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Checking Account Terms
Terms in this set (48)
The amount of money you have in your account.
Checks the bank has paid. They will appear on your bank statement.
A check issued by a bank and sold to you for personal payments to people who won't accept a personal check. It certifies that you have the money available.
A written order to the bank that tells it to take a stated amount of money from your account and pay to another.
A handy portfolio that holds your check register, checks, deposit slips, receipts, and other ATM/debit card transactions.
A record that allows you to keep track of checks you have written, ATM/debit card transactions, as well as deposits and withdrawals.
The part of a check that you keep as record of the transaction if you do not use a check register.
A sum of money deposited into an account. Also the ability to charge merchandise or borrow money.
Paper money in circulation.
A sum of money deducted from your account.
A plastic card that enables you to do ATM transactions and to make purchases instead of using cash or writing a check.
Money you put into your account.
A form you fill out to credit money to your account when you make a deposit.
Your employer automatically deposits your paycheck into your account.
To sign the back of a check made out to you so it can be cashed or deposited.
The signature of the person to whom the check is written is made on the back of the check.
A type of endorsement that states that the check is only to be deposited.
Making the check payable to a third party and preventing anyone else from cashing it.
A place where account information on deposits and withdrawals is exchanged, often electronically.
A fee paid to you for keeping your money in the account or a fee charged to you for a loan or credit card.
An account where more than one person has the right to use it.
An account where only one person has the right to use it.
A form of check payment on which the financial institution prints the exact amount covered. Often used by people who do not have a checking account.
To write a check or make a withdrawal when there isn't enough money in the account to pay for it.
To write a future date on a check.
To "balance" your checking account with your monthly statement from the bank.
Automatic Teller Machine
An activity you conduct on your account such as a deposit, withdrawal, transfer, etc.
A check with "VOID" written across it that make it non-negotiable.
The monthly record of your account transactions sent to you by your bank.
The section of your bank statement that you use to balance your checkbook.
Personal Identification Number needed to use an ATM card.
Someone who keeps up with their checkbook and correct balance.
Why have a checking account?
Safety, Proof of payment, convenience, establishes credit, & budgeting
A card used when opening a new account that includes name, address, birthdate, etc.
A check on which the drawer's signature has been forged.
The person who issues the check.
The person to whom the check is made payable.
A check that has been written but not yet deducted from the person's bank account.
A deposit that has been made but not yet added to the person's bank account.
The amount of money you borrow in a loan.
A loan for a home.
Earning interest on the previous amount of interest earned.
A type of loan on a house, car, furniture, etc.
Credit card or student loan
What you need before you canhave a check OK'd by most retail stores.
What you should always write with on every check.
Something you must write on every check.
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