Check Basics
What is a certified check?
This is a check the bank guarantees because funds are verified.
What is NSF (Non-Sufficient Funds)?
This happens when there is not enough money in your account to cover a check.
What are debit card, credit card, and cash?
Three common ways to pay.
What is Automated Teller Machine?
ATM stands for this.
What is a check register?
A record book that tracks all your transactions.
What is a cleared check?
This means a check has fully processed and the money left the account (about 5 days).
What is a bounced check?
A check that cannot be processed because of insufficient funds.
What is a pre-authorized payment?
An automatic payment set up to pay a company regularly.
What are withdraw cash and check your balance?
Two things you can do at an ATM.
What is a signature card?
This form is signed when opening a bank account and kept on file.
What is write “VOID”?
If you make a mistake writing a check, you must do this across the front.
What is a service charge (or fee)?
A mandatory extra charge added for services like ATM use.
What is direct deposit?
Money automatically deposited into your bank account electronically.
What is a PIN (Personal Identification Number)?
A secret number used to access your account at an ATM.
What is your signature and account information?
What is found on a signature card?
Who is the drawer?
The person who writes and signs the check.
What is an ATM withdrawal fee?
An example of a service charge.
What is a wire transfer?
An electronic transfer of money through a network of banks.
What is so the bank can correctly identify the payee?
Why spelling is important when writing a check.
What is to track spending and prevent theft?
Why a check register is important.
What is endorse?
Signing the back of a check is called this.
What is a stop payment order?
A request to stop the bank from processing a check.
What is EFT (Electronic Funds Transfer)?
Electronic movement of money without paper checks.
What is yes?
Are the “For” and “Memo” lines the same thing?
What is a blank endorsement?
This type of endorsement is signed but does not name a specific payee.