full service banks; offer a wide range of financial services from schecking accounts to loans to safe deposit boxes and trust accounts.
accept deposits from people and businesses and use the deposits to finance their business.
user-owned, not-for-profit, serving members only.
do not take or hold deposits; earn their money selling specific services or policies.
written evidence that you received payment or that you transferred your right of receiving payment to someone else.
consists of only the endorser's name; most unsafe way to endorse a check.
allows you to transfer a check to another person.
limits the use of the check to the purpose given in the endorsement.
protects depositor's money in case of the failure of a bank; up to $250,000.00.
when 2 or more people have an account together.
checks that have not been deducted from the bank statement balance.
person or business to whom the check is written.
first step in opening a checking account; document is used to verify your signature.
Stop payment order
a written notice that tells the bank not to pay a certain check; banks usually charge a fee for this service.
document created to show how the bank statement and your check register are brought into balance (equal one another).
the report the bank will send (mail or email) you on the status of your account.
a separate book, usually the same size as the checkbook, used for recording account activities.
the owner of the account who signs the check.
the bank or other financial institution that pays the check.
a personal check for which a bank has guaranteed payment.
a check that a bank draws on its own funds; it costs the purchaser the amount of the check plus a fee.
special forms designed for making payments when away from home; helpful when traveling so you do not have to carry cash.
a form of payment that orders the issuing agency to pay the amount printed on the form to another party.
Safe deposit boxes
banks off these for storage of valuables.
Federal Reserve System
a nationwide banking plan set up by the federal government to supervise and regulate member banks.