Chapter 4

Question	Answer
ATM	A machine that can dispense money from a debit card
Debit Card	A card that can automatically with draw money directly from the bank account
Checks	A written promise to pay a person or business from their account
Draft	An order to pay another bank or person with a transfer from your account
Signature card	A document that a person signs when opening their account that has the account information and personal information on it
Deposit Slip	A slip that has the account name, number and the amount being deposited on it.
check stubs	record of a written check that is attached to said check
Endorse	to sign the back of the check
Blank Endorsement	the owner signs the endorsement and who ever presents the check receives the cash
Full endorsment	identifies who the check is transferred to
Restrictive endorsment	for deposit only
Bank Statement	sent from the bank showing every credit or debit for the account for the statement period
Electronic funds transfer	A transfer from one account to another account without physical checks
Bank Reconciliation	find the difference between the check book ledger and the bank statement
Outstanding Checks	a check that has been written but has yet to clear the account
Deposit in Transit	A deposit that has not processed yet when the statement cuts
Credit Memo	increases the customer's account
Debit memo	debits customer's account

Resource summary

	Created by DaLena Schultz over 1 year ago