overdraft checking account
21Check kiting — is the illegal act of taking advantage of the float to make use of non existent funds in a checking or other bank account; it is a form of check fraud. It is commonly defined as intentionally writing a check for a value greater than the account… …
22Stealth inflation — is the term used to describe charges and fees created by business to gain extra profit and revenue from its customers. The stealth part of the term is that business will often use miscellaneous fees to charge customers without the customers… …
23Authorization hold — (also card authorisation, preauthorization, or preauth) is the practice within the banking industry of authorizing electronic transactions done with a debit card or credit card and holding this balance as unavailable either until the merchant… …
24Automatic Transfer Of Funds — A standing banking arrangement whereby transfers from a customer s account are made on a regular, periodic basis without further instruction or action by the customer. The most common automatic transfer of funds are through sweep instructions,… …
25Bad Check — A check drawn on a nonexistent account or on an account with insufficient funds to honor the check when presented. Passing bad checks is illegal, and the crime can range from a misdemeanor to a felony, depending on the amounts involved and… …
26List of British words not widely used in the United States — Differences between American and British English American English …
27bank — I (New American Roget s College Thesaurus) n. slope, hillside; mound, heap, ridge; tier; beach, shore, shoal; depository, vault. See obliquity, land, store. v. tilt, angle, slope; deposit. See edge, aviation. II (Roget s IV) n. 1. [A wall of… …
28Bounced Check — A slang word for a check that cannot be processed because the writer has insufficient funds. A bounced check will often be returned to the writer along with a penalty fee for non sufficient funds. Passing bad checks is illegal, and the crime can… …
29Evergreen Loan — A loan that does not require the principal amount to be paid off within a specified period of time. Evergreen loans are usually in the form of a short term line of credit that is routinely renewed leaving the principal remaining outstanding for… …
30ChexSystems — is an eFunds check verification service and consumer credit reporting agency like Experian, Equifax and TransUnion. While most credit reporting agencies broker data about how a consumer handles credit relationships, ChexSystems provides data… …
