chapter 9

demand deposit

a type of bank account from which funs may be with drawn at any time

canceled check

a check where the money has been successfully sent

overdraft

a check written for more money than your account contains

floating check

writing a check and hoping to cover it with a depost before it clears

checkbook register

a booklet used to record checking account transactions

bank reconciliation

the process of matching your checkbook registers with the bank statement

blank endorsement

The signature of the payee is written on the front of the check

special endrosement

An endorsement that transfers the right to cash the check to someone else

restrictive endorsement

restricts the use of the check

Certified check

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

cashier's check

a written check by the bank on its own funds; also called a bank draft

debit card

a card that deducts money from a checking account after purchases

overdraft protections

checks will be covered even if you have insufficient funds in your checking account

electronic funds transfer

A computer-based system that allows you to move money from one account to another without writing a check or exchanging cash.

stop-payment order

A request that the bank not honor a specific check

safe deposit box