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Checks and Checking Accounts Flashcards | StudBud
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Checks and Checking Accounts
Checks and Checking Accounts
8 terms
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StudBud Administration
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343 plays
#Financial Literacy, #Math, #Checks
Flashcards
8 cards
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Practice quiz
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Questions
8
Answers
1
Some banks allow you to link your Savings Account to your Debit Card to prevent overdrafts.
True
False
2
True or False:
If you overdraw your account banks will charge you a fee.
True
False
3
T or F:
If I post date a check for a week from today, the store won't be able to cash it yet.
True
False
4
Is it better to put your money in a Savings Account or a sock at your house?
Sock: You can have access to your money 24/7.
Savings Account: Your money will be protected from theft.
5
What happens if someone misspells your name on a check?
You can still cash the check.
The bank will not allow you to cash the check.
The bank will write void across the check.
The bank calls to ensure the check was not forged.
6
Can I open a checking account if I am under 18?
Can pigs fly?
Yes, only if you have proof of employment.
Yes, only if it's a joint account with your parent/guardian.
No, the government doesn't trust you.
7
What happens if the amount of the check in #s and the amount of the check in words don't match?
The check cannot be cashed.
The numbers written in numerical form dominate.
The bank will call you and tell you to void the check.
The numbers that are written out using words dominate.
8
Is it a good idea to only carry checks?
No, some small businesses will not take checks.
Yes, everyone trusts that checks will not bounce.
