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14 questions
A check requires an endorsement. Who endorses the check?
the bank
the payee
On a check, who is the party who wrote the check?
payee
drawer
drawee
What can you do with online banking?
check account balances
transfer money
pay bills
all of the above
What kind of checking account allows two people to write checks for the same account?
regular checking account
joint account
interest-bearing account
A(n) _____________ ___________ is used by the bank to verify your identity.
demand deposits
signature card
bank statement
bank reconciliation
The ______________ is necessary for cashing a check.
overdrawing
debit card
bank statement
endorsement
A prearranged line of credit for overdrawn checks is called _____________ ______________.
overdraft protection
demand deposits
check register
stop payment
______________ is when you write a check for more money than there is in your checking account.
Overdrawing
Endorsement
Stop payment
Overdraft protection
A(n) ________ ___________ orders the bank not to cash a particular check.
stop payment
overdraft protection
check register
signature card
A(n) ___________ __________ is like using a credit card but money is deducted directly from a checking account rather than a credit account.
debit card
signature card
check register
bank statement
If you select this option, you are agreeing to allow your account to go negative.
Opt in overdraft protection
Opt out overdraft protection
The largest source of fees for banks when it comes to checking accounts is...
overdraft fees
wire transfers
stop payment fees
Checking cashing stores charge a fee to cash your check.
True
False
If you "opt-in" to overdraft protection, you are allowing your bank account balance to go negative.
True
False
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