FINE PRINT: Checking Account Statement

First Name:

Last Name:

Period:

1. How frequently does John typically receive account statements from his bank?

• Daily
• Weekly
• Monthly
• Annually

2. How much did John Jones have in his account on the first day of the statement period?

• $-72.47
• $0.55
• $694.81
• $1,442.61

3. John has two ATM transactions but only one of them has a fee (Interac). Why?

• Interac is an out-of-network ATM and First Bank charges customers if they use out-of-network ATMs.
• First Bank charges customers for using their ATMs.
• Banks charge fees if you take out less than $100 at an ATM machine.
• The first ATM transaction is free but all additional ATM transactions have a fee.

4. Most employers will pay their employees by directly depositing their paycheck into their checking account. According to his checking account statement, John was paid ________________ every __________ .

• $200.00, 3 weeks
• $694.81, 2 weeks
• $300.00, 1 month
• $100.00, 2 weeks

5. What is the impact of the Online Funds Transfer - From Savings that appears on John's statement?

• John's Savings account balance declined by $50 and his Checking account balance increased by $50
• John's Savings account balance increased by $50 and his Checking account balance declined by $50
• John's Savings account balance had no change and his Checking account balance declined by $50
• John's Savings account balance increased by $50 and his Checking account balance had no change

6. Which statement is true regarding Check No. - 409?

• This check likely came from John’s employer.
• This check was written by John and paid to another person or business.
• This check caused John to overdraw his checking account.
• This check added $100 to John’s account.

7. Which transaction caused John to overdraw his account?

• The Online Bill Payment for $146.67
• Check No. 409 for $100
• Check No. 410 for $710.49
• The Overdraft Fee of $35