Criado por Katrina Smith
quase 2 anos atrás
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Questão | Responda |
Chapter 4 | Key terms |
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 check 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 increases 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 | Docoument 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 | A computerized operations that electronically transfer 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. |
Signature card | Information card signed by person opening a checking account |
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