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WorksheetsFinancial Literacy - Checking and Banking Vocabulary
Total questions: 21
Worksheet time: 11mins
Bank statement.
A statement provided by a bank to reconcile your bank account. This statement lists checks received and processed by the bank, online payments, and all other withdrawals, deposits, service charges, and interest.
The statement a bank makes about all their money on an annual basis.
A letter from the bank telling you they will give you a loan.
Blank endorsement
A blank endorsement is the signature of the payee written exactly as his or her name appears on the front of the check.
A blank endorsement is the signature of the payer that is signed over to a third person by the original payee
Cashier's check
A check written by a bank on its own funds.
A check written by Ms. Ginsberg using the bank's funds.
Certified check
A personal check that the bank guarantees or certifies to be good.
An investment in a pool of mortgages that have been purchased by a government agency or government-sponsored enterprise.
Check float
Writing a check before a deposit has cleared the account.
Writing a check after a deposit has cleared the account.
Check register
A booklet used to record checking account transactions.
A booklet used to record phone numbers.
Checking Account
an account at a bank against which checks can be drawn by the account depositor.
an account at a bank to save money by the account depositor.
Currency
paper money
play money
Debit Cards
A bank card that deducts money from a checking account almost immediately to pay for purchases.
The use of someone else’s money, borrowed now with the agreement to pay it back later.
Demand deposit
A type of bank account from which money may be withdrawn at any time.
A type of bank account from which money may be withdrawn with permission from your mother.
Drawer/Maker
Is the person who wrote the check.
the person who cashed the check.
Financial institution
banks and credit unions
banks, credit unions and real estates.
Joint account
A checking account opened by two or more people.
A checking account opened at the same time as another account.
Money Order
A money order is like a check, except that it can never bounce.
A money order is like a check, except that it can bounce.
Overdraft
A check written for less money than your account contains.
A check written for more money than your account contains.
Payee
person writing the check.
person receiving the money
Bank Reconciliation
The process of matching your checkbook register with the bank statement.
The process of matching your checkbook register with the money you think you have
Restrictive endorsement
restricts or limits the use of a check.
does not restrict or limit the use of a check
Share accounts
is a savings account representing ownership interest. A share account is a checking account with low (or no) average daily balance requirements and, generally, no service fees.
is a savings account representing ownership interest. A share account is a checking account with average daily balance requirements and, generally, no service fees.
Special Account
Most banks offer a special account to customers who have a small amount of activity in their accounts each month. Service fees are charged at a flat rate per month with an additional fee for each check written.
Most banks offer a special account to customers who have a large amount of activity in their accounts each month. Service fees are charged at a flat rate per month with an additional fee for each check written
Stop payment order
A stop-payment order is a request that the bank not honor a specific check. The usual reason for stopping payment is that the check has been lost or stolen.
A stop-payment order is a request that the bank not honor a specific check. The usual reason for stopping payment is that too many checks were written.
