What is a slip of paper filled out to allow a bank to take money from a checking account to pay for a purchase?

• A. Debit
• B. Electronic payment
• C. Credit
• D. Check

Answer: (D)

A check is a written document that orders your bank to pay a specific amount from your checking account to the person or business named on it. When you fill it out, you put the date, the amount in numbers and in words, the recipient’s name, and your signature. The bank then transfers those funds when the check is deposited or cashed. This is different from a debit (an electronic withdrawal from your account), an electronic payment (any digital transfer), or credit (borrowing money to pay later). So the slip of paper that authorizes the withdrawal is a check.