balancing checking

Term Definition
federal reserve The Federal Reserve is the central banking system of the United States
credit union credit union is a cooperative bank, meaning it is privately owned and controlled by its members
routing number The first range of numbers in the series of numbers at the bottom of a check that indicates which Federal Reserve district the bank issuing the check belongs to.
ATM Automatic teller machine, a bank machine that gives out cash from your account and accepts deposits around the clock.
check A debit against your checking account written on a paper form
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.
overdrafts Amounts withdrawn from your account beyond the money the account holds.

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