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checking account
a bank that allows a customer to deposit money and make withdrawals
check
A written order used to tell a bank to pay money
EFT
The process of moving funds electronically
payee
whom the check is written.
drawer
the person who writes the check.
check clearing
transferred the funds from the checking account.
deposit slip
A form to fill out when adding money to a bank account.
direct deposit
deposited into a bank account.
ATM
deposits, transfers, and withdrawals.
PIN
A numerical password that allows access to an ATM.
hold
The money in a bank account that is not released until the issuing bank of a check pays for a check.
endorse
check when cashing it.
canceled
A check that has been processed so that the money is paid to the payee of a check.
insufficient funds
to cover a check that has been issued against it.
overdraft protection
there is a fee for this service and the money must be repaid.
maintenance fee
A fee that some banks charge to provide access to checking or savings accounts.
interest
A percentage of the money that is in an account that a bank pays on some accounts.
single account
one owner who is able to make account transactions.
joint account
more than one owner
check register
A record of all transactions
debits
Withdrawals from a bank account
deposits
Deposits into a bank account.
