Chapter 9 - Checking Accounts and Banking Services
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14 terms
Terms | Definitions |
|---|---|
 blank endorsement | An endorsement that consists only of the payee's signature. |
| canceled checks | Checks that have been processed by the bank and returned to you. |
| cashier's check | A check written by a bank on its own funds. |
| certified check | A check guaranteed by the bank to be good. |
| checkbook register | A personal record of checking account transactions. |
| checking account | A banking service in which money is deposited and checks are written. |
| demand deposit | A type of bank account that allows money to be withdrawn at will. |
| draft | A form of check for withdrawing money from a demand account. |
| floating a check | Writing a check on an account without sufficient funds in the hope of making a deposit before the check is cashed. |
| overdraft | A banking term to designate that there are insufficient funds to cover a check that has been written. |
| reconciliation | Comparing your checkbook register with the bank statement each month. |
| restrictive endorsement | An endorsement, such as the words "For Deposit Only," that limits use of the check. |
| special endorsement | An endorsement signing a check over to a third party. |
| stop payment order | Used to prevent payment on a check after it is lost or stolen. |
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