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Banking Vocabulary
Checkings & Savings Account Terms
| Term | Definition |
|---|---|
| Check | A written order instructing a financial institution to transfer funds from one account to another. |
| Cashier's Check | A check drawn on the bank's funds. |
| Certified Check | A personal check written by someone whom is certified as good. Ex: Genuine; Has the Funds |
| Canceled Check | A check paid by the bank, endorsed; and is not negotiable. |
| Outstanding Checks | A check not presented for payment. |
| Floating a Check (Float) | 1. Amount of uncollected funds. 2. The time that elapses between the deposit and presented. |
| Checkbook Register | |
| Check Endorsment | |
| Overdraft | When the amount withdrawn is more than the amount in the account. |
| Overdraft Protection | |
| Stop Payment Order | An order not to pay a check that has been issued but not cashed. |
| Demand Deposit | |
| Deposit in Transit (Outstanding Deposit) | |
| Reconciliation | |
| Money Market Account | |
| Liquidity | |
| Interest | |
| Share Account | |
| Principal | |
| Compound Interest | |
| Certificate of Deposit (CD) | |
| Maturity Date |
Created by:
matt_ryan
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