TABLE 8.

Payment Instruments and their Balance Sheet Accounts

Balance Sheet Accounts	Payment Instruments
Assets (money)
Currency	U.S. currency
	Foreign currency
	Private currency (e.g., Bitcoin)
Traveler’s check	Traveler’s check
Checking accounts owned by consumers (demand and other checkable deposits)	Checks (personal or certified)
	Debit card
	OBBP
	BANP
Checking accounts owned or managed by financial institutions or non-financial payment service providers (but may have pass-through deposit insurance for consumers)	Cashier’s check
	Prepaid card
	Money order
Savings accounts owned by consumers (“non-transactions” accounts in the non-M1 part of M2 with direct payment capability)	Checks
	Debit card
	OBBP
	BANP
Liabilities (credit)
Revolving credit	Credit card
Non-revolving credit	Charge card
	Text/SMS

Source: Authors’ analysis and Greene, Schuh, and Stavins (2016).