Lesson 2-1 Checking Account Vocab

An account at a bank that allows a customer to deposit money and make withdrawals.

• Check

• Debit Card

• Checking Account

• Check Clearing

A written order used to tell a bank to pay money from an account to the check holder.

• Check

• Deposit Slip

• Payee

• Debit

The process of moving funds electronically from an account in one bank to an account in another bank;also referred to as an electronic check/echeck

• Deposit

• Check Clearing

• Endorse

• Electric Funds Transfer (EFT)

The receiver of the transferred funds or the person to whom the check is written

• Payee

• Banker

• Hold

• Checking Account

The account owner of a check, the person who writes the check.

• Payee

• Drawer

• Direct Deposit

• Deposit

The process that happens when a bank pays for a check out of a checking account; a clerk is cleared when the bank has transferred the funds from the checking account.

• Hold

• Deposit

• Check Clearing

• Payee

A form to fill out when adding money to a bank account.

• Deposit Slip

• Check

• Hold

• Check Register

Payroll or other types of checks that are directly and electronically deposited into a bank account.

• Electric Funds Transfer (EFT)

• Deposit Slip

• Direct Deposit

• Check

Provides 24-hour bank access to make deposits, transfers, and withdrawals.

• Banker

• Deposit

• Automated Teller Machine (ATM)

• Bank

A numerical password that allows access to an ATM.

• Personal Identification Number (PIN)

• ATM

• Routing Number

• Checking Account