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Checking Acct
Vocab for simulation
| Question | Answer |
|---|---|
| Checks which the bank has paid and returned with your statement | Cancelled Checks |
| Checks which you have written but the bank has not yet returned to you. | Outstanding Checks |
| A bank listing of checks paid, deposits and service charges | Bank Statement |
| To make the bank statement balance agree with your checkbook balance | Reconcile |
| To sign your name on the back of a check payable to you. | Endorse |
| A bank form used to put money into your account | Deposit Slip |
| What you write across a check if you make an error | Void |
| What should checks always be written with | Pen |
| A personal record of checks written and deposits made is kept in your ? | Check Register |
| Where should cancelled checks be kept? | A Safe place |
| What is the form you fill out to put money in your account? | Deposit Slip |
| What is a written order of payment called? | Check |
| What is an endorsement with only your signature called? | Blank Endorsement |
| What endorsement should you use to restrict a deposit? | Restrictive Endorsement |
| What endorsement do you use to transfer a check from one person to another? | Endorsement in full |
| What would a deposit appear as on your bank statement? | Credit |
| Can a cleared check bounce? | No |
| What do you call the individual who appears after "Pay to the Order of"? | Payee |
| What would a service charge appear as on your bank statement | Debit |
| What is the individual called who signd the checks? | Drawer |
| What kind of check guarantees the check will not bounce? | Certified Check |
| How fast are wired funds available? | Imediately |
| When can a stop payment order be issued? | before the check clears the bank |
| Who can cash a check that has a blank endorsement on it? | Anyone |
| What is the fastest way to receive money | To wire it |
| How long does it take a deposited check to clear | 3-7 days |