Glossary Of Terms


To work effectively with the Checkbook platform, there are a number of finance industry and Checkbook-specific terms you should familiarize yourself with prior to beginning to work with Checkbook. Some of these terms are industry-standard terms used by most financial technology companies; however, there are some specific terms used by Checkbook that may not be used throughout the entire industry.

The table below lists key terms you should understand prior to using Checkbook.

Key Terms


Automated Clearing House (ACH). This is an electronic network that processes a transaction between participating financial institutions, and usually supports credit transfers and direct debits.


A paper-based financial instrument that has an assigned monetary value assigned to it. A check is used to complete a transaction between a payer and payee

Digital Payment

Sometimes referred to as an "electronic payment." A digital payment is the transfer of value from the payer to payee using electronic devices or apps. Examples include, Venmo, PayPal, and Zelle


An invoice is a document that charges a customer for goods or services. This is alsomreferred to as a "bill." An invoice displays all the information about a specific transaction.


A web-based platform used to perform financial transactions. This can be a third-party platform like eBay or Amazon, or a customer-created marketplace to handle different payment types.

Micro Deposit

Micro-deposits are small amounts of money transferred into and out of your account, usually less than $1. These deposits are used to verify an account and ensure that the account can accept deposits and withdrawals.

Push To Card

Push-to-Card refers to a payment initiated by the payer. The payer can "push" money to a cardholder. This is opposite of a "pull" payment where funds are pulled from one account to another.


A bank transaction is any money that moves in or out of your bank account. Types of bank transactions may include cash withdrawals or deposits, checks, online payments, debit card charges, wire transfers and loan payments.

Virtual Card

A virtual card is a digital card that only exists on your phone and consists of a unique card number that is generated in digital format, and is associated with your account.


A "wallet" (or electronic wallet) is a financial transaction application that runs on any connected device. It securely stores your payment information and passwords in the cloud. Digital wallets may be accessible from a computer; mobile wallets, which are a subset, are primarily used on mobile devices.


Also referred to as a "wire transfer," wires move money electronically from one bank account to another. Wires can be either domestic, or international.