What is a "second chance" checking program?

An option if you have past negative financial events

What is a debit card?

A card that withdraws funds from your checking account

Which of the below are features of Mobile Banking?

Make purchases or payments with your cell phone

What are the three different types of checking accounts?

Free checking, Interest-bearing checking, ATM checking

Which of the below can be used to withdraw money from a checking account?

Write a check out to “cash” and go to a teller

All of the following are done when you reconcile your checking account EXCEPT______?

Compare your checking and savings account balances

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AIDT RTW - FDIC - Check It Out

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A review of the RTW FDIC Check It Out lesson

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Questions 10

Answers

1
What is a "second chance" checking program?
Provides extra funds if you run out of money
Comes with an interest-free credit card
An option if you have past negative financial events
An alternative to your existing checking account
2
What is a debit card?
A card that withdraws funds from your checking account
Same as a credit card - buy now, pay later
Similar to a gift card from a retail store
Only used to get cash from an ATM
3
Which of the below are features of Mobile Banking?
Make purchases or payments with your cell phone
Use your computer to complete banking transactions
Use your cell phone to access directions to the bank
Travel from bank to bank to complete transactions
4
Electronic banking services include all of the following EXCEPT______?
Debit/ATM card transactions
Calling the bank on the phone
Electronic bill pay
Apps or text messages to access your accounts
5
Which services may be accessed when you do banking online?
All of the above
Money transfers, deposits, and withdrawals between accounts
Debit card replacement and check ordering
Electronic statements and alerts
6
Which personal information should you avoid listing on preprinted checks?
Driver's License Number
Name
Phone Number
Address
7
What are the three different types of checking accounts?
Per-transaction fee checking, Free checking, ATM checking
Free checking, Interest-bearing checking, ATM checking
Credit checking, Deposit checking, Transaction fee checking
Deposit checking, Free checking, ATM checking
8
Which of the below can be used to withdraw money from a checking account?
Use a credit card
Write a check out to “cash” and go to a teller
Get a gift card at a store and cash it in at your bank
Leave a check in the night drop box
9
All of the following are done when you reconcile your checking account EXCEPT______?
Keep it up-to-date
Determine which checks have cleared
Compare your checking and savings account balances
Examine differences between the statement and check register
10
Which of these is a benefit of having a checking account?
Better money management
You cannot withdraw it once you deposit the check
Lower taxes
You can pay for things over time instead of all at once

AIDT RTW - FDIC - Check It Out Flashcards | StudBud