Exit Ticket FA-1.1 How Checking Works

Your 7 digit Student ID

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First Name

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Last Name

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Class Period

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All of the following are benefits of checking accounts, EXCEPT...

• Your account balance is insured up to $250,000
• You can track your spending and use account alerts
• You can use your account for online and mobile banking
• You will never pay any account fees or ATM fees

An excerpt from Andre’s bank statement is shown below. How much did he spend on his purchase from the MTA?

• $49.67
• $8.95
• $53.95
• $4.28

Which of the following is true about check cashers?

• They cash checks within 3-5 days for a higher fee than banks
• They cash checks within 3-5 days for a lower fee than banks
• They cash checks immediately for a higher fee than banks
• They cash checks immediately for a lower fee than banks