37494693
Description
Flashcards by CELIA VERDINEZ, updated more than 1 year ago
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Created by CELIA VERDINEZ
almost 2 years ago
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| Question | Answer |
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automatic teller machine (ATM)
Image:
Atm Machine (image/jpeg)
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the ability to get instant cash |
| 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 |
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check register
Image:
Bcr 01 1 (image/jpeg)
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Record-keeping device that records checks paid and deposits made by companies using a checking account |
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check stub
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Tscat 01 Lg.Jpg (image/jpeg)
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Provides a record of checks written. It is attached to the check |
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Credit memo (CM)
Image:
Qb Credit Note (image/jpeg)
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Bank transactions that increase customer's account |
| Debit card | Transactions result money being immediately deducted from customer's checking account. |
| Debit memo (DM) | A debit transaction bank does for customers |
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Deposit slip
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Dt11 Db Lg.Jpg (image/jpeg)
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Document that shows date, name, account number, and items making up a deposit |
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Deposits in transit
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Endingstate (image/png)
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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 tp a person or organization |
| Drawee | One ordered to pay the check |
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Drawer
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Oip (image/jpeg)
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One who writes the check |
| Electronic fund 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 bank 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. |
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Signature card
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Jul14 394 Lg (image/jpeg)
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Information card signed by person opening a checking account |
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