Business and Personal Finance Dictionary

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• CHECK KITING
  
  Check kiting requires two accounts. Suppose you have two checking accounts -- one is in bank "A" and one is in bank "B." You don't have any money in bank "A" but you write a check on the account for $500 and deposit it in the account at bank "B." You then tell the teller at bank "B" that you want to withdraw $400. The teller gives you $400 in cash and you disappear before the check bounces. Needless to say -- but we'll say it anyway -- this is illegal.
  
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