BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Just sign your name on the front of the check
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Sign your Aunt Louise’s name on the back of the check
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Sign your name and write “For Deposit Only” and your checking account number on the back of the check
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Since the check is made out to you, you don’t need to worry about signing the check
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Detailed explanation-1: -Checking account: A checking account offers easy access to your money for your daily transactional needs and helps keep your cash secure. Customers can typically use a debit card or checks to make purchases or pay bills.
Detailed explanation-2: -You can go the more traditional route: visiting a physical bank or credit union branch, or stopping by an ATM. Or if you’d rather avoid the extra errand, you may be able to use a mobile banking app on your smartphone or tablet to deposit your check electronically.
Detailed explanation-3: -To access their funds, they can write checks, use ATMs, or use electronic debit or credit cards connected to their accounts.
Detailed explanation-4: -This is referred to as a “bounced check.” The check bounces because it cannot be processed, as there are insufficient or non-sufficient funds (NSF) in the account (the two terms are interchangeable). A bounced check usually incurs a penalty fee to the payor. In some cases the payee is also charged a fee.