Check Writing Definitions
Terms in this set (9)
The party that receives the check.
The party that writes the check (to the payee).
A booklet that is used to keep a record of all your checking related transactions, including checks written and deposits.
A strip on the side of some checks that is torn off. Used to keep record of the amount of the check.
When the payee signs their name on the back of a check to cash or deposit the check.
The amount of money currently in your checking account.
When you write a check for more money than you have in an account.
The minimum amount of money required in your account. Having an amount less than the minimum balance may result in extra service charges or reduced privileges.
An amount the bank charges (fees) for the use of the checking account.
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