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13 Cards in this Set
- Front
- Back
Check
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Is a written order to a bank to pay the stated amount to the person or business (payee) named on it.
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Demand Deposit
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The money can be withdrawn at any time - that is, " on demand." Only you, the depositor, can write checks on the account.
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Canceled Check
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Is a check that bears the bank's stamp, indicating that it has cleared.
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Overdraft
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A check written for more money than your account contains.
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Floating a Check
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When you realize your account contains insufficient funds, but you write a check anyway, hoping that a deposit will clear before the check is cashed.
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Floating a Check
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When you realize your account contains insufficient funds, but you write a check anyway, hoping that a deposit will clear before the check is cashed.
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Checkbook Register
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Is a booklet used to record checking account transactions.
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Reconciliation
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The process of matching your checkbook register with the bank statement.
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Special Endorsement
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Or an endorsement in full, is an endorsement that transfers the right to cash the check to someone else.
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Restrictive Endorsement
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Restricts or limits the use of a check.
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Certified Check
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Is a personal check that the bank guarantees or certifies to be good.
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Cashier's Check
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Also called a Bank Draft, is a check written by a bank on its own funds.
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Stop Payment Order
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Is a request that the bank not cash a specific check.
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