bank reconciliation
The process of matching your checkbook register with the bank statement
bank statement
A report of deposits, withdrawals, and bank balances sent to a depositor by a bank
commercial bank
A financial institution that accepts demand deposits and makes loans and provides other services for the public
check register
The book in which you keep records of checks, deposits, debit card transactions, and ATM withdrawals.
credit union
A nonprofit financial institution that is owned by its members and organized for their benefit.
debit card
A bank card that automatically deducts the amount of a purchase from the checking account of the cardholder
endorsement
A signature or stamp on the back of a check transferring ownership
Federal deposit
(FDI) A United States government corporation created by the Glass-Steagall Act of 1933. It provides deposit insurance, which guarantees the safety of deposits in member banks, currently up to $250,000 per depositor per bank
Federal Reserve System
The country's central banking system, which is responsible for the nation's monetary policy by regulating the supply of money and interest rates
outstanding checks
checks that have not been deducted from the bank statement balance
safe-deposit box
a container for storage of valuables offered by banks
service charge
a fee a bank charges for handling a checking account
stop payment order
a written notice that tells the bank not to pay a certain check