Answers to question from www.kidsbank.com  

1. What is bartering?    It is the old way in which people used to trade.  Today bartering would be exchanging something you want for money.

2.  What do we call the different value of money?    Denominations.

3.  Where do banks keep money?   In a vault.

4.  What is an account?   When you let the bank hold your money.

5.  Who counts your money at the bank?  A teller.

6.  What do you use to deposit money in the bank?  A deposit slip.

7.  What is interest?   The bank uses your money to make more money.  The bank pays you a certain amount of money for letting them use your money.

8.  How do you get interest?  You let the bank use your money for a while.  Like lending your money to the bank and then they pay you back what they owe you plus a little bit more.

9.  Why does the bank give it to you? As a reward for lending them the money.

10.  What is a check?  A promise you make someone that you will pay them what you owe.

11.  How does a check work?    When you write a check your bank pays the promise you made to someone with the money you have in the bank.

12. What is a cancelled check?  When your check or promised has been paid the check shows it was paid.

13.  What is an endorsement?  When you sign your name in back of a check.

14.  What is a bounced check?  When you do not have the money in the bank to pay your promise.  The bank will give you back the check and now you have to pay your promise and some more for not being responsible in having the money in the bank to back up the check.

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