Do Now Why do people have checking accounts?. Unit 4: Lesson 13: Checking Accounts Day 1 Objective: identify vocabulary terms related to checking accounts.

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Presentation transcript:

Do Now Why do people have checking accounts?

Unit 4: Lesson 13: Checking Accounts Day 1 Objective: identify vocabulary terms related to checking accounts Homework: Vocabulary Worksheet

Vocabulary Terms ATM Card: Balance: Balancing your checkbook: Bounce: Check: tells how much money is in an account comparing your bank statement to the balance that you keep track of a bank returns a check because there is not enough money in the account to cover for the check a piece paper that tells a bank to pay out money from a checking account; can be used instead of cash a card used to withdraw or deposit money into a checking or savings account using a machine

Vocabulary Terms Check register: Checkbook: Checking account: Checking account statement: Credits: can be used to keep track of credits and debits of for checking account a book containing blank checks that the bank gives you when opening a checking account an account at a bank that allows a person to withdraw money by writing checks or using an ATM card a statement sent by a bank that shows all transactions for a checking account over a period of time (usually one month) amounts of money added (deposited) to a checking or savings account

Vocabulary Terms Debits: Deposits: PIN: Prepaid credit card: Service charge: withdrawing money from an account; paying money from a checking account adding money to a checking or savings account Personal Identification Number; a secret code used at ATMs a credit that has an amount of money put on it and can only be used to make purchases up to that amount a fee that a bank charges for a certain service

Vocabulary Terms Transaction: Withdraw: Withdrawals: action that changes the balance in a checking account, such as a deposit or withdrawal to take money out of a bank account removals of money from a bank account

Essential Question What is a check register?