Flashcards › CHECKING ACCOUNTS & OTHER BANKING SERVICES

A(n) ________________________ is a banking service in which a customer deposits money and writes checks to withdraw at his or her convenience. checking account An account on which the depositor can demand money at any time is known as a _______________________. demand deposit A(n) _____________________________ occurs when a depositor writes a check on an account that is insufficient to cover a check. overdraft The person to whom a check is made payable is called the _______________________. payee The person authorized to write checks on an account is called the __________________________. drawer/maker A(n) _________________ endorsement requires two signatures. joint Paper money in the form of dollar bills, fives, tens, and so on is called__________________________. currency A(n) ____________________________ is the record of checks written and deposits made in a checking account, kept by the depositor. checkbook register A(n) ______________________ is sent by the bank regularly, listing checks and deposits processed by the bank, as well as charges and credits to an account. bank statement A(n) ______________________ check is one that has been processed by the bank and has been subtracted from the depositor's account. canceled The payee simply signing his or her name as it appears on the front of the check is making a(n) ______________________ endorsement. blank A special code number used at an ATM. PIN _____________________ cards provide immediate deductions from your checking account when you make a purchase. Debit Checking accounts at credit unions are called ___________________. share accounts To write a check when you know there are temporarily not enough funds to cover the check is called_________________________. floating a check A ____________________ is a check guaranteed by the bank. certified check A check drawn against the bank's own funds is a __________________________. cashier's check The process of matching your checkbook register with the bank statement is called ________________. reconciliation A request to the bank not to cash a check is a ____________________________. stop payment order An endorsement signing a check over to a third person is a __________________________. special endorsement A(n) __________________________ endorsement, such as, For Deposit Only, limits the negotiability of a check. restrictive This exercise is a list of 20 banking terms along with their definitions.