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Which of the following is the best description of a debit card?
It allows you to access the money in your checking or savings account electronically to make purchases.
What is money in a checking account called?
Money in a checking account is called demand deposit.
What if its disabilty money in your checking account how would a lien work then?
if you have a lein on you, can they take your disabilty money out of your checking account
What is the statute of limitations on coming back and collecting money owed for a loan that the balance was zeroed out but money never taken out of a checking account electronically?
There is no statute of limitations on federal student loans under any circumstance.
Why is a checking account more convenient is savings account?
It's easier to spend the money in a checking account.
Is a checking account an asset?
From the account holders perspective yes a checking account is an asset. The amount of money you have in your checking account is your asset. From the banks perspective it is a liability because whenever you want your money, the bank has to give it to you.
What are the disadvantages of using checking accounts?
Many checking accounts do not offer interest on the money in your savings account. This is a disadvantage because the money you put in a savings account will collect interest, where a checking account will not.
What are electronic transfers?
the transfer of money from one account to another electronically
Do you paid taxes on checking account?
The only tax you would pay on money in a checking account is any interest the money made if it is a interest type of account.
Is the amount of money in your checking account called your allowance?
No, the proper banking term is balance for an amount in a checking account.
What limit can you put in a checking account in Florida?
what limit of money can you put in your checking account in Florida bank of America
What is a checkbook?
It is a booklet used to record checking account transactions. To keep track of the amount of money in your checking account
