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12 Cards in this Set
- Front
- Back
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bank money order
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sold by a bank. instructs the bank to pay a specified amount of money to be paid to an individual or business
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postal money order
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ussued by a post office. directs a specified amount of $ be paid to an individual/ business
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express money order
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issued by express companies which are businesses that engage in transporting money and goods safely
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telegraphic money order
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message directing a telegraph office, such as western union to wire a sum of $$ from a telegram office near the sender
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Electronic Funds Transfer (EFT)
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refers to use of computers and other technology for banking activities. ex. POS ATM
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Direct Deposit
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Funds are deposited electronically and available
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Point of Sale POS
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merchant accepts debit card as payment for goods or services
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Automatic Bill Payment
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Bank deducts $ from your account and distributes them to companies you owe $$ to
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check 21
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check clearing for the 21st century act allows other banks that clear your check to replace it with an electronic image or substitute check in order to facilitate the exchange of funds
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clearing
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paying of checks among different banks & different cities.
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Post
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display, appear,enter. items might not post the same day
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running balance
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continuous, ongoing calculation of the balance
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