Credit Flashcards
Balance
The amount of money you have in your account.
Balance a checkbook
To make sure your bank statement and your records agree.
Bank card (or debit card)
A plastic card that enables you to do ATM transactions.
Bounced check
A check that comes back to your bank for collection because you didn’t have enough money in your account.
Cancelled checks
Checks the bank has paid; they will be subtracted from your checking account.
Cashier’s check
A check issued by a bank that’s sold to you for personal payments to people or businesses that won’t accept a personal check.
Certified check
Personal check that includes the banks certification that you have the necessary funds available.
Check
A written order to the bank that tells it to take a stated amount of money from your checking account and pay it to another person or company.
Checkbook
A handy portfolio that holds your check register , checks, deposit slips and receipts, and ATM transactions receipts.
Check register
A record that allows you to keep track of checks you have written as well as deposits and withdraws. Balance it against your bank statement every month.
Check stub
The part of a check that you keep as a record of the transaction. ( May be used instead of a check register in addition to one.)
Clearinghouse
A place where account information on deposits (credits) and withdraws (debits) is exchanged often electronically.
Credit
A sum of money deposited into an account. Also, the ability to change merchandise or borrow money.
Currency
Paper money in circulation.
Debit
A sum of money deducted from your account
Deposit
Money you put into your account
Deposit slip
A form you fill out to credit money to your account
Direct-deposit of payroll
Your Employer automatically deposits your paycheck into your account , witch gives you faster access to your money
Duplicate Checks
Checks with carbon copies the account holder keeps as a record
EFT
Electronic funds transfer. A paperless, electronic way of crediting or debuting accounts, such as ATM’ s direct deposits pay by phones
Endorse
Sign the back of a check made out to you so it can be cashed or deposited
