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| money deposited with a savings institution for investment and/or safekeeping purposes |
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| Items of monetary value (i.e, house, land, car), owned by an individual or company |
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| An establishment for lending, issuing, borrowing, exchanging, and safegaurding money. |
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| An outstanding amount of money. In banking, balance refers to the amount of money in a particular account. In credit, balance refers to the amount owed. |
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| a check which a bank has refused to cash. |
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| A "used" check that has been paid and subtracted from the check-writer's account. Canceled checks have extra writing on them from the bank. They are mailed to the writer each month with the statement, though some banks keep microfilm records instead. Canceled checks are excellent receipts that should be kept for refrence and tax purposes. |
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[1] Money in the form of paper and coins(i.e, U.S. dollars and cents)
[2] In banking, the act of paying a check. |
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a check issued by a bank on its own funds rather than by of the depositors.
(audrey's notes)
*has got to filled out to a specific entity. (the bank has to know who you are giving it to before you give it.)
*a lot like a money order. |
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| A savings account in which an individual promises to deposit the money for a set period of time, for which the bank pays higher interest than a regular savings account. |
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| Any written document instructing a bank to pay money from the writer's account. |
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| An account for which the holder can write checks. Checking account pay less interest than a savings account. |
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| A check "clears" when its amount is subtracted from the payer's account and added to the payee's account. |
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| Non-governmental financial institution. Sometimes xcalled full-service banks because they provide a wide range of services, such as checking and savings accounds, credit and load arrangements, and safe deposit rentals. Commercial banks also sell and redeem U.S. savings bonds. |
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| Interest calculated not only on the original principal but also on the interest already accured. |
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| Money-- anything used as a common medium of exchange. In practice, current means cash, particulary paper money. Bankers often used the phrase "coin and currency" to refer to cents and dollars. |
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| A bookkeeping term for a sum of money owed by an individual or institution; a charge deducted from an account. |
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| An amount of money put into a sacings or checking account; the act of putting money into a bank account. |
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| An individual or company who puts money in a bank account |
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| An itemized slip showing the exact amount of paper money, coin, and checks being depostited to a particular account |
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| To write the payee's own signature on the back of a check before cashing, depositing, or giving it to somebody else. The first endorsement must be made by the payee to authorize the trasaction. Later endorsements may be made by whomever receives the check. |
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| A governmental agency established by Congress to organize and regulate banking throughout the United States. The 12 reserve banks keep paper and currency reserces for affiliated banks. |
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| The fee paid for the use of money. Interest may be paid, for example, by an individual to a bank for credit use, or by a bank to an individual for holding a savings account; interest is expressed in terms of an annual percentage rate (APR) |
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| A savings or checking acccount established in the nameds of more than one person. (i.e, parent/child, wife/husband). |
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| Money owed to individuals, businesses, or instituitions. |
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| Anything gernerally recognized as a medium or exchange. |
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| A check written for more money than is currently in the account. If the banks refuses to cash the check, it is said to have "bounced". |
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A booklet given by the bank to the depositor to recore deposits, withdrawls, and interest earned on a savings account.
(checkbook) |
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| An individual or company to whom a check is written; one who receives money as payment. |
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| An individual or company who writes a check; one who gives money as a payment. |
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| A bank account which accrues interest in exchange for use the money on deposit. The depositor is usually allowed an unlimited amount of deposit and withdrawals. |
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| A small monthy fee a bank charges for handling a checking account. |
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| A request made to a bank not to pay a specific check. If requested soon enough, the check will not be debited from the payer's account. Normally there is a charge for this service. |
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| An amount of money taken out of an account. |
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| When you take a check that you've earned and trasnfer it to someone else's account. |
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| not useful check. Void. Can't use it. |
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| When you put the date of a future day when you know you can pay for the check so that the person cashing it can't cash it until that date. |
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| When the bank freezes your account so that you can't make any transactions or write/pay and checks. |
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An ATM card that allows you to make withdrawls directly from your account.
*(But you have yo have the money there in your account)* |
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When you make a check you wrote to someone, who has not cashed it yet, void for various reasons.
*Costs money to do* |
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You make void a check by writing VOID on a check you've already made but you do not want to make valid. (Canceling a Check)
*Or you can make a check void by tearing it up as well* |
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A garuntee check from the bank that is direct and cant be bounced. It can be left blank. (doesn't have to be made out to anyone.)
** can be used as money ** |
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Like Cash:
--- check you sign with the bank, goes in system.
--- more protection: more likely to get it back if stolen
--- must sign twice. [first time at bank, second time when using to make valid]
--- will receive cash back for leftover denominations. |
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| Time between writing a check before the amount is removed from your account. |
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| when the check is void, usually because of overdraft. Pay double fees. |
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