| A | B |
|---|
| financial institutions | banks, credit unions, and savings & loan associations are examples of |
| checking account | A banking service in which a customer deposits money and writes checks to withdraw at his or her convenience. |
| demand deposit | An account on which the depositor can demand money at any time |
| overdraft | occurs when a depositor writes a check on an account that is insufficient to cover a check |
| payee | person to whom a check is made payble to |
| drawer/maker | person authorized to write checks on an account |
| currency | paper money in the form of dollar bills, fives, tens, etc. |
| checkbook register | record of checks written & deposits made in a checking acct., kept by the depositor |
| bank statement | sent by the bank regularly, lisitng checks and deposits processed by the bank, as well as charges & credits to the acct |
| canceled | check that has been processed by the bank and has been subtracted from the depositor's acct |
| blank endorsement | payee simply signs his or her name as it appears on the front of the check |
| restrictive endorsement | limits the negotiability of a check, i.e. "For Deposit Only" |
| floating a check | to write a check when you know there are temporarily not enough funds to cover the check |
| certified check | check guaranteed by the bank |
| cashier's check | check drawn against the bank's own funds |
| reconciliation | process of matching your checkbook register with the bank statement |
| stop payment order | a request to the bank not to cash a check |
| special endorsement | an endorseent signing a check over to a third person |
