Chapter 29: Checking Accounts

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10 Terms

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customer
A(n) ________ opens a checking account by depositing money into a bank.
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Technology
________ allows consumers to handle many banking transactions over the Internet.
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Drawer
The ________ is the party who wrote the check and is paying the money.
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Debit card
A(n) ________ is a bank card that immediately takes money from a checking account when it is used.
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Online banking
________ allows consumers to check their account balances, transfer money, or pay bills at any time.
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Signature card
A(n) ________ is a record of an account holders signature used to verify identity.
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Overdraft protection
________ is a line of credit for overdrawn checks.
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Overdraft
A(n) ________ is the amount that is overdrawn.
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Bank reconciliation
________ is the process of seeing whether an account holders records agree with the banks records for the account.
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Direct deposit
________ allows electronic transfers of payments directly from the payers account to the account of the person being paid.