Checking Account Basics
Opening a checking account
Endorsements
Banking Services
Bank Services
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
The process of matching your checkbook register with the bank statement
What is bank reconciliation
100
signature of the payee written exactly as his or her name appears on the front of the check
What is a blank endorsement
100
A bank that offers every possible kind of service, from savings and checking accounts to credit cards, safe deposit boxes, loans and ATMs
What is a full service bank
100
Your checks will still be covered even if you have insufficient funds in your checking account.
What is overdraft protection.
200
Another name for a checking account because the money may be withdrawn at any time on demand.
What is demand deposit.
200
Booklet used to record checking account transactions.
What is checkbook register
200
Otherwise known as an endorsement in full. Transfers the right to cash the check to someone else.
What is a special endorsement
200
a personal check the bank guarantees or certifies to be good
What is a certified check
200
A request that the bank not honor a specific check
What is stop-payment order
300
A check that has cleared your account
What is canceled check
300
To open a checking account you must fill out and sign a
What is signature authorization form
300
You should complete a _______ each time you want to deposit money in your account.
What is a deposit slip
300
Also known as a bank draft. a check written by a bank on its own funds
What is a cashier's check
300
This stores valuable items and documents
What is a safe deposit box
400
A check written for more money than your account contains
What is an OVERDRAFT
400
shows the amount of dollars and cents being paid
What is written amount or legal line
400
Limits the use of a check
What is a restrictive endorsement
400
check forms in specific denominations that are used instead of cash while traveling
What is a traveler's check
400
A person or institution that manages property for the benefit of someone else under a special agreement.
What is a trustee
500
Many people write checks hoping to deposit money to cover them before they clear
What is a floating check
500
The person authorized to write checks on the account
What is the maker or drawer.
500
When two or more people are named as payees, all must endorse the check if the names are separated by
What is "and"
500
plastic card that deducts money from a checking account almost immediately to pay for purchases.
What is a debit card
500
This uses a computer based system that enables you to move money from one account to another without writing a check or exchanging cash
What is an electronic funds transfer (EFT)
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