Credit Flashcards Preview

Human Service > Credit > Flashcards

Flashcards in Credit Deck (21)
Loading flashcards...
1
Q

Balance

A

The amount of money you have in your account.

2
Q

Balance a checkbook

A

To make sure your bank statement and your records agree.

3
Q

Bank card (or debit card)

A

A plastic card that enables you to do ATM transactions.

4
Q

Bounced check

A

A check that comes back to your bank for collection because you didn’t have enough money in your account.

5
Q

Cancelled checks

A

Checks the bank has paid; they will be subtracted from your checking account.

6
Q

Cashier’s check

A

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.

7
Q

Certified check

A

Personal check that includes the banks certification that you have the necessary funds available.

8
Q

Check

A

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.

9
Q

Checkbook

A

A handy portfolio that holds your check register , checks, deposit slips and receipts, and ATM transactions receipts.

10
Q

Check register

A

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.

11
Q

Check stub

A

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.)

12
Q

Clearinghouse

A

A place where account information on deposits (credits) and withdraws (debits) is exchanged often electronically.

13
Q

Credit

A

A sum of money deposited into an account. Also, the ability to change merchandise or borrow money.

14
Q

Currency

A

Paper money in circulation.

15
Q

Debit

A

A sum of money deducted from your account

16
Q

Deposit

A

Money you put into your account

17
Q

Deposit slip

A

A form you fill out to credit money to your account

18
Q

Direct-deposit of payroll

A

Your Employer automatically deposits your paycheck into your account , witch gives you faster access to your money

19
Q

Duplicate Checks

A

Checks with carbon copies the account holder keeps as a record

20
Q

EFT

A

Electronic funds transfer. A paperless, electronic way of crediting or debuting accounts, such as ATM’ s direct deposits pay by phones

21
Q

Endorse

A

Sign the back of a check made out to you so it can be cashed or deposited