Financial Algebra Vocab Test #1

Front

Account allowing deposits, withdrawals, and transfers.

Back

Checking Account

Front

Checking account must have enough funds for a check to clear.

Back

Check Clearing

Front

Check written for an amount exceeding account balance is returned (bounced).

Back

Insufficient Funds

Front

Plans that pay a check despite insufficient funds, with fees and repayment required.

Back

Overdraft Protection

Front

Percentage of money in an account over time.

Back

Interest

Front

Record of money movement in/out of bank account.

Back

Bank Transaction

Front

Transfers money from your account to the account holder you owe.

Back

Payments

Front

A check by a financial institution on its own funds, signed, payable to a third party.

Back

Cashier's Check

Front

A certificate issued by a government or bank allowing the payee to receive cash on demand.

Back

Money Order

Front

Monthly document from bank listing account balance and processed checks.

Back

Bank Statement