What Are Checkable Deposits? Checkable deposits refer to demand deposit accounts that allow for writing checks or drafts without any prior notice required for withdrawing funds. These accounts […]

Understanding Outstanding Checks An outstanding check refers to a check that has been issued by the payor but has not yet been cashed or deposited by the payee. […]

Understanding Account Balances An account balance indicates the amount of money held in a financial account, such as a savings or checking account. It encompasses both the credits […]

Understanding Cashier’s Checks A cashier’s check is a reliable method for making substantial payments. Issued by a financial institution like a bank or credit union, this type of […]

What Is a Zero Balance Account (ZBA)? A zero balance account (ZBA) is a specialized checking account where the balance is maintained at $0. When funds are needed, […]

Understanding Crossed Checks A crossed check is a check marked with two parallel lines, either over the entire check or in the top left corner. This marking indicates […]

What Is a Negotiable Instrument? A negotiable instrument is a formalized IOU, a signed document that guarantees payment to a specific person or assignee at a future date […]

Understanding Non-Sufficient Funds (NSF) Non-sufficient funds (NSF) refer to a situation where a checking account does not have adequate funds to cover transactions, leading to fees when a […]

What Is a Canceled Check? A canceled check is a check that has been paid or cleared by the bank it was drawn on after it has been […]

Understanding Student Bank Accounts A student bank account refers to a specialized account, either checking or savings, tailored for young adults typically in their teens or early 20s. […]