Term
American Bankers Association
(ABA) |
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Definition
| This number identifies the bank which the check is drawn by its location. |
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Term
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Definition
| happens when there isn't enough money in the account of process the check. These checks are returned to the drawer of the check and a fee ($35) is charged |
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Term
automated teller machine
(ATM) |
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Definition
| a machine that automatically provides cash and performs other banking services on insertion of a special card by the account holder. |
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Definition
| A listing from the bank of paid checks, deposits, charges against the account and a final balance |
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Definition
| Signing the back of a check before cashing or depositing the check.
Allows anyone to cash a check if it were lost or stolen. |
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Definition
| checks that have been deducted from your account |
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Term
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Definition
| is a written order used to tell a bank to pay money or to transfer funds from an account |
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Definition
| provides a record of each check number and date, the amount of each check, deposits,fees, and the balance in the checking account |
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Definition
| Includes checks along with a record of checks written on the account and deposits made into the account. |
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Term
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Definition
| An account opened at an institution (bank or credit union) that provides a method for payment on deposits in that institution |
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Definition
| A card that contains a code number (PIN) so the account holder can withdraw funds, make purchases, and make deposits in their account electronically. Using a debit card instantly makes cash withdraws from the account. |
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Definition
| the money in the account is available by the customer writing a check, making a withdrawal or transferring funds.
Most common type of checking account
Also called a "regular" checking account |
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Term
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Definition
| a sum of money placed or kept in a bank account |
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Definition
| This form is completed when cash and/or checks are deposited to a checking account. |
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Definition
| The person completing the deposit slip |
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Definition
| The drawer's (the person who writes the check) bank |
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Term
electronic funds transfer
(EFT) |
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Definition
| an electronic exchange, transfer of money from one account to another, either within a single financial institution or across multiple institutions, through a computer system |
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Definition
| Endorsement used when the payee wants to transfer a check to another party written as "Pay to the order of...." and then signed by the drawer of the check. |
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Term
| interest-bearing checking account |
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Definition
| A checking account that pays interest on the average balance held in the account. |
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Term
| money market mutual fund account |
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Definition
| A checking account with pays market (stock market) interest rates. These interest rates are usually much higher than a "regular" checking account |
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Definition
| allows customers of a financial institution to conduct financial transactions on a secure website operated by the institution |
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Definition
| checks that have been written and deducted by the depositor from the check register but have not been received by the bank in time to be included on the current bank statement |
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Definition
| deposits that have been made by the depositor but have not been received by the bank in time to be included on the current bank statement |
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Definition
The person or business to whom the check is written.
A check authorizes the bank to pay a certain amount from the checking account to the individual or business.
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Term
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Definition
| process of adjusting the balance in a checkbook to the bank statement so both balances agree |
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Definition
| Every month when you reconcile your account, you may use this form to assist in the process. Many times it is printed on the back of your bank statement |
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Definition
| Endorsement used that allows the payee only to deposit a check into his or her account. Sometimes uses the words, "For Deposit Only". |
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Definition
| refers to the amount currently in a checking account |
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Term
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Definition
| sometimes called "bank charges" are fees charged to the depositor by the bank. These may include fees for printing checks, paying checks, etc. |
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