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10 Cards in this Set
- Front
- Back
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Define service charge.
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A fee the bank charges for handling a checking account
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Define money market rate
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the interest rate that big users of money (i.e the gov't)pay when the borrow money, varies from day to day
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Define sharedrafts
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checks of a member of a credit union
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Define signiture card
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the official record of your signature which is kept by thhe bank, the same signature must be used on each check
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Define joint account
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shared account between two or more people
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Define deposit slip
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a form on which you list all items you are depositing- currency, coins, or checks
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Define endorsement
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written evidence that you recieved payment or transferred your right of recieving payment to someone else
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Define blank endorsement
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an endorsement consisting of only the endorser's name
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Define special endorsement
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an endorsement which includes the name of the person to whom the check has been transferred, another name for special endorsements are full endorsements
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Define restrictive endorsement
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An endorsement which limits the use of the check to the purpose given in the endorsement
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