Lesson 2-1 Checking Account Vocab

Front

Bank account for deposits and withdrawals.

Back

Checking Account

Front

A written order to a bank to pay money from an account.

Back

Check

Front

Moving funds electronically between banks; also known as an e-check.

Back

Electric Funds Transfer (EFT)

Front

Receiver of transferred funds or check.

Back

Payee

Front

Account owner of a check, the person who writes it.

Back

Payee

Front

Process when a bank pays a check from a checking account; clerk is cleared after funds transfer.

Back

Check Clearing

Front

Form for adding money to a bank account.

Back

Deposit Slip

Front

Payroll or checks electronically deposited into a bank account.

Back

Direct Deposit

Front

24-hour access for deposits, transfers, withdrawals.

Back

Automated Teller Machine (ATM)

Front

Numerical password for ATM access.

Back

Personal Identification Number (PIN)