Unit 5 Flashcards
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 an account holder is adding to a bank account.
endorsement
A signature or 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 of a check.
restrictive endorsement
An endorsement restricting further transfer of a check’s 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.
debit card
A bank card that automatically deducts the amount of a purchase from the checking account of the cardholder.
petty cash
An amount of cash kept on hand and used for making small payments.
