Checking and Savings Accounts

How many of you are now ready to open a savings account? If so, would you bank at the financial institution you researched?

• Yes, I am ready. No, I wouldn't choose the financial institution I researched.

• Yes, I am ready. Yes, I would choose the financial institution I researched.

• No, I am not ready. I don't understand any of it and so I wouldn't choose the financial institution I researched.

• No, I am not ready. I would choose the financial institution I researched once I became ready, though.

With a Certificate of Deposit, money stays in an account for a _________________ (could be a few months to a few years).

Money Market Accounts generally have higher ___________ than a regular savings account.

When writing a check, this tells the bank which account the money is to come from:

• 12-digit routing number

• 10-digit account number

• 16-digit check number

• none of the above

When writing a check, write in _________; write ____________; and __________ every check in your register.

Your ________________ should be the last thing you complete (when writing a check). It gives the bank permission, or authorization, to release the money to the payee.

When you deposit a check, you need to let the bank know that you have personally approved the transaction by __________ the check:

• folding

• typing

• recording

• endorsing

A checking account allows you to pay for things in other ways than using cash - like wiring checks or using a credit card

• True

• False

What is a check?

Evaluate responses using AI:

OFF

You can use several accounts to save money, for example, regular savings, money market accounts, and CDs.

• True

• False