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WorksheetsChecking, Online Banking, P2P
Total questions: 20
Worksheet time: 10mins
People who are unbanked are most likely to...
Use a mobile banking app
Receive a monthly statement of their transactions
Deposit their checks at the ATM
Pay for services that would be free if they had an account
You can access (withdraw) the money in your checking account by...
Using the cash grandma gave you to pay at the grocery store
Paying bills with a pre-paid debit card
Transferring money though your online account
Using your credit card to buy a PS5
Writing a check for a major purchase is safer than carrying a large amount of cash to the store.
True
False
An agency of the federal government that insures bank deposits up to $250,000 is the
FAA
FDIC
FIDC
Fed
Which card can access the funds in your checking account?
Credit Card
Debit Card
Credit Card
License
Taking more money out of your account than is available is called?
Overdraft
Deposit
Withdraw
Balance
Sometimes the bank will allow you to have a better checking account if you maintain this:
Maximum Balance
Minimum Balance
Minimum Deposit
Maximum Deposit
FDIC coverage protects my money from fraudulent account activity
True
False
If the bank changes their account agreement they must notify their account holders in writing (statement) prior to the change
True
False
A P2P payment is
A check from grandma for your birthday
A transfer between two individuals
A way to pay with my checking in a store
Problems 2 Problems
One way to deposit to my account is
writing a check
using my check card to purchase at a store
using the mobile app to take a picture of the front and back of a check
Withdrawing cash at a teller
Overdraft coverage is a way to talk about what happens to a debit card transaction if I do not have a sufficient balance in the checking account, once I opt in or opt out I cannot make a change ever.
True
False
If I Opt-In to allow overdrafts to happen with my debit card, it means more revenue for the bank if I make a mistake and overdraw by using my card
True
False
If I Opt-Out of Overdraft Coverage, it means that I will not be able to make a transaction to overdraw my account with my debit card, even if I need the funds.
True
False
If I opt-in for overdraft coverage, the bank will always cover my negative balance
True
False
Select all of the ways that I can deposit funds into my checking account
Direct deposit from employer
P2P transaction from a friend
Cash at the ATM
Cash at the Teller
Cash through the mobile app
I deposited a paycheck from my first job today, when can I take out the funds?
Right away
Next Business Day
Could be from 1-7 business days depending on the bank's schedule
30 days
Even though I may use online banking to keep track of my balance, it is still good to check the monthly statement because (select all):
Verify withdrawals
Verify deposits
Ensure there are no bank fees
Learn about upcoming account changes
Learn about all bank products
This is the name of the document to review to understand the possible fees on a checking account
Statement
Wire charge schedule
Account Agreement
Signature card
Pertaining to checking alerts, all of the below are helpful EXCEPT:
Setting them up at account opening
Ignoring them
Making the thresholds realistic
Setting up alerts for low balance, direct deposit, and fraud activity
