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Chapter 7

Checking/Banking Terms

AB
currencypaper money and coins used for financial transactions
checkan order to a bank to pay a specified sum to the person or buisness named.
payeethe person or buisness to whom the check has written.
overdrawingwriting a check for more than is deposited in your checking account.
federal deposit insurance corporationa federal government agency that insures deposits in banks.
statementa written record from your bank of all the transactions involving your account.
check registera booklet for recording your checking account transactions.
account balancethe total amount in your bank account.
endorsementyour signature on the back of a check
canceled checka check with the bank's stamp on it, indicating that it has been payed.


Mrs. Bender

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