Reconciling a checking account

Front

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.

Front

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.

Front

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.

Front

What is a withdrawal?

Back

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

Tags

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

CCSS.RI.9-10.4

CCSS.RI.9-10.4

Front

What does it mean to deposit money?

Back

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

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.8.5

CCSS.RI.9-10.3

CCSS.RI.9-10.5

Front

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.

Front

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.

Tags

CCSS.RI.11-12.7

CCSS.RI.8.7

CCSS.RI.9-10.7

CCSS.RL.11-12.7

CCSS.RL.9-10.7

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.

Front

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.

Front

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.