PBMF 19.1 Personal Banking

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The FDIC insures accounts at national banks and other banks that choose to enroll in the program.

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• ​A bank account that allows the owner to make deposits, write checks, and withdraw money.

• Also called demand deposit accounts because cash can be withdrawn or checks written on demand.

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• minimum balance requirements

• withdrawal limitations

• penalties for overdrafts

• ​maintenance fee

• charges for ATM use

• low-balance penalties

• check-writing fees

• check-printing charges

​Checking Account:
Restrictions & Penalties

• A card that allows the user to electronically access funds in his or her account at an ATM or to pay for goods and services from a business

• Same result as writing a check

​Debit Cards