| A | B |
|---|
| checking account | An account for which the holder can write checks. |
| account | A “used” Money deposited with a financial institution for investment and/or safekeeping purposes. |
| bank | An establishment for lending, issuing, borrowing, exchanging, and safeguarding money. |
| bounced check | A check that a bank has refused to cash or pay because there are no funds to cover it in the account. |
| canceled check | A “used” check that has been paid and subtracted from the check-writer’s account. |
| cash | Money in the form of paper and coins (e.g., U.S. dollars and cents). |
| cashier’s check | A check issued by a bank, drawn on its own funds rather than on one of its depositors. |
| check | Any written document instructing a bank to pay money from the writer’s account. |
| clear | When an amount on a check is debited (subtracted) from the payer’s account and credited (added) to the payee’s account. |
| debit | A charge deducted from an account. |
| credit union | A member-owned financial institution, either state or federally chartered. |
| deposit slip | An itemized slip showing the exact amount of paper money, coin, and checks being deposited to a particular account. |
| endorse | To write the payee’s own signature on the back of a check before cashing, depositing, or giving it to someone else |
| joint account | A savings or checking account established in the names of more than one person (e.g., parent/child, wife/husband). |
| money | Anything generally recognized as a medium of exchange. |
| overdraft | A check written for more money than is currently in the account. If the bank refuses to cash the check, it is said to have “bounced.” |
| service charge | A monthly fee a bank charges for handling a checking account. |
| stop payment | A request made to a bank to not pay a specific check. |
| withdrawal | An amount of money taken out of an account. |
| terms | The period of time and the interest rate arranged between creditor and debtor to repay a loan. |
