Below you will
find a word list (vocabulary) and what they mean (definitions) that
you need to know to better understand some of the stories in this
part of Main Street. If you would like to hear the word, double click
on the 
icon.
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ATM: This is
the short name for an automated teller machine, also known as a
money machine or cash machine. |
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Bad Check:
A check that is written when there is not enough money in the account.
Also known as a bounced check. |
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Balance: The
amount of money you have in your account. |
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Bank Statement:
The papers you get every month from your bank that list all of the
activities in your account for the month. Sometimes called a transaction
statement. |
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Cash: Money
in the form of bills or coins. |
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Check: A document
used for payment. |
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Check Register:
A form in your checkbook where you write down all deposits and withdrawals. |
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Cleared: When
the bank verifies there is enough money in the account to cover
the amount of the check. |
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Deposit: The
money you put into your account. Deposit Ticket: The form you use
to put money into your account. |
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Endorse: To
sign your name on the back of a check in order to cash it or deposit
it. |
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Financial Institution:
a business that deals with money, such as a bank or credit union |
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Insufficient
Funds: When there is not enough money to cover the amount of the
check. Insufficient Funds Fee: The fee that is charged by a bank
or business when the amount of the check is greater than the balance
in the account. |
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Outstanding
Check: A check that has not yet been subtracted from your account
by the bank. |
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Overdraft:
When your account goes below zero and there is not enough money
to cover a check or withdrawal. |
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Reconcile:
A process to make sure your checkbook balance matches your bank's
balance for your account. |
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Reconciliation
Form: A form that helps you reconcile your account. It is usually
found on the back of your monthly bank statement. |
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Transaction:
When money goes into or out of your account. Can include deposits,
withdrawals, payments, fees, ATM transactions, or transfers. |
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Void: This
means that a check is not good or not usable. You write "VOID"
across a check that has a mistake written on it, tear it up, and
throw it away. |
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Withdrawal:
When you take money out of your account. This can be by check, ATM,
automatic payment, or other methods. |
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Source: aboutchecking.com, sponsored by e FUNDS
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