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Bank Reconcilationa
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Chapter 5

consumer

QuestionAnswer
*ABA Number American Bankers Association. To route your check back to your bank. Another name for the routing number.
Bank Reconcilationa The process of matching your checkbook register with the banks statement.
*Bank Endorsement
Canceled Check A check that has cleared your account.
Certified Check A personal check that the bank guarantees or certifies to be good.
Checkbook Register A booklet used to record checking account transactions.
Debit Card A bank card that deducts money from a checking account almost immediately to pay for purchases.
Demand Deposit A type of bank account from which money may be withdrawn at any time.
Electronic Funds Transfer A computer-based system that enables you to move money from one account to another without writing a check or exchanging cash.
*FDIC Federal Deposit Insurance Corporation.
Notary Public A person who verifies a person's identity, witness the persons signature on a legal document, and then "notarize"the signature as valid.
*Payee a person to whom money is paid or is to be paid, especially the person to whom a check is made payable.
Safe Deposit Box A place at your bank available to store valuable items or documents.
*Special Endorcement Is an endorsement that transfers the right to cash the check to someone.
*Stop Payment Order Is a request that cancels a check or payment that has not been processed yet.
*Check A check is a written order to a bank to pay the amount stated to the person or business named on it.
Created by: lockwoodj
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