Terms in this set (32)
an account offered by a bank that allows you to write checks to make payments
an account offered by a bank that offers interest on the balance
a written order to a bank to pay the stated amount to the person or business named on it
your check the bank has paid
it may or may not be returned to you
a check written for more money than your account contains
a bank service that covers checks even if you have insufficient funds in your checking account
floating a check
this is when you realize you don't have enough money in you account but you write the check and hope to make a deposit before it gets to your bank for payment
If the amount written in figures on a check differs from the amount written in words, what will the bank pay?
this is where you keep track of your checkbook transactions
you fill this to put money into your account
When do you sign a deposit slip?
the process of matching your checkbook register with bank statements
a plastic card that deducts money from a checking account almost immediately to pay for purchases
a check written by a bank from its own funds
cash is given to teller or money is taken from account
electronic funds transfer
a way to move money from one account to another without writing a check or using cash
safe deposit box
a place at your bank available to store valuable items or documents
a request to the bank that the bank not process a specific check because it was lost or stolen (fee $25-$35)
automatic bill payment (automatic deductions)
represent money you have authorized your bank or other organization to move from one account to another at regular intervals (bills, donations, etc.)
depositing your paycheck electronically into your bank account
automatic teller machine
ATM stands for...
withdrawal, deposit money, check balance, transfer funds, purchase stamps
Service you can receive at the ATM...
you sign this form so that bank will know how you are going to sign your checks
ATM withdrawal, swipe debit card, write a check, services charges
List 4 different transactions that could be listed in a checkbook register where money comes out of your account
Endorsement: name (only you signature, negotiable (Just like cash), Do not endorse until ready to cash)
Endorsement: For Deposit Only, Bank Name, Account Number, Name (deposit only to your own account, must include your account number and your signature)
Endorsement: Pay to the Order of, Name of Person, Name (transfers the right to cash or deposit a check to somebody else)
VOID (rip it into tiny pieces, shred it)
What do you write on a check if you mess up or need to get rid of it?
Debit Card Transactions
Deposits at the bank
Deposits at the ATM
Debit Card Items Refunded
check stamped by the bank once funds are verified in the account
similar to a check purchase for small fee
can get from store, bank or post office
offers way to finance large items (car, home, vacation, home repairs)
YOU MIGHT ALSO LIKE...
Series 7 Top-Off Exam Preparation | Knopman Marks Guide
Module 5: Financial Services
Personal Finance- Checking Accounts
OTHER SETS BY THIS CREATOR
Spanish Vocabulary Chapter 4: Generations
Marketing Test: Product Development
Marketing Final Semester 1
THIS SET IS OFTEN IN FOLDERS WITH...
EPF Exam Review
Checking Accounts, Checking Accounts
credit and insurance