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