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15 Cards in this Set
- Front
- Back
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What is a safe deposit box? |
A secure container located in the bank vault. |
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What items can be held in a safe deposit box? |
important documents, deeds and stock certificates. |
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What is overdraft protection? |
A service that you MUST sign up for to use.If you write a check or make a withdrawal from your account and the account does not have enough money, the bank will cover the shortage |
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What is a stop payment? |
A service provided by banks. In this service, the bank is instructed not to honor a check that you had issued or lost. It is good for six months, after that, it will no longer be good. |
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Cashier's check |
A check issued against bank funds, the money comes from your account and pays the bank when you buy one |
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What is an ATM? |
A machine that handles money. It transfers money, withdrawals money from an account, and deposit, and cash checks. |
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What does ATM stand for? |
Automated Teller Machine |
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What is a money order? |
a printed order for payment of a specified sum
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who issues a money order |
a bank or post office |
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What is internet banking? |
banking on the internet |
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What is a smart card |
a plastic card about the size of a credit card, with an embedded microchip that can be loaded with data, used for telephone calling, electronic cash payments, and other applications, and then periodically refreshed for additional use. |
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What is a Bounced check |
A check that has been refused |
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What is an inactive account |
there is no customer initiated activity or contact for a period of three to five years |
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What does Floating a check mean? |
The process of writing a check, and planning to deposit money later to cover the check before it is processed. |
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How can the laws of an inactive account differ |
Depending on the law or state, there can be more or less time for an account to be deemed inactive. |
