Checking Accounts

liquid assets = cash or items you can quickly convert to cash without losing significant value
checking account = a financial account designed for daily use and spending, such as withdrawing cash from ATMs or buying groceries with a debit card
debit = to take money out of an account or keep a record of this
debit card = a payment card that can be used in place of cash to make purchases
direct deposit = an electronic payment method where funds are deposited directly into a bank account without the use of physical checks
overdraft = a loan provided by a bank that allows a customer to pay for bills and other expenses when the account reaches zero