Checking Account

Business / Taxes / Checking Account: Checking accounts are transaction accounts that allow you to authorize the transfer money to another person or organization either by writing a check that includes the words "Pay to the order of" or by making an electronic transfer. Banks and credit unions provide transaction accounts, as do brokerage firms and other financial services companies that offering banking services. Money in transaction accounts is insured by the Federal Deposit Insurance Corporation (FDIC) up to $100,000 per depositor in each banking institution. However, the FDIC doesn’t insure money market mutual funds that offer check-writing privileges.

Other Words for Account

Account Noun Synonyms: calculation, accounting, reckoning, computation, (financial) statement, enumeration
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Lifeline Account

Business / Taxes / Lifeline Account: A lifeline account is a basic checking account with low or no minimum deposit and balance requirements and very low or no monthly fees. Most lifeline accounts, however, limit the number of checks that MORE

Sweep Account

Business / Finance / Sweep Account: An increase in equity created by the labor of the owner. MORE

Negotiable-Order-Of-Withdrawal Account

Business / Taxes / Negotiable-Order-Of-Withdrawal Account: A negotiable-order-of-withdrawal (NOW) account is an interest-bearing checking account that pays interest on the balance, usually at a rate comparable to a money market account. You may be required to MORE

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