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Chapter 29

Section 29.1 The basics of checking accounts-29.2 account records-allcorn

QuestionAnswer
A written order directing a bank or other financial institution to pay money on demand to the person or company named on it Check
Allows electronic transfers of payments directly from the payers account to the account of the person being paid Direct Deposit
An account that earns interest on the balance for the depositor Interest-Bearing Account
A record of an account holder's signature used to verify identity Signature Card
Means that the account owner has written checcks for more money than the balance in the account Overdrawn
A line of credit for overdrawn checks Overdraft Protection
An order for a bank not to cash a particular check Stop Payment
A bank card that immediately takes money from a checking account when it is used Debit Card
An urgent request Demand
To examine and note the similarities or differences of Compare
Shared by two or more parties Common
To devise for a specific function or end Designed
SECTION 29.2 ACCOUNT RECORDS
A check book log in which an acount holder records checking account transactions Check Register
The signaure of the payee on the back of the check Endorsment
The banks record of all the transactions in a checking account Bank Statement
Checks that have been cashed Canceled Checks
The process of seeing hwether an account holders records agree with the banks records for the account Bank Reconciliation
Checks that have been written but have not yet been cashed Outstanding Checks
The party to whom the check is written or who is cashing the check Payee
The party who wrote the check and is paying the money or drawing it from an account Drawer
The financial institution where the drawer has an account Drawee
An established or selected course, travel, or action Route
Discober signs, evidence or remains of Traces
HAving legal efficacy of force Valid
The act of making something different Alteraion
Created by: hannah_allcorn
 

 



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