| A | B |
|---|
| Once you have opened a checking account | your bank will send you an account statement |
| "debt", decreases in cash activity listed in account statement | checks written, ATM, cash card transactions, bank fees |
| "credit", increases in cash activities | primarily deposits you have made, possible interest |
| canceled or cleared checks | deducted from your bank accounts |
| outstanding checks | any checks written, but not cleared at the bank yet |
| reconciling | balancing |
| first step in reconciling bank statement | check off everything where you and the bank agree |
| second step in reconciling bank statement | add missing items from bank statement to your check register |
| Third in reconciling bank statement | finish, write down outstanding checks or deposits, |
| 21 century banking technology | touch-tone banking, direct deposit, ATM, Automatic payee-initiated payments, internet banking, debit cards |
| signature card | must be completed to open a checking account |
| check register or check stub | information provides a permanent record of all the items you have paid by check. |
| always fill this out first before writing a check | check register or check stub |
| must be endorsed before the can be cashed or deposited | checks |
| check clearing process | funds become available as soon as possible |
| blank endorsement | simplest, consisting of nothing more than your signature |
| restrictive endorsement | safer, it states, "For Deposit Only" |
| endorsement in full | used to transfer a check to another person, "Pay to the order of..." |
