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Presentation transcript:

$0.01 $1 $5 $10 $25 $50 $75 $100 $200 $300 $400 $500 $750 $1,000 $5,000 $10,000 $25,000 $50,000 $75,000 $100,000 $200,000 $300,000 $400,000 $500,000 $750,000 $1,000,

BACK TO HOME

YOU HAVE WON…

What does PIN stand for? 1

Personal Identification Number 1

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What does ATM stand for? 2

Automated Teller Machines 2

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What does EFT stand for? 3

Electronic Funds Transfer 3

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What is a canceled check? 4

A check that has successfully made it through the system and has cleared with the bank. 4

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This type of bank account is also known as a “survivorship account.” 5

Joint Account 5

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What is the most common endorsement and how would you sign it on a check? 6

Blank Just sign your name 6

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These allow you to immediately deduct money from your checking account in order to pay for purchases 7

Debit Cards 7

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This is a request to a bank to not cash a specific check 8

Stop Payment Order 8

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What is the purpose of a Bank Reconciliation Sheet? 9

To match your register with the bank’s statement to check for errors 9

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10 Explain what a Special Endorsement is and how you would write it on your check.

To transfer the check to someone else. “Pay to the Order of _______. Your signature” 10

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These are used to store small valuable items and documents 11

Safe Deposit Boxes 11

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12 The average-daily-balance-method charges a fee to your account when?

When the balance in your account falls below a specific amount 12

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What does it mean to “float a check?” 13

To write a check knowing you don’t have the $ but hoping you can deposit $ before the check clears 13

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The person who is writing the check is known as the what? (2 possible answers) 14

Maker or Drawer 14

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The person to whom you write a check to is known as the what? 15

Payee 15

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What type of endorsement is the safest and how would you sign it? 16

Restrictive “For Deposit Only BANK ACCT # your signature” 16

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This account charges a monthly service fee but NO per-check fee 17

Standard Account 17

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What is this group of numbers called? 18

Bank’s Routing # 18

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What is this group of numbers called? 19

Banking Account # 19

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Why do you fill out a Signature Card when opening a checking account? 20

So the bank has something to check your signature with if a suspicious check comes through. 20

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What does it mean to “overdraft”? 21

To write a check for more $ than is in your account 21

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This account has service fees and fees for each check you write 22

Special Account 22

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This is a check that a bank writes to you on its own funds 23

Cashier’s Check 23

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This is a personal check you can write through a bank in order to guarantee that the check is good 24

Certified Check 24

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You would use these when you are paying someone who doesn’t want cash but you do not have a checking account. 25

Money Order 25

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This person manages property for someone else under a special agreement 26

Trustee 26

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