CHECKING 1
The amount of money you have in your bank account
Balance
Checks the bank has paid. They will appear on your bank statement.
Canceled Check
A written order to the bank that tells it to take a stated amount of money from your account and pay it to another
Check
A handy portfolio that holds your check register, checks, deposit slips, receipts, and other ATM/debit card transactions.
Checkbook
A record that allows you to keep track of checks you have written, ATM/debit card transactions, as well as deposits and withdrawals.
Check register
A sum of money deposited INTO an account. You can use a credit to charge merchandise or borrow money.
Credit
A sum of money deducted from your account.
Debit
A plastic card that enables you to do ATM transactions and to make purchases instead of using cash or writing a check.
Debit card
Money you put into your account.
Deposit
A form you fill out to credit money to your account when you make a deposit.
Deposit slip
Your employer automatically deposits your paycheck into your account.
Direct Deposit
To sign the back of a check made out to you so it can be cashed or deposited.
Endorse
A fee paid to you for keeping your money in the account or a fee charged to you for a loan or credit card
Interest
To write a check or make a withdrawal when there isn't enough money in the account to pay for it.
Overdraw
To write a future date on a check
Post-date
To "balance" your checking account with your monthly statement from the bank.
Reconcile
The bank's accounting of your transactions
Bank Statement
A check with "VOID" written across it makes it non-negotiable.
Voided check
The monthly record of your account transactions sent to you by your bank
Statement
This is the initial amount of money deposited into a savings account, on which interest is earned.
What is the principal?
The person to whom the check is made payable.
Payee
A check that has been written but not yet deducted from the person's bank account.
Outstanding Check
This area is typically in the lower right corner and requires your signature to validate the check.
What is the signature line?
This nine-digit number is found at the bottom of a check and identifies your bank
What is the Routing #
An online process that allows you to send money directly from your checking account to a friend via email or cell phone Cash App or Venmo
Person to person payment or P2P