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Business Finance

Chapter 4 Checking Accounts

TermDefinition
deposit checks, currency, or coins put into a banking account, saving and loan, credit union, or brokerage
direct deposit a deposit electronically transferred from your employer's checking account to your checking account
automatic teller machine (ATM) performs basic banking functions, such as handling check deposits or issuing cash withdrawals
personal identification number (PIN) a personal number on an ATM card that gives you access to your bank account electronically
checking account a deposit account held at a bank that gives you convenient access to your money
check a paper document directing a bank to deduct money from your checking account and make a payment to the person named on the check
check register a record of checking account deposits, withdrawals, and electronic transfers
balance the amount of money you have in an account
bank statement from your bank, lists all activity in your account
service charge charges by a bank, for services rendered, to your account
reconcile to compare your check register with your bank statement to make sure they agree
online banking internet banking allows you to view your account, pay bills, and transfer money anytime
access the ability to enter, use, or approach something
currency a system of money in general use in a particular country
previous existing or occurring before in time or order
transfer move from one place to another
coincide occur at or during the same time
monitor an instrument or device used for observing, checking, or keeping a continuous record of a process or quantity
Created by: winninghamp
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