Basics
Parts Of A Check
Endorsing A Check
Types of Checking Accounts
Terms
100
A written order to a bank to pay the amount stated to the person or business named on it
What is a check
100
A number in the top right corner of the check, used to identify the check
What is the check number
100
A check cannot be cashed until it is this
What is endorsed
100
An account opened by two or more people; also called a suvivorship account
What is a joint account
100
A booklet used to record checking account balances
What is a checkbook register
200
A checking account can also be called this, because the money can be drawn "on demand"
What is a demand deposit
200
The person or company to whom the check is made payable
What is the payee
200
The signature of the payee written exactly as his or her name appears on the front of the check
What is blank endorsement
200
Banks offer this to costumers who have a small amount of activity on their accounts each month
What is a special account
200
Each time one makes a deposit, one completes this
What is a deposit slip
300
A check that has cleared your account
What is a canceled check
300
Filling out of this is optional; provides a place to write the purpose of the check
What is the memo line
300
And endorsement that transfers the right to cash the check to someone else
What is special endorsement
300
This account usually has a small or no monthly service fee and no per-check fee; a package is normally offered with this type of service.
What is a standard account
300
The process of matching your checkbook resister with the bank statement is known as this
What is reconciliation
400
A check written for more money than your account is worth
What is overdraft
400
The amount of money paid, written out in word form
What is written amount
400
Restricts or limits the use of a check; for example "For deposit only"
What is restrictive endorsement
400
A checking account that earn interest, and must have a certain balance. A money market account is an example
What is an interest-bearing account
400
When you take money out of your account
What is withdrawal
500
A check written when there is not enough money in the account, but you hope to deposit money before it clears; this is illegal in most states
What is floating a check
500
The amount of the check, written in number form
What is the numeric amount
500
The payee named on the check signs the top part of the back of the check in ink
What is how to endorse a check
500
Checking accounts with low (or no) average daily balance requirements and generally no service fees; offered by most credit unions
What is share accounts
500
Your personal identification number
What is your PIN
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