| A | B |
|---|
| check | a written order instructing the bank to pay a certain amount of money to another person or place |
| statement | a document that is drafted monthly and shows account balance and all transactions for a certain period of time |
| bank | a financial institution that handles money, including keeping it for saving or commercial purposes |
| direct deposit | an automatic deposit of net pay to a designated bank account |
| cleared check | check that has been paid by your bank and deducted from your account |
| outstanding check | check that has been written and offered but not yet received and paid by the bank |
| deposit | money deposited in a bank or financial institution |
| payee | person, company, or organization to whom a check is written |
| deposit slip | a form that contains an account holders information and allows money to be deposited into a particular account |
| check register | a list of all bank transactions including deposits, checks, deposits, withdrawals and fees |
| forged check | check signed by someone other than who is specified on the check - without permission |
| withdrawal | removal of money from an account |
| stop payment | request that a bank not cash or honor a specific check |
| money market | savings account that requires a minimum balance and earns monthly variable interest |
| bad check | check written against an account with insufficient funds to cover it |
| endorse | signing the back of a check which authorizes it to be exchanged for cash or deposited |
| reconciling | the process of comparing the bank balance and check register so they are equal |
| checking account | an account which allows the holder to write checks against deposited funds |
| debit card | used to deduct money (almost immediately) from a checking account; also called a check card |
| stale check | check that is more than six months old; may no longer be honored by the bank |
| ATM | specialized computer kiosk where bank customers can get cash, make deposits and check balances |
| EFT | a computer-based system that allows you to transfer money in lieu of writing a check or exchanging cash |
| FDIC | U.S. government agency that protects customers (insures deposits) in the event their bank fails |
| NSF | lack of money in an account to pay a payment |
| NCUA | independent federal agency that oversees and insures depositors' money in credit unions |
| PIN | a combination of letters or numbers that you use to access an account |
| ACH | Automated Clearing House - used for many electronic funds transfers |
| blank endorsement | simply signing your name on the back of a check |
| special endorsement | "Pay to (new payee)" with signature |
| restrictive endorsement | "For Deposit Only" with signature |
