EVERFI: Checking Accounts

What is the benefit of a checking account?

• It allows you to save money and earn interest.

• It helps you spend money without carrying cash.

• It allows you to spend money and pay the bill later.

• It helps you invest money and gain a greater return.

Your favorite cousin Briar's birthday is coming up, and you'd like to gift her some money from your checking account. What is the benefit if gifting money via check?

• It is better because you get to earn interest.

• It is safer because you can trace the transaction.

• It is faster because the money will be available instantly.

• It is cheaper because it has a flat fee per transaction.

Alejandro realized that he forgot his wallet when he was about to pay at a store. He only has his smartphone with him. How can he make a payment with money from his checking account?

• He can use a mobile payment app with his phone.

• He can write a check with his mobile banking app.

• He can send his checking account number via text.

• He can show a picture of his debit card in his phone.

Camila just opened a new checking account. How can it help her better manage her money?

• She can get a greater investment in return.

• She can earn more interest to save money.

• She can check her transaction history easily.

• She can borrow money and pay it back over time.

Using your mobile banking app, you can ______.

• Write checks

• Deposit cash

• Withdraw cash

• Deposit checks

Which of the following items describe a feature of a checking account?

• High fees

• Credit card

• High interest

• Debit card

To deposit a check using a mobile banking app, you have to ________.

• Check your interest rate

• Have more than one account

• Upload picture of your signed check

• Mail the check to your financial institution

Overdraft protection helps you cover a purchase in your checking account _________.

• When you lost your debit card

• When you don't have enough funds

• Only if you are investing with your money

• Only if you are paying with a mobile payment app