BUS-214-49 Chapter 4

Frage	Antworten
Automatic Teller Machine (ATM)	Automatic teller machine that allows customer of a bank to transfer funds and make deposits or withdrawals.
Bank Reconciliation	Process of comparing the bank balance to the checkbook balance so adjustments can be made regarding checks outstanding, deposits in transit, and the like.
Bank Statement	Report sent by the bank to the owner of the checking account indicating checks processed, deposits made, and so on, along with beginning and ending balances.
Banking Apps	Special client application programs like checking account balances, paying bills, and transferring funds for those doing online banking.
Blank Endorsement	Current owner of check signs name on back. Whoever presents checks for payment received the money.
Check	Written document signed by appropriate person that directs the bank to pay a specific amount of money to a particular person or company.
Check Register	Record-keeping device that records checks paid and deposits made by companies using a checking account.
Check Stub	Provides a record of checks written. It is attached to the check.
Credit Memo (CM)	Bank transactions that increase customer's account.
Debit Card	Transactions result in money being immediately deducted from customer's checking account.
Debit Memo (DM)	A debit transaction bank does for customers.
Deposit Slip	Document that shows date, name, account number, and items making up a deposit.
Deposits in Transit	Deposits not received or processed by bank at the time the bank statement is prepared.
Draft	Written orders like checks instructing a bank, credit union, or savings, and loan institution to pay your money to a person or organization.
Drawee	One ordered to pay the check.
Drawer	One who writes the check.
Electronic Funds Transfer (EFT)	A computerized operation that electronically transfers funds among parties without the use of paper checks.
Endorse	Signing the back of the check; thus ownership is transferred to another party.
Full Endorsement	This endorsement identifies the next person or company to whom the check is to be transferred.
Mobile Banking	Doing banking transactions on a mobile device such as a smartphone or tablet.
Nonsufficient Funds (NSF)	Drawer's account lacked sufficient funds to pay written amount of check.
Outstanding Checks	Checks written but not yet processed by the bank before statement preparation.
Overdrafts	Occurs when company or person wrote a check without enough money in the bank to pay for it (NSF Check).
Payee	One who is named to receive the amount of the check.
Restrictive Endorsement	Check must be deposited to the payee's account. This restricts one from cashing it.
Signature Card	Information card signed by person opening a checking account.

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