Term | Definition |
check | written order directing a bank to pay money on demand to the person or company names on it |
direct deposit | the electronic transfer of a payment directly from the payer's bank account to the account of the person being paid |
interest-bearing account | an account that earns interest on the balance for the depositor |
signature card | a record of a bank customer's signature used by the bank to verify the customer's identity |
overdrawn | having written checks for more money than the balance in the account |
overdraft protection | a line of credit for overdrawn checks |
stop payment | an order for a bank not to cash a particular check |
debit card | bank card that immediately takes money from a checking account when it is used |
check register | checkbook log in which an account holder records checking account transactions |
endorsement | signature of the payee on the back of the check |
bank statement | the bank's record of all the transactions in a bank account |
canceled checks | checks that have been cashed |
bank reconciliation | process of seeing whether an account holder's records agree with a bank's records for an account |
outstanding checks | checks that have been written but have not been cashed |
demand | an urgent request |
common | shared by two or more parties |
compare | to examine and note the similarities or differences of |
design | to devise for a specific function or end |
route | an established or selected course, travel, or action |
trace | discover signs, evidence, or remains of |
valid | having legal efficacy or force |
alteration | the act of making something different |