Test 4

• ATM?

  Automatic teller machine, a bank machine that gives out cash from your account and accepts deposits around the clock.
• Balancing?


  A periodic (usually monthly) check that your account balance and statements accurately reflect the actual deposits made to the account and the checks written against it.
• Bank?


  Financial institution at which you can get a checking account or savings account.
• Bank statement?


  Monthly document from your bank that shows all transactions in your account.
• Bouncing a check?

  Writing a check for more money than a bank account contains.
• Check?


  A debit against your checking account written on a paper form.
• Check register?


  The book in which you keep records of checks, deposits, debit card transactions, and ATM withdrawals.
• Credit Union?

  A credit union is a member-owned financial institution that offers many of the same services as a bank.
• Debit card?

  Like a credit card, but directly attached to a checking account; a debit card can be used to pay for items at a store.
• Direct deposit?

  An automatic deposit of a paycheck without having to take a physical check to the bank.
• Fees?


  Service fees for use of the checking account, built into the service agreement.
• Interest-bearing checking account?

  A checking account that pays interest on the balance.
• Overdrafts?


  Amounts withdrawn from your account beyond the money the account holds.