Chapter 29: Checking Accounts

customer

customer

A(n) ________ opens a checking account by depositing money into a bank.

Technology

________ allows consumers to handle many banking transactions over the Internet.

Drawer

The ________ is the party who wrote the check and is paying the money.

Debit card

A(n) ________ is a bank card that immediately takes money from a checking account when it is used.

Online banking

________ allows consumers to check their account balances, transfer money, or pay bills at any time.

Signature card

A(n) ________ is a record of an account holders signature used to verify identity.

Overdraft protection

________ is a line of credit for overdrawn checks.

Overdraft

A(n) ________ is the amount that is overdrawn.

Bank reconciliation

________ is the process of seeing whether an account holders records agree with the banks records for the account.

Direct deposit

________ allows electronic transfers of payments directly from the payers account to the account of the person being paid.