Checking
Payroll or other types of checks that are directly and electronically deposited into a bank account.
DIRECT DEPOSIT
Deposits that do not appear on the bank statement.
AN OUTSTANDING CHECK
An account in which the bank pays interest for the use of the money deposited in the account.
SAVING ACCOUNT
The act of adding interest of a deposit to an account by a bank.
CREDITING
The money in the bank account that is not released until the issuing bank of a check pays for a check.
HOLD
A number that appears on all checks, deposits slips, and bank statements identifying the owner of the account.
AN ACCOUNT NUMBER
The percentage rate that is paid by a bank on money that is in some accounts.
INTEREST RATE
Interest that is earned on the money deposited into an account plus previous interest.
COMPOUND INTEREST
A numerical Password that allows access to an ATM.
PERSONAL IDENTIFICATION NUMBER (PIN)
An account with more than one owner; all owners have equal access.
A JOINT ACCOUNT
The balance, or amount of money, in an account, or amount borrowed.
A PRINCIPAL
A method for calculating interest so that it is paid twice a year, or every 3 months.
SEMIANNUAL COMPOUNDING
Provides 24-hour bank access to make deposits, transfers, and withdrawals.
AUTOMATED TELLER MACHINE
A fee that some banks charge to provide access to checking of saving accounts.
A MAINTENANCE FEE
Same as balancing; the process of verifying the bank's records to make sure no errors have been made.
RECONCILING
A progression of numbers in which the difference between any two consecutive terms is a constant.
ARITHMETIC SEQUENCE
The receiver of the transferred funds of the person to whom the check is written.
A PAYEE
A record of all transactions in a checking account, including checks written, deposits made, fees paid, ATM withdrawals, and so on.
CHECK REGISTER
The formula I=prt, where p is principal, r is the interest rate, and t is the time in years.
SIMPLE INTEREST FORMULA
A specified date at which interest is paid o money in an account.
MATURITY