“Check” Out These Terms!. Overdrawn – The amount by which withdrawals exceed deposits Overdraft Protection – the bank will cover the check or pay the.

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Presentation transcript:

“Check” Out These Terms!

Overdrawn – The amount by which withdrawals exceed deposits Overdraft Protection – the bank will cover the check or pay the money for you…for a fee

Bounced Check – A check which a bank returns, not payable due to insufficient funds Canceled Check – A check cleared by a financial institution Check card/Debit card – A card which allows customers to access their funds immediately, electronically.

Clear – Check has completed the check cycle process Stop Payment – An order to a bank not to honor the payment of a check after it has been delivered but before it has been cashed Service Charge – Bank fee charged for specific services or as a penalty for not meeting certain criteria

Voided Check – A check made invalid Endorse – To sign your name on the back of the check as the payee Joint Account – A shared account

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