CH4 Test Review (P2)

Fee charged for borrowing money.

• interest

• service charge

• checking account

• savings account

Fee charged by a bank for having an account.

• interest

• service charge

• checking account

• saving account

Bank account that allows a customer to deposit money and write checks from the account.

• interest

• service charge

• checking account

• savings account

Bank account that pays interest to the account holder but limits the

number of withdrawals per month.

• interest

• service charge

• checking account

• savings account

When a check is processed and the money is transferred out of the checking account is called ______.

• electronic fund transfer (EFT)

• cleared

• debit card

• overdraft fee

Transfer of money from one person or entity to another without any cash

or checks involved.

• cleared

• debit card

• reconcile

• electronic fund transfer (EFT)

Plastic card linked to a checking account that gives the account holder

access to the money in that account.

• cleared

• reconcile

• debit card

• overdrawn

Computerized machine that allows a person to do basic banking functions

without going to a bank.

• cleared

• reconcile

• automated teller machine (ATM)

• register

When a person spends more money than is available in his or her account.

• cleared

• bank statement

• overdrawn

• balance

Fee charged by a bank for an overdrawn account.

• overdrawn

• overdraft fee

• outstanding check

• register