Vocab Check
Written form to pay a bill.
Checks
To deposit a check, you must do this on the back first.
Endorse the Check: Write Deposit ONLY Signature
If you had a balance of $423.60 and deposited $100 in the account, this would be your new balance
$523.60
When you have a checking account, you receive this document every month either in the mail or electronically.
Bank statement
You should not carry these in your wallet or purse.
PIN numbers
A place where you record your banking transactions (checks, deposits, ATM, service charges)
Checkbook Register
When you write more checks than you have money in your account your check will do this (just like a rubber ball)
Bounce - be returned because of insufficient funds
If you had $260.00 in your account and wrote a check for $60 at Wally World, this would be the new balance in your check register.
$200
When you are comparing your bank statement against checkbook register for errors, you are doing this to your checking account.
Reconciling
Where can I find the check number on a check?
Upper right hand and
the bottom middle after routing and account numbers.
The form you used when you add money or checks in your checking account
Deposit Slip or Deposit Ticket
The money the bank makes you pay because of a bounced check, or use the ATM or having an account is called this...
Service Charge
Before you were paid, your checking balance was $40.00. You deposit your paycheck of $425.00 into your account. Now your balance is this.
$465.00
When reconciling your checkbook, you discover you forgot to enter a deposit in your checkbook register. This is the step you need to "fix" your mistake.
Enter the deposit in your checkbook register and add the deposit to your balance?
If there is a discrepancy (confusion) between the written amount ($10.00) and the legal amount (Ten & 00/100---------) on a check, which is used?
Legal Amount
How you you write your name for a check.
Signature
Checks that are on your bank statement because the bank received them.
Cleared Checks
You have a $540.00 balance in your checking account before your car payment of $320.00 is withdrawn. This is your new balance after your car payment.
$220.00
Checks, transactions, or deposits that you have made, but is not on the bank statement.
Outstanding Transaction
The set of numbers that are associated with a specific bank.
Routing Numbers
The amount of money you have in your account
Balance
Every action occurring on an account such as a deposit, ATM withdrawal, or check written is called this...
Transaction
Your bank charges a $3.00 service charge for using an ATM machine at another bank, you had a balance of $253.00. You withdrew $50.00 from an ATM at the mall, this is your new balance
$200.00
Is a deposit a debit or credit to your checking account?
Credit +
The set of numbers connect to the personal account of the owner.
Account Numbers - second set of numbers