Question

1. a debit against your checking account written on a paper form. *

atm
check register
check
bank statement

1. a credit union * 1 point

requires membership, but in other respects is like a bank
cannot keep savings account
never has interest rates as good as banks
is only open to college students

1. overdraft protection: * 1 point

is always a free service provided by banks
is like a credit card; you dont use until your checking account gets below a zero balance
is always a waste of money because people dont bounce checks any more
means you can write one check for more than the amount in your account and never have to repay the difference

Explanation:

• Question 4: A check is a written order directing a bank to pay a specific amount from a checking account. An ATM is a machine for cash withdrawals, a check register is for recording transactions, and a bank statement summarizes account activity.
• Question 5: Credit unions require membership (e.g., based on occupation, community, etc.) and offer services like banks (savings, loans). They can have savings accounts, often have good interest rates, and are not only for college students.
• Question 6: Overdraft protection is like a credit card for checking accounts. When the balance is below zero, it covers transactions. It's not always free, not a waste (as bounced - check fees are worse), and you do have to repay the overdrawn amount.

Answer:

1. check
2. requires membership, but in other respects is like a bank
3. is like a credit card; you don't use until your checking account gets below a zero balance