Checkbook Terminology

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Presentation transcript:

Checkbook Terminology

Payee – The party that receives the check Payor – The party that writes the check Check Register – a record of all checking related transactions, checks written and deposits made Check Stub – a record keeping device attached to the check

Balance – the current amount of money in your account Non-sufficient Funds – writing a check for more money than is currently in your account Minimum Balance – the smallest balance you may carry without incurring an additional service charge Service Charge – a fee the bank charges for the use of your checking account

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