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12 Cards in this Set
- Front
- Back
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Checking account |
Demand deposit account on which checks are drawn. |
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Check |
A written order to a bank to pay a stated amount to a person or business named on the face of the check. |
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Checkbook register |
Tool used to track checking account transactions. |
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Deposit |
Money added to a checking or savings account. |
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Withdrawal |
Taking money from your account. |
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Postdated check |
Check written with a date that will occur in the future. |
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Debit card |
Card used to withdraw or deduct money from your checking account. |
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Electronic funds transfer |
The use of a computer-based system to move money from the drawer's account to the payee's account. |
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Bank reconciliation |
The process of adjusting the checkbook register and bank statement balances so that they agree. |
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Canceled checks |
Checks that a bank has processed. (Also known as cleared checks) |
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Direct deposit |
Are automatically deposited into a bank account electronically. |
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Third-party check |
created by a special endorsement, is a check issued by the check writer to the payee who then endorses and transfers it to a third party. |
