Chapter 5 Definitions Flashcards
a bank account from which payments can be ordered by a depositor
Checking Account
a bank form which lists the checks, currency, and coins an account holder is adding to a bank account
Deposit Slip
a signature or stamp on the back of a check transferring ownership
Endorsement
an endorsement consisting of of the endorser’s signature
Blank Endorsement
an endorsement indicating a new owner of a check
Special Endorsement
an endorsement restricting further transfer of a check’s ownership
Restrictive Endorsement
a check with a future date on it
Postdated Check
a check that cannot be processed because the make has made it invalid
Voided Check
a report of deposits, withdrawals, and bank balances sent to a depositor by a bank
Bank Statement
a check which has been paid by the bank
Canceled Check
a check that a bank refuses to pay
Dishonored Check
a check dishonored by the bank because of insufficient funds in the account of the maker of the check
Non-sufficient Funds Check
a computerized cash payments system that transfers funds without the use of checks, currency, or other paper documents
Electronic Funds Transfer
a bank card that automatically deducts the amount of a purchase from the checking account of the card holder
Debit Card
an amount of cash kept on hand and used for making small payments
Petty Cash
