Checking Accounts
This refers to a check that is written for an amount over the current balance held in the account.
What is a bounced check?
This type of endorsement allows anyone to cash or deposit the check after the check has been signed by the receiver of the check.
What is a blank endorsement?
Debit cards require using this four-digit number to access the account to perform transactions.
What is a PIN number?
A bank reconciliation begins by adding the new bank statement balance to this, then determining your subtotal.
What are outstanding deposits?
This refers to the automatic deposit of a paycheck without having to take a physical check to the bank.
What is a direct deposit?
A common financial service used by many consumers. They can help to manage money and make paying bills more convenient.
What is a checking account?
This refers to signing the back of a check to approve it to be deposited or cashed.
What is an endorsement?
This is given as a record of the date, money spent, and location of a transaction when using a debit card.
What is a receipt?
This is a transaction that has not cleared the bank and therefore not listed on the bank statement.
What is an outstanding transaction?
This contains the account holder's account number and allows money (cash or check) to be deposited into the correct account.
What is a deposit slip?
These are the series of numbers located on the bottom of a check that identify the banking institution.
What are routing numbers?
This endorsement allows the check to be transferred to a second party if the receiver signs the back and writes 'pay to the order of' and fills in the persons name.
What is a special endorsement?
This is a plastic card that looks like a credit card, but is electronically connected to the cardholder's bank account for purchase.
What is a debit card?
These are mailed monthly and listing each monetary transaction and current account balance and are used in the reconciliation process.
What is a bank statement?
This line must be signed on a deposit slip when receiving cash back.
What is a signature line?
This refer to the person for whom a check is being written.
What is a payee?
This refers to the person who must sign, or endorse the back of a check in order to receive funds.
What is a payee?
A debit card is valid and may be used until this date.
What is the expiration date?
This refers to balancing a checkbook register each month to the balance shown on the statement.
What is reconcile?
These are found in the back of a checkbook and contain the account holder's account number and allows money to be deposited into the correct account.
What is a deposit slip?
This refers to a piece of paper used at the time of a purchase as a form of payment.
What is a check?
This endorsement is more secure than a blank endorsement because the receiver writes 'for deposit only,' and the account number where the money will be deposited, above the signature. This allows the check to only be deposited.
What is a restrictive endorsement?
Debit cards can be used at these electronic computer terminals, where you can withdraw cash or deposit funds into an account.
What is an ATM?
Failure to reconcile your bank account can lead to this.
What are mistakes or errors?
This is the information located on the back of a deposit slip.
What are checks and their amounts?