1. Checking Account Vocabulary

2. Makes spending money and make paying bills more convenient.
Checking Account
Makes spending money and make paying bills more convenient.

3. A piece of paper used at the time of purchase as the form of payment.
Check
A piece of paper used at the time of purchase as the form of payment.

4. To whom a check is being written
Payee
To whom a check is being written

5. What happens when you don’t have enough money to cover a check
Bounced Check
What happens when you don’t have enough money to cover a check
Ex) you have $50 dollars in the bank but wrote a $75 check

6. Place to record all monetary transactions
Check Register
Place to record all monetary transactions

7. Contains the checks and the register to track monetary transactions
Checkbook
Contains the checks and the register to track monetary transactions

8. Automated teller machines (ATMs)
terminals for automated, computerized banking to withdraw cash or deposit funds into an account.

9. Debit Card
Plastic card electronically connected to the cardholder’s bank account; Money leaves your account immediately

10. Personal identification number (PIN)
Debit cards require using a PIN to access the account to perform transactions.
-Should be hard to guess but easy for you to remember

11. The person who receives a check, must sign the back before depositing
Endorsed Check
The person who receives a check, must sign the back before depositing

12. Deposit Slip
A slip, found in a checkbook or bank, lists cash, coins, and/or checks you wish to add to your account.

13. Statement
monthly listing of each monetary transaction and current account balance.

14. Reconcile
Balancing a checkbook register each month to the balance shown on the statement

15. Outstanding Transaction
A transaction which has not cleared through the bank and therefore not listed on the statement
Ex) money you spent but has not been taken out of the bank acct yet