Reconciling a checking account

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What is an overdraft fee?

Back

An overdraft fee is a charge that a bank imposes when a customer withdraws more money than is available in their checking account.

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What does endorsement mean in the context of checks?

Back

Endorsement refers to the payee's signature on the back of a check, allowing the check to be cashed or deposited.

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What is the process of reconciling a checking account?

Back

Reconciling a checking account is the process of comparing your check register with your bank statement to ensure they match.

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What is a withdrawal?

Back

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

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What does it mean to deposit money?

Back

To deposit money means to add funds to a bank account.

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What is a check register?

Back

A check register is a record of all transactions in a checking account, including deposits, withdrawals, and checks written.

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What is a bank statement?

Back

A bank statement is a summary of all transactions in a bank account over a specific period, usually monthly.

Front

What is the purpose of balancing a checkbook?

Back

The purpose of balancing a checkbook is to ensure that the records in the check register match the bank statement.

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What is a service fee?

Back

A service fee is a charge that a bank may impose for maintaining an account or for specific services.

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What is an ATM fee?

Back

An ATM fee is a charge that may be incurred when using an ATM that is not affiliated with your bank.