| A | B |
|---|
| financial institution | Banks, credit unions, and savings and loan associations are examples of this |
| service charge | a fee banks charge for having a checking account or writing out a certain number of checks |
| checking account | also called a deposit deposit--an account that allows depositors to make payments |
| overdraft | a check written for more money than your account contains |
| payee | people or business named in the check |
| bank statement | Sent to a depositor each month--Lists all activity for the account during that month |
| blank endorsement | payee signs the back—exactly as it appears on front |
| restrictive endorsement | restricts/limits the use of a check--For Deposit Only--then signature |
| special endorsement | transfers ownership to someone else--Pay to the Order of Adrian Peterson--then signature |
| endorsing a check | transfers ownership of a check |
| floating a check | you know the account doesn’t have enough money in it—but you write a check anyway |
| certiifed check | a personal check that the bank guarantees is good--Check is written then taken to bank -– bank stamps “certified” and puts a hold on that amount in your account |
| cashier's check | also called a bank draft - check that the bank writes from its funds--Bank takes payment out of your account—then teller makes out cashier’s check and bank officer signs it |
| reconciling the bank statement | matching your checkbook register with the bank statement--Should be done each month |
| 6 months | After this time--the bank might not honor/cash the check |
| safety deposit box | Place to store valuable small items Yearly fee – based on size of box ($25 - $100) Birth certificates/marriage certificates/stock and bond certificates/jewelry Items won’t be stolen – lost Sign a card to allow entry to your box |
| ink--not pencil | how the check should be written |
| mailing a check or leaving it with someone to take to the bank for you | Why you should use a restrictive endorsement |
