Physical Checks
The line that lists who the check is being written to
Pay to the Order of
The employee's that deal with daily operations
Bank Teller
The term used when money is deposited into your account
Credit
The term used when money is withdrawn from your account
Debit
The percentage at which the CD earns interest over its term.
Interest Rate
What the check is written for
Memo Line
A machine that allows you to perform basic banking transactions, such as withdrawing cash or checking your balance
ATM
Checking accounts are commonly used for
Short-Term/Daily Expenses
Savings accounts are commonly used for
Long-term Expenses
What does the term "CD" stand for?
Certificate of Deposit
Legal amount the check is taken for
Written out amount
FDIC
This is linked to your checking account that allows you to make purchases and withdraw cash from ATM
Debit Card
Money set aside in a savings account to cover unexpected expenses
Emergency/Rainy Day Fund
The date when the CD reaches the end of its term, and the principal amount can be withdrawn without penalty.
Maturity Date
The information listed in the top left corner on a check
Customer's information
An electronic network for financial transactions, including direct deposits and automatic bill payments.
Where funds, such as salaries, wages, or other payments, are electronically transferred directly into a recipient's bank account.
Direct Deposit
What does APY stand for?
Annual Percentage Yield
The option that does NOT renew the CD for another term after it reaches maturity.
Non-renewable CD
The 9-digit number associated with the bank
Routing Number
When a transaction is attempted, but there isn't enough money in the account to cover it. The abbreviation is NSF.
Non-Sufficient Funds
A record you maintain to track deposits, withdrawals, and account balances for your checking account.
Check Register
How often interest is paid to your account and withdrawals "reset"
Quarterly
The initial amount of money deposited into the CD.
Principal