Ch. 9 Checking Accounts And Other Banking Services

Front 1

Check

Back 1

Is a written order to a bank to pay the stated amount to the person or business (payee) named on it.

Front 2

Demand Deposit

Back 2

The money can be withdrawn at any time - that is, " on demand." Only you, the depositor, can write checks on the account.

Front 3

Canceled Check

Back 3

Is a check that bears the bank's stamp, indicating that it has cleared.

Front 4

Overdraft

Back 4

A check written for more money than your account contains.

Front 5

Floating a Check

Back 5

When you realize your account contains insufficient funds, but you write a check anyway, hoping that a deposit will clear before the check is cashed.

Front 6

Floating a Check

Back 6

When you realize your account contains insufficient funds, but you write a check anyway, hoping that a deposit will clear before the check is cashed.

Front 7

Checkbook Register

Back 7

Is a booklet used to record checking account transactions.

Front 8

Reconciliation

Back 8

The process of matching your checkbook register with the bank statement.

Front 9

Special Endorsement

Back 9

Or an endorsement in full, is an endorsement that transfers the right to cash the check to someone else.

Front 10

Restrictive Endorsement

Back 10

Restricts or limits the use of a check.

Front 11

Certified Check

Back 11

Is a personal check that the bank guarantees or certifies to be good.

Front 12

Cashier's Check

Back 12

Also called a Bank Draft, is a check written by a bank on its own funds.

Front 13

Stop Payment Order

Back 13

Is a request that the bank not cash a specific check.