5.2 Banking Services and Fees

overdraft protection

A bank service that covers checks even if you have insufficient funds in your checking account.

cashier's check

A check written by a bank on its own funds.

electronic funds transfer

A computer-based system that enables you to move money from one account to another without writing a check or exchanging cash.

notary public

A person who verifies a person's identity, witnesses the person's signature on a legal document, and then "notarizes" the signature as valid.

certified check

A personal check that the bank guarantees or certifies to be good.

safe deposit box

A place at your bank available to store valuable items or documents.

money order

A printed order for payment of a specified sum, issued by a bank or post office.

stop-payment order

A request that the bank not honor a specific check.

ATM fee

An amount typically charged by an ATM that does not belong to your own bank.

NSF fee (overdraft fee)

An overdraft fee assessed when you spend more than you have in your account and don't have overdraft protection.

bank credit card

Any card issued against a depository account, such as an ATM card or a debit card.

debit card

A bank card that deducts money from a checking account almost immediately to pay for purchases.