checking account

Where checks originate

A checking account is a bank account for everyday transactions—depositing paychecks, paying bills, writing checks, using a debit card.

Unlike savings accounts, checking accounts allow frequent withdrawals without penalty but typically earn little or no interest.

I need to transfer money into my checking account before rent is due.

transactions

direct deposit

Funds sent to account automatically

bill pay · recurring payments · clearing · posting · pending · processing · standing order · scheduled payment · electronic transfer · mobile deposit

banking

balance

Steadiness or amount owed

credit union · minimum balance · bank teller · branch · FDIC insured · debit card · e-statements · terms and conditions

overdraft

insufficient funds

Lacking required money

overdraft fee · negative balance · penalty · buffer · declined

deposits

paycheck

Compensation for labor

income · deposit slip · availability · hold · endorse · signature

withdrawals

ATM

Automated banking kiosk

teller · debit · point of sale · PIN · available balance

reconciliation

ledger

Financial record book

discrepancy · audit

Categories
Opposites
account purpose

checking accountsavings account

Interest-bearing bank holding

investment account · brokerage account · retirement account · 401(k) · IRA

asset vs. liability

checking accountcredit card

Borrowed-funds payment tool

loan · mortgage · line of credit · debt · credit account

financial instrument type

checking accountinvestment account

Holds securities for growth

brokerage account · stock portfolio · mutual fund · bonds · real estate investment

Family

check, account, checking, banking, accounts, accountant, accountable, accounting, accountability

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Timeless · Everyday, not technical · Rated G