A check must be written as payable to the
Payee.
The person who sign a check is the
Drawer .
Which form of payment can be purchased for face value plus a fee from a bank, convenience store, or other location and must be signed by the purchaser
Moner Order.
A check that is so old when presented for payment that is no longer valid is called?
Stale check.
A check that is not considered negotiable but can be converted into a negotiable instrument or cash is a ______ ?
Warant.
Regular withdrawal of funds from one account and transferring them to another account, in special amiunts, at specified times is known as ________ ?
Automatic Funds Transfer.
A computerized system that enables funds to be debited, credited, or transferred is known as _________ ?
Electronic Funds Transfering System.
When an account holder has given the bank permission to transfer funds monthly to pay bills as a substitude for check writing, is referred to as _________ ________ ________ ?
Automatic Bill Paying.
What is the name for a check that has been created from a digital image of the original?
Electronic Check.
On the back of a check or money order, the payee must write his or her name as it appears on the front. This is referred to as _________ ?
Endorsement.
The most common way of endorsing a check is when the payee simply sign his or her name on the back of the check, this is known as a ________ __________ ?
Blank Endorsement.
Which type of endosement is used on a check that is to be transferred to another person or business _________ __________ ?
Full Endorsement.
When choosing a PIN for used with a bank account, be sure to ______________________________________ ?
Memorize it so it is not written for someone to see.
When deposit are made, they are added to the balance of or bank account, or __________ ?
Credit.
When chekc are written or other withdrawals are made, they are suctracted from the bank balance or ___________ ?
Debited.
On a monthly basis, to ensure accuracy of the bank balance, the bank statement should be ____________ ?
Reconciled.
Many bank do not accept _________ __________ ________ ?
Third Party Checks.
List Three facts about bank transactions and financial documents?
1) Involve Privilege information.
2) Involve confidential information.
3) Should be kept and lock in files.
A check stub can also be used as a ________ _______ ?
Check register.
Businesses are more vulnerable to check fraud on _________ __________ __________ ?
Friday afternoon and weekends.
When using bank by mail, always use ___________ __________ ?
Restricted Endorsement
When using an after-h0urs deposit feature, when is the money deposited into the account __________ __________ ?
Following morning.
Patients who do not have a bank account may pay the physician using a special card that has money preloaded called a _________ ________ ?
Prepaid Cards.
A machine that imprints figures on a check so that they cannot be changed is called a _________ _________ _________ ?
Check writer machine.
When reconciling a bank statement and the statement balance and checkbook balance do not agree, what do you divide the difference by to find the transposition error __ ?
Nine.
Define ABA number ?
Bank Identification # that is printed on check.
Define Automated teller machine?
Public computer terminal use for banking transactions.
Define Bank statement?
Monthly itemization of all transaction on a checking or saving account.
Define Deposit?
Funds added to a bank account.
Define Endorsement?
payee signature of the back of the check.
Define Check?
Written order to pay funds from a personal or business bank account.
Define Credit?
Money deposited to a bank account.
Define Currency?
Paper bills and coins in circulation.
Define Debit?
Money withdrawn from a bank account.
What is Electronic funds transfer system?
Method of transfering funds using computer.
Define Forgery?
Fraudulent signature of instrument.
Define Limited Check?
Check that is void if written over certain amount.
Define Overdraft?
Charge against on account in access available funds.
Define Payee?
Recipent of the amount shown on a check
Define Payer?
Party responsible payment check amount.
Define Reconciliation?
Verifying account balance by comparing bank statement to transaction records.
Define Savings account?
Interest bearing account.
Define Service charge?
Bank fee for processing transactions and account maintenance.
Define Withdrawal?
Removal of funds.
A ________ check is drawn by a bank and signed by an authorized bank offical.
Cashier.
A _________ customer's check may be presented to the bank for authentication and guarantee, making it a ___________ check.
Certified.
A __________ check is avaliable at the bank for the depositor to withdraw funds from his or her own account.
Counter.
__________ checks can be purchased to use in place of personal checks or cash in locations where personal checks may not be accepted and carrying large amount of cash is not desirable.
Travelers.
A ___________ check is available in a variety of styles and includes either a stub or a way to keep a duplicate copy as a record of the transaction.
Voucher.
________ ____ ________ is a system that can substitute for check writing in which bill payments are made by calling to authorize a tranfer of funds.
Pay by phone.
A signature on the back of a check the must be present to deposit the check is the ______________ ?
Endorsement.
A check is _____________ which meansit is legally transferable to another person or business.
Negotiable.
A ____________ endorsement contains a phrase, such as "for deposit only" along the endorsers signature
Restrictive.
Writen a check with the knowledge that there are not sifficient funds in the account to cover it is considered an intent to _____________ and is unlawful
Defraud.
When preparing a bank __________ it is important to verify that each check or money order has been properly endorsed.
Deposit.
ATM ___________ can occur when thieves use a portable card reading device to record data on a debit or credit cards magnatic strip.
Skimming.
When each check is written, be sure to complete the __________ or stub attached to the check for proper record keeping.
Vaucher.
A _________ ___________ mashine imprints the figures on a check so that they cannot be altered.
Check writer.
___________ banking gives customers24/7 access to their bank accounts via the internet.
Online.
Each month, a _________ ____________ is sent to checking account holders listing all transactions during the prior period and the ending balance.
Bank statement.