Karteikarten

AAT BKCL Banking Terminology

Adrian Kandes AAT L2 BKCL AAT L2 Englisch 10 Karten

Karten in diesem Stapel (10)

1ChequeA cheque is an instruction in writing, signed by the bank's customer (who is paying the money) telling the bank to pay an amount to a named person or business
2Debit cardA card which can be used for purchases and cash withdrawals; payment is taken from the bank account on the next working day
3Prepayment cardA card which can be purchased and is given a 'balance to spend' - it can be topped up when the balance runs low
4Credit cardA card issued on a 'buy now and pay later' basis - payment is made monthly in full or in part on receipt of a statement
5BACSBankers Automated Clearing Services - a
the system set up by the banks to make computer-based direct payments between bank accounts
6Standing orderRegular (fixed date, same amount) payments, set up with the bank by the business sending the money - they can be processed by BACS or by Faster Payments
7Direct debitVariable date and amount BACS payments, set up by the organisation receiving the payments
8Faster PaymentsSame-day payments (usually 2 hours) between banks - the instructions can be given at the bank branch, by telephone or online
9CHAPSHigh value, same-day payments sent through the banks' computer systems (Clearing House Automated Payment System) - they cannot be cancelled after they have been sent
10Bank draftA paper-based document (similar to a cheque) issued by a bank - as good as cash - used for high-value purchases. it cannot be stopped or cancelled after it has been issued