Checking Accounts Government and Economics

A check date is necessary so the bank will know the amount of money used in the processing of the check as well as the day of purchase.

False

Select the TRUE statements.

NSF stands for "non-sufficient funds." Some banks offer interest on the money that is in the checking account. When you talk with a customer service representative, you can tell them of your particular needs in opening a checking account. Over 75 percent of the country's money in circulation is in checking accounts.

"He that tilleth his land shall be satisfied with bread." This verse about a diligent worker comes from __

Proverbs 12:11

Payee Checking account Cashless society minimum balance overdrawing check date

The person who will receive the check as payment Written orders that direct payment from a bank based upon the funds available from a depositor's account A society where consumers rely solely on credit cards, debit cards, electronic accounts, and checks The smallest amount allowed in an account without a financial penalty Writing a check for more money than is available in your account Tells the bank the length of time used in the processing of the check as well as the day of purchase

When using a debit card, what is the purpose of the four digit code?

To connect your payment to your personal checking account

Which has the best system for keeping track of your spending?

Using checks

Keeping a ___ balance means you keep a current total of what you have deposited into your account as well as what you have spent out of your account.

bank