amount.

Front

What is an ATM?

Back

Automated Teller Machine, a device that allows bank customers to perform financial transactions.