Dollars & Sense Unit 5

Front 1

Automated Teller Machine (ATM)

Back 1

"a computer terminal that you can use to make deposits, withdraw cash, transfer money between accounts, check your account balances, and pay some kinds of bills "

Front 2

Automatic Withdrawal

Back 2

a bill paying arrangement in which your bank removes money from your account at a specified time and sends it to a company to pay your bill

Front 3

Barter

Back 3

trading goods and services without using money

Front 4

Canceled Check

Back 4

"a check with the bank’s stamp on it, indicating that it has been paid"

Front 5

Cashier’s Check

Back 5

"a bank’s own personal check, signed by the banks cashier. Payment of this check comes from the bank’s own funds."

Front 6

Certified Check

Back 6

a personal check that has been stamped and signed by a bank officer as a guarantee that your account has the funds to cover the check.

Front 7

Check

Back 7

an order to a bank to pay a specified sum to the person or business named on the check.

Front 8

Check Register

Back 8

a booklet provided by your bank for recording your checking account transactions

Front 9

Checking Account

Back 9

a bank account that allows depositors to write checks to make payments

Front 10

Currency

Back 10

paper money and coins used for financial transactions.

Front 11

Debit Card

Back 11

card that transfers funds electronically from your checking account to the store’s account to pay for a purchase.

Front 12

Direct Deposit

Back 12

"depositing an employee’s pay into the employee’s bank account electronically, instead of using a paper paycheck"

Front 13

Drawee

Back 13

the person or bank who is expected to pay a check or draft when it is presented for payment

Front 14

Drawer

Back 14

the person who writes a check or draft instructing the drawee to pay someone else

Front 15

Electronic Funds Transfer (EFT)

Back 15

the movement of funds from one account to another by computer.

Front 16

Endorsement

Back 16

"your signature on the back of a check, acknowledging that you received the funds or transferred your right to the funds to someone else"

Front 17

FDIC

Back 17

a federal government agency that insures deposits in banks

Front 18

Money Orde

Back 18

a check that draws on the funds of the bank that issued it

Front 19

Overdraft

Back 19

draft in excess of the credit balance

Front 20

Payee

Back 20

the person or business to whom a check is written.

Front 21

Personal Identification Number (PIN)

Back 21

your secret number that identifies you to an ATM as the owner of the ATM card

Front 22

Purchasing Power

Back 22

the amount of goods or services that your money can buy

Front 23

Safe Deposit Box

Back 23

a box with a lock that you may rent from the bank for safe storage of important papers and valuable possessions.

Front 24

Statement

Back 24

a written record from your bank of all the transactions involving your account.

Front 25

Third Party Check

Back 25

checks made out to you that you sign over to someone else.

Front 26

Traveler’s Check

Back 26

"checks that you pay for in advance, and if they are lost or stolen, the issuing company replaces them"

Front 27

Wire Transfer

Back 27

An electronic communication that moves funds from an account in a different bank instantly.