Ch.23 Banking And Credit

Front 1

Full-service banks

Back 1

Banks that offer customers a wide range of services, including loans, checking and savings accounts, credit cards, safe deposit boxes and travelers checks

Front 2

Automated teller machines (ATMs)

Back 2

Electronic banking terminals that allow customers to withdraw cash, make deposits, or transfer funds to another account

Front 3

Electronic banking

Back 3

Term used to describe various types of electronic fund transfers (EFTs)

Front 4

Debit card

Back 4

Plastic card that is used to immediately transfer funds for a purchase from a bank account to a seller

Front 5

Signature card

Back 5

Form one fills out in order to open a checking account that holds information such as name, address, social security number, and phone number.

Front 6

Postdating

Back 6

Putting a date on a check that is later than the current date

Front 7

Payee

Back 7

Person or institiution to which a check is written

Front 8

Check Register

Back 8

Booklet or forms for recording checking account transactions

Front 9

Endorsement

Back 9

Signature, sometime with a brief message, on a check needed to cash, deposit or transfer ownership

Front 10

Deposit ticket

Back 10

A preprinted form used to deposit any combination of currency, coins and checks into a checking account

Front 11

Statement of account

Back 11

Statement a bank sends monthly to its customers that shows a record of all transactions for the stated time period

Front 12

Reconciling

Back 12

Process of comparing a bank statement with one's personal check register to verify accurancy