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Personal Finance Chapter 9 notecards
same as title
7
Writing
10th Grade
11/30/2010

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Term
check
Definition
a form of payment. can be traced by check # which is on the top right hand corner
not accepted at most stores( risky form of payment)
Term
demand deposit
Definition
another name for a checking account
one can do whatever you want with it
Term
overdraft
Definition
"bouncing a check" taking money out of an ATM that you do not have
Term
canceled check
Definition
check that is cleared cannot be used twice can't be deposited twice.
Term
certified check
Definition
for house(not personal) checks. has to be certified by bank.
Term
SPO
Definition
when you order a stop payment order on the check. this means that the person that it is issued to won't get the money from the check.
Term
dishonored check
Definition
a check that can't be used. the teller won't take it(look at notes for reasons)
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