Unit I: Explore
description
Transcript of Unit I: Explore
![Page 1: Unit I: Explore](https://reader036.fdocuments.in/reader036/viewer/2022062501/56815f50550346895dce2e8b/html5/thumbnails/1.jpg)
Unit I: Explore
Review Day
![Page 2: Unit I: Explore](https://reader036.fdocuments.in/reader036/viewer/2022062501/56815f50550346895dce2e8b/html5/thumbnails/2.jpg)
ATM• Machine used to withdraw cash or
make deposits
![Page 3: Unit I: Explore](https://reader036.fdocuments.in/reader036/viewer/2022062501/56815f50550346895dce2e8b/html5/thumbnails/3.jpg)
PIN• Debit cards require using this to
access the account to perform transactions
![Page 4: Unit I: Explore](https://reader036.fdocuments.in/reader036/viewer/2022062501/56815f50550346895dce2e8b/html5/thumbnails/4.jpg)
Checking• Type of bank account offers the most
flexible access to your money with the fewest restrictions
![Page 5: Unit I: Explore](https://reader036.fdocuments.in/reader036/viewer/2022062501/56815f50550346895dce2e8b/html5/thumbnails/5.jpg)
Fee• The penalty for using the ATM of a
bank that is not your bank
![Page 6: Unit I: Explore](https://reader036.fdocuments.in/reader036/viewer/2022062501/56815f50550346895dce2e8b/html5/thumbnails/6.jpg)
Deposit Slip• Used to add funds to a bank account
![Page 7: Unit I: Explore](https://reader036.fdocuments.in/reader036/viewer/2022062501/56815f50550346895dce2e8b/html5/thumbnails/7.jpg)
Board of Governors• Federal Reserve is made up of
Reserve Banks, Federal Open Market Committee and this group?
![Page 8: Unit I: Explore](https://reader036.fdocuments.in/reader036/viewer/2022062501/56815f50550346895dce2e8b/html5/thumbnails/8.jpg)
Online bill pay• The use of the internet to pay bills
![Page 9: Unit I: Explore](https://reader036.fdocuments.in/reader036/viewer/2022062501/56815f50550346895dce2e8b/html5/thumbnails/9.jpg)
Checking Account• Financial service used to help
manage money and make paying for things more convenient
![Page 10: Unit I: Explore](https://reader036.fdocuments.in/reader036/viewer/2022062501/56815f50550346895dce2e8b/html5/thumbnails/10.jpg)
Opportunity Cost• The cost of making one choice over
another
![Page 11: Unit I: Explore](https://reader036.fdocuments.in/reader036/viewer/2022062501/56815f50550346895dce2e8b/html5/thumbnails/11.jpg)
Overdraft Charge• Fees charged when a check is written
with insufficient funds.
![Page 12: Unit I: Explore](https://reader036.fdocuments.in/reader036/viewer/2022062501/56815f50550346895dce2e8b/html5/thumbnails/12.jpg)
Debit card• Card used to make cashless
purchases. This card must be signed.
![Page 13: Unit I: Explore](https://reader036.fdocuments.in/reader036/viewer/2022062501/56815f50550346895dce2e8b/html5/thumbnails/13.jpg)
Routing Number• Numbers listed at the bottom of the
check indicates which Federal Reserve route the check will take
![Page 14: Unit I: Explore](https://reader036.fdocuments.in/reader036/viewer/2022062501/56815f50550346895dce2e8b/html5/thumbnails/14.jpg)
Account Number• The number at the bottom of the
check indicating what account will be affected by your transaction.
![Page 15: Unit I: Explore](https://reader036.fdocuments.in/reader036/viewer/2022062501/56815f50550346895dce2e8b/html5/thumbnails/15.jpg)
Reconciling• The process of comparing the bank
balance to the checkbook balance
![Page 16: Unit I: Explore](https://reader036.fdocuments.in/reader036/viewer/2022062501/56815f50550346895dce2e8b/html5/thumbnails/16.jpg)
Credit Union• The type of bank run by its members
and offering low rates of interest.
![Page 17: Unit I: Explore](https://reader036.fdocuments.in/reader036/viewer/2022062501/56815f50550346895dce2e8b/html5/thumbnails/17.jpg)
Direct Deposit• When your paycheck goes into your
account and does not require an endorsement from you.
![Page 18: Unit I: Explore](https://reader036.fdocuments.in/reader036/viewer/2022062501/56815f50550346895dce2e8b/html5/thumbnails/18.jpg)
Check Register• A record keeping device to record
checks, deposits and service charges.
![Page 19: Unit I: Explore](https://reader036.fdocuments.in/reader036/viewer/2022062501/56815f50550346895dce2e8b/html5/thumbnails/19.jpg)
Blank Endorsement• Endorsing (signing) the back of a
check
![Page 20: Unit I: Explore](https://reader036.fdocuments.in/reader036/viewer/2022062501/56815f50550346895dce2e8b/html5/thumbnails/20.jpg)
Check• A legal document that functions like
cash.
![Page 21: Unit I: Explore](https://reader036.fdocuments.in/reader036/viewer/2022062501/56815f50550346895dce2e8b/html5/thumbnails/21.jpg)
Unearned Income• Money given to you but not requiring
work i.e. food stamps, pensions, unemployment
![Page 22: Unit I: Explore](https://reader036.fdocuments.in/reader036/viewer/2022062501/56815f50550346895dce2e8b/html5/thumbnails/22.jpg)
Restrictive Endorsement• Signing your name on the back of a
check specifying what account the check is deposited in.
![Page 23: Unit I: Explore](https://reader036.fdocuments.in/reader036/viewer/2022062501/56815f50550346895dce2e8b/html5/thumbnails/23.jpg)
Earned Income• Money that is earned by you i.e.
wages, salary, commission
![Page 24: Unit I: Explore](https://reader036.fdocuments.in/reader036/viewer/2022062501/56815f50550346895dce2e8b/html5/thumbnails/24.jpg)
Special Endorsement• Endorsing a check and assigning it to
another person
![Page 25: Unit I: Explore](https://reader036.fdocuments.in/reader036/viewer/2022062501/56815f50550346895dce2e8b/html5/thumbnails/25.jpg)
Saving Account• An account used to earn interest with
more restrictions to access
![Page 26: Unit I: Explore](https://reader036.fdocuments.in/reader036/viewer/2022062501/56815f50550346895dce2e8b/html5/thumbnails/26.jpg)
Commercial Bank• Type of bank used by consumers and
business to perform daily transactions