Checking 1
negative balance in your account
What is overdraft?
taking money from your account.
What is a withdrawl?
money added to your account
What is a deposit?
lists checks, withdrawals, deposits, service charges, interest, and fees
What is a bank statement?
Allows an account holder to withdraw from an account at an ATM and make purchases
What is a debit card?
A check drawn on and issued by the bank. A cashier's check can be used instead of a personal check to guarantee that funds are available for payment
What is a cashier's check?
a written order to a bank to pay a person or business.
What is a check?
A document issued by a bank ordering payment for a specific sum of money to an individual or business.
What is a money order?
the check has not yet cleared the bank account on which it is drawn.
What is outstanding check?
a flat, standard rate, is debited from the account at the end of the month. Banks also charge service charges for using the ATM of a competing bank
What is a service charge?
is the process of adjusting the checkbook register and bank statement so they agree
What is Bank Reconciliation?
A check dated later than it is written, not suggested to take to banks
What is a post dated check?
a demand deposit account on which checks are drawn.
What is a checking account?
Can only be used at ATM locations, automated teller machine
What is an ATM card?
A check that the bank has paid against money or funds in your account.
What is a cancelled check?
Personal identification number
What is a pin/password?
The bank will use available funds in your linked account(s) to authorize your transactions. Fees may apply.
What is overdraft protection.
term used to indicate when an item such as a check, or other transaction presented for payment is returned unpaid because the available balance in your deposit account is less than the amount of the item.
What is Non-Sufficient Funds?
When you ask the bank to not pay a particular check/transaction that you have written on your account.
What is stop payment order?
Fees assessed to an account that does not have enough money, can be up to $35 per transaction
What is overdraft fees?