Intro to Banking and Checking

Which of the following is TRUE about checks?

Hint: there are 2 correct answers

• The amount of money is written both numerically and in words

• When paying by check the money instantly comes out of your checking account

• Checks should show up on your bank statement within 100 days

• You should endorse the back by signing it when depositing a check.

Which of the following fee(s) may banks charge you?

• Online Statement Fee

• Over-drafting your account

• In-Network ATM Fee

Mobile or email alerts for your checking account can notify you of...click all that apply

• Low balances

• Unusual activity

• Deposits

• Your home getting broken in to

Which of the following items is NOT necessary to open up a checking account?

• Your previous year's tax return

• Proof of address

• Identification

A checking account is best used for...select all that apply

• Placing money you earn

• Storing money to spend

• losing your money

Which of the following is TRUE about Student Checking accounts?

• There are no minimum balance requirements

• They all expire only when you turn 24 years old

• Some have monthly fees

Which of the following is TRUE about check registers?

HINT: There are 3 answers

• It can help you identify mistakes in your bank statement

• It can help you avoid writing checks that cause an overdraft

• You know exactly how much money you have left to spend

• They don't really help

What is a typical overdraft fee?

• $5
• $15
• $25
• $35

How can you protect your checking account when using online and mobile banking?

• Sharing your pin # with only 1 person in case you forget it

• Use a strong password

• Opt-out of alerts to notify you of unusual activity

What is the benefit of direct deposit?

• Any overdraft fees are waived

• You don't have to spend time and energy depositing a check

• You get a tax benefit from the Federal government