| A | B |
|---|
| Check | a written order by a depositor telling bank to pay cash to a person or business |
| Savings account | pays you interest on the money you have deposited |
| Checking Account | bank or other institution that allows you to deposit cash and allows you to write checks against your account balance |
| Payee | person to whom the check is written |
| Drawee | party that pays the money to the payee |
| Drawer | person writing the check |
| Individual Account | a type of account that is owned by only one person |
| Joint Account | a type of account owned by two or more people |
| Business Account | a type of account that is owned by a business |
| Signature card | a form that tells the bank you can write checks on an account |
| Deposit slip | form used to put money in the bank |
| Currency | bills |
| Check register | used by the owner of the account to record all transactions |
| Endorsement | signing a check |
| Blank endorsement | just your signature |
| Restrictive endorsement | tells what can be done with the check |
| Special/Full endorsement | transferring a check to another person or business |
| Voiding a check | cancelling |
| Bank Statement | a summary of all activity that takes place in your account |
| Bank Reconcilation | comparing the check register to the bank statement to determine the correct balance |
| Outstanding Check | a check not included on the bank statement but written |
| Outstanding Deposit | a deposit made by the drawer but not recorded by bank on bank statement |
| Commercial banks | offer a full range of financial services |
| Credit Union | not-for-profit financial institution formed by people who have like occupations or live in the same community |
| Debit Cards | used in place of writing checks to make payment for something |
| Direct deposit | allows paychecks to be deposited electronically which saves time and funds are available to the customer immediately |
| FDIC | federal agency that protects depositor's money in case of the failure of a bank. |
| Mutual Savings Bank | owned by depositors and mainly handles savings accounts and home loans |
| Safe-Deposit Boxes | secured area in bank vault for storing valuables |
