If the amount withdrawn from a bank account is greater than the amount actually available in the account, the excess is called overdraft and the account is designated as oversubscribed. See related questions about overdraft protection programs. An account belonging to two or more people. Each party can make transactions separately or together, in accordance with the account contract. For more information about the Liability joint account, click here. A book in the form of an in-kind account that records all deposits, withdrawals and earnings from a debtor`s savings account. A cheque paid by a bank, debited from the account holder`s account, and then confirmed. After the cancellation, a cheque is no longer negotiable. The process necessary to correct errors in electronic transfers on and from deposit accounts.

Related questions about bank errors and credit card disputes. This contract does not complete or replace your account contract or other existing credit agreements. A system put in place by a written agreement authorizing a financial institution to debit the debtor`s account to pay bills or make credit payments. For more questions about preauthorized payments, click here. A billing error can also be caused by a creditor`s failure to credit a payment or other credit to an account, as well as by accounting and writing error. Related questions about credit card disputes. A charge can be an account entry representing money you owe a lender, or money taken from your deposit account. The bank`s policy as to when funds deposited in an account are available for payment.

For more information on the availability of funds, click here. In general, a four-digit number or a word, the PIN is the secret code given to credit or debit card holders that allow them to access their accounts. The code is randomly assigned by the bank or selected by the debtor. It is intended to prevent unauthorized use of the card when accessing a financial services terminal. A machine activated by a magnetic encoded card or other medium, capable of handling a variety of banking transactions. These include the acceptance of deposits and loans, the provision of withdrawals and the transfer of funds between accounts. See related questions about DEBIT/ATM cards. A savings account from which withdrawals can be made by negotiable withdrawal orders (functional equivalent of cheques). This is an interest account for which the bank must reserve the right to notify the depositor of at least seven days on his intention to withdraw money.

See the related question about NOW accounts. A fee estimated by a deposit-making institution for settlement of transactions and accounts. See related questions about bank account fees. An open credit account on which the dollar limit has been exceeded. The difference between the credit limit assigned to a cardholder account and the current account balance. See related questions about credit cards.