Financial Literacy Ch 5 Vocabulary Review

Front

A demand deposit account at a bank on which checks are drawn.

Back

checking account

Front

A written order to a bank to pay a stated amount to a person or business.

Back

check

Front

A tool used to track checking account transactions.

Back

check register

Front

A check written with a date that will occur in the future.

Back

postdated check

Front

Money added to a checking or savings account.

Back

deposit

Front

Taking money from your account.

Back

withdrawal

Front

A signature, with or without instructions, written on the back of a check.

Back

endorsement

Front

A bank card used to withdraw or deduct money from your checking account.

Back

debit card

Front

The use of a computer-based system to move money from the drawer’s account to the payee’s account.

Back

electronic funds transfer

Front

The process of adjusting the check register and bank statement balances so that they agree.

Back

bank reconciliation