Karteikarten
Chapter 4: Banking
Karten in diesem Stapel (21)
- 1Automatic Teller Machine (ATM)Automatic teller machine that allows customer of a bank to transfer funds and make deposits or withdrawals
- 2Debit CardTransactions result in money being immediately deducted from customer’s checking account
- 3CheckWritten documents signed by appropriate person that direct the bank to pay a specific amount of money to a particular person or company
- 4DraftWritten orders like checks instructing a bank, credit union, or savings and loan institution to pay your money to a person or organization
- 5Signature CardInformation card signed by person opening a checking account
- 6Deposit SlipDocument that shows date, name, account number, and items making up a deposit
- 7Check StubsProvides a record of checks written. It is attached to the check
- 8Check registerRecord-keeping device that records checks paid and deposits made by companies using a checking account
- 9EndorseSigning the back of the check; thus ownership is transferred to another party
- 10Blank EndorsementCurrent owner of check signs name on back. Whoever presents checks for payment receives the money
- 11Full EndorsementThis endorsement identifies the next person or company to whom the check is to be transferred
- 12Restrictive EndorsementCheck must be deposited to the payee’s account. This restricts one from cashing it
- 13Bank statementReport 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
- 14Electronic Funds Transfer (EFT)A computerized operation that electronically transfers funds among parties without the use of paper checks
- 15Bank reconciliationProcess of comparing the bank balance to the checkbook balance so adjustments can be made regarding checks outstanding, deposits in transit
- 16Banking AppsSpecial client application programs like checking account balances, paying bills, and transferring funds for those doing online banking
- 17Outstanding ChecksChecks written but not yet processed by the bank before bank statement preparation
- 18Deposits in TransitDeposits not received or processed by bank at the time the bank statement is prepared
- 19Credit Memo (CM)Bank transactions that increase customer’s account
- 20Debit Memo (DM)A debit transaction bank does for customers
- 21Nonsufficient Funds (NSF)Drawer’s account lacked sufficient funds to pay written amount of check
Informationen
- Beschreibung
- These are all of the Key Terms for Chapter 4: Banking
- Erstellt von
- Jozlyn Bartunek · Aug 2024
- Aktualisiert
- 30 Aug 2024
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