Opening and Maintaining a Transaction Account Terms (p.209)

joint account

an account shared by two or more people

right of survivorship

the right of a person sharing a joint account to claim the whole account balance upon the death of the other account holder

tenants in common

two or more holders of a joint account without the right of survivorship

postdated

describes a check given a future date in an attempt to withhold payment until that time

stale dated

describes a check bearing a date more than six months old

payee

the person or organization receiving a check

guaranteed check

. A check that is affirmed by a bank or other reputable backer to be cashable by the payee.

certified check

a personal check for which a bank has guaranteed payment

cashier's check

a guaranteed check bought by a customer and drawn on the bank itself

money order

a small guaranteed check bought at a bank, post office, or other business

traveler's check

guaranteed checks bought through banks from various financial institutions as a means of safekeeping cash during travel

endorse

to sign the back of a check to acknowledge its receipt by the payer

stop payment order

a request by an account holder that his bank stop payment on a check that he has written, thus prohibiting it from being cashed

reconciling

adjusting the account holder's check register record to balance with periodic bank statements of account activities