Idea 3of 23Builds onDebit takes it from the account
One account down, one account up
When money moves between two accounts, what happens to each?
Today you'll discover
- what an e-transfer does to two accounts
- why the total stays the same
- how pay can arrive by itself
Think firstMia sends Leo $25 by e-transfer
Mia has $80 and Leo has $30. After Mia sends $25, how much does each have?
Decide first, then press Next. Watch both boxes: one goes down, one goes up.
Two boxes: Mia's account with $80.00 and Leo's with $30.00. An arrow labelled e-transfer carries $25.00 from Mia to Leo. After, both show $55.00, with the working under each. A check along the bottom: before, $80 + $30 = $110; after, $55 + $55 = $110. Then a bakery's $640 direct deposit takes the aunt's account from $210 to $850. The last step asks about Noor sending Sam $18.
See the whole ideathe big idea and the key word, in one place
The big idea
An e-transfer moves money from one account to another: one goes down, the other goes up.
Check the totalBefore and after a transfer, the two accounts add to the same total: $80 + $30 and $55 + $55 are both $110.
Easy to get wrongAn e-transfer needs a bank account at each end. Cash needs no account, but it cannot travel across the province in a minute.
Key words
- e-transfer
- money sent from one bank account to another person's account, using their email or phone number
- direct deposit
- pay that an employer puts straight into a worker's bank account
Ready to use it?
- Find both balances after a transfer.
- Check that the total stays the same.